New tax law could spur giving
Personal wealth advisers who focus on philanthropy expect a new law that exempts $5 million a person from estate and gift taxes to prompt many people to expand their charitable giving, The New York Times reported Feb. 9 (see tax cut story).
Plan would cut 9% from National Endowment for the Arts
A Republican member of the U.S. House is expected today to propose cutting the budget for the National Endowment for the Arts by 9 percent from its current level of $167.5 million, The Hartford Courant reported Feb. 9 (see humanities funding story).
Pennsylvania court to hear case on real-estate taxes for nonprofits
Pennsylvania’s Supreme Court will hear a case that will decide whether the Pittsburgh Cultural Trust must pay local real-estate taxes on two downtown properties it owns but has not developed, a case seen by nonprofits as another effort by the city to obtain revenue from them, The Pittsburgh Tribune-Review reported Feb. 10 (see nonprofit tax fight story).
Canadian university gets $22 million
Industrial real estate developers Ryan and Keith Beedie have given $22 million to Simon Fraser University near Vancouver, the biggest gift ever for the school, which will rename its business-administration faculty the Beedie School of Business, Straight.com reported Feb. 9 (see business school gift story).