States and cities mull new fees for nonprofits
To help offset budget cuts and avoid new debt and taxes, states and local governments are hitting residents with a range of new fees, some for new profits, marking a big split from long-standing tax exemptions required by state law or based on the idea that churches, schools and charities work in tandem with government to provide community services, The Wall Street Journal reported Dec. 27 (see nonprofit fees story).
Newspaper backs panel’s call for nonprofits to pay fees to city of Boston
A mayor’s task force in Boston is on the money in calling for nonprofits to pay the city, in lieu of taxes, 25 percent of the total they would pay if their property were fully taxable, the Boston Globe said in an editorial Jan. 3 (see Boston nonprofits story).
Stanford endowment grows 10 percent
The endowment at Stanford University grew 10 percent to $13.9 billion in the fiscal year ended Aug. 31, 2010, an increase generated by investment gains, endowment gifts and other funds transferred into the endowment, Palo Alto Online reported Jan. 3 (see Stanford endowment story).
New foundation raising endowment to support Fairfax County schools
The public schools and chamber of commerce in Fairfax County, Va., one of the wealthiest counties in the U.S., have teamed up to form a foundation that aims to raise a $10 million endowment to support the public schools, WTOP reported Jan. 4 (see public school foundation story).