Charity measures dropped from tax-cut bill

Here are the top nonprofit stories reported elsewhere:

* After heavy lobbying by some nonprofits, proposals to toughen tax laws on charities and foundations were dropped from the $69 billion tax-cut bill that won support from House and Senate Republicans, The New York Times reported May 11.

* However annoying it may be to conservatives, the Ford Foundation is “a private institution in a free society” and “should not have to endure political shakedowns, even when they come from well-meaning conservatives” such as the Michigan’s Republican attorney general who is demanding that the New York City-based foundation increase its spending in the Detroit area, where Henry Ford built the fortune he used to create the foundation, John J. Miller, a writer for National Review, said in an opinion column May 15 in The New York Times.

* The IRS says it has revoked or plans to repeal the tax-exempt status of all 41 credit counselors it has audited, finding the nonprofits’ main motivation was profit and they did not provide adequate counseling to consumers with debts, the Baltimore Sun reported May 16.

* The wealth created recently by Wall Street firms, hedge funds, venture-capital firms and buyout groups is having a big impact on philanthropy, with retired bankers and still-working financiers becoming more active in their charitable giving, The Wall Street Journal reported May 16.

* A number of new mutual funds are being launched that contribute part of their proceeds to charitable causes, The Wall Street Journal reported May 13.

* Former Presidents Bush and Clinton delivered nearly $10 million to nonprofits and cities in the Gulf Coast, The Times-Picayune in New Orleans reported May 13.

* Loews Corp. C0-Chairman Jonathan Tisch is giving Tufts University $40 million, the third-largest gift in the school’s history, and the largest by far by the children of the brothers who built the Loews conglomerate, The Wall Street Journal reported May 12.

* The Salvation Army was set to install Israel L. Gaither as commander of its U.S operations, the first time a black church official will have led the mainly while, evangelical denomination in the U.S., the Associated Press reported May 12.

* A federal judge ruled that a U.S. policy that forces groups fighting AIDS overseas to denounce prostitution to get federal funding violates free-speech rights, the Associated Press reported May 10.

* The head of the International Red Cross criticized the refusal by the Bush administration to let its delegates visit detainees in secret detention, the Associated Press reported May 12.

* After 11 of the top British 100 charities last year failed to file their accounts on time, the Charity Commission has launched File Early, a practical guide to help all charities prepare their accounts on time, Business Credit Management reported May 15.

* A growing number of bankers, entrepreneurs and philanthropists are providing millions of dollars for archeological study and preservation, The Wall Street Journal reported May 13.

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