Nonprofits fear tax-law changes could hurt bequests
Some nonprofits fear erosion of a key funding source — bequests from estates – as a result of the tax law President Obama signed Dec. 17, a measure that cuts both estate tax rate from pre-2010 levels and slashes the number of people subject to it, making it much easier for wealthy families to pass on money tax-free to their heirs and thus reduce funds for charities, Bloomberg reported Dec. 23 (see estate tax story).
Wikipedia gets over $16 million in donations
The Wikimedia Foundation, parent organization of the online encyclopedia Wikipedia, raised over $16 million in a pledge drive that began Nov. 14 and generated more than 500,000 individual donations, up from 230,000 donations during Wikipedia’s 67-day fundraiser in 2009, PC Magazine reported Jan. 2 (see Wikipedia fundraising story).
Canadian givers taking more active role
Instead of writing checks to support charities, a growing number of Canadians are starting their own charities, asking friends and family for support, and taking a much more active role in determining how the money is spent, The Globe and Mail reported Dec. 23 (see Canadian giving story).
British government mulls encouraging ATM giving
The British government is considering asking for donations to charity whenever a customer uses an automated-teller machine or pays for items using a bank card, Bloomberg reported Dec. 29 (see ATM giving story).