The IRS is seeking comments on its plan to substantially revise and streamline Form 1023 -- the document that organizations file with the IRS when they seek tax-exempt status as charities or foundations -- as well as the instructions for the form (Announcement 2002-92, Internal Revenue Bulletin…
By Grant Williams
Contributor
Twenty-one months after leaving the White House, Bill Clinton talks to The Chronicle in detail about what he has planned for his philanthropy.
By Grant Williams
Contributor
‘Washington Monthly’: Car Donations
Although many nonprofit organizations heavily promote them, car-donation programs often benefit everyone but the charities they are intended to help, says The Washington Monthly (June). “Most charities don’t have the resources to run car-donation programs themselves, and instead rely on private…
By Grant Williams
Contributor
‘Lilith’: Growth of Jewish Women’s Funds
By Nicole Lewis In the last decade, more than a dozen new Jewish women’s foundations have been created to improve the lives of women and girls in the United States and Israel, says Lilith magazine (Spring). Driving their creation is Jewish women’s increasing awareness of their “charity clout” and…
By Grant Williams and Nicole Lewis
Group Releases Figures on Charity Deductions
By Elizabeth Schwinn Using statistics from the Internal Revenue Service, RIA -- a tax information publisher -- has calculated the average deductions for charitable contributions taken in 1999 by taxpayers in seven tax brackets: Income Average contribution 1999 $35,000-49,999 $1,758 $50,000-74,999…
By Grant Williams and Elizabeth Schwinn
Deductions Rise, Says IRS Report
New statistics released by the Internal Revenue Service show that deductions claimed for charitable contributions rose from $109.2-billion in 1998 to an estimated $125.8-billion in 1999, an increase of 15.2 percent. The jump marked the fourth straight year that charitable deductions claimed by…
By Grant Williams
Contributor
Agency Releases Data on Nonprofit Finances
The Internal Revenue Service has issued a report tracing the growth of charities from 1997 to 1998. The number of charities in the United States that filed Form 990 and Form 990-EZ informational tax returns with the government rose from 198,957 in 1997 to 207,273 in 1998, an increase of 4.2…
By Grant Williams
Contributor
IRS Panel Says Donors Exaggerate Value of Artwork
By GRANT WILLIAMSThe Internal Revenue Service’s Art Advisory Panel has reviewed and recalculated the value of thousands of pieces of artwork for which deductions were claimed by taxpayers who donated them to charities or left them to heirs. As it has in the past, the panel found that many people…
By Grant Williams
Contributor
IRS Releases Study on Charitable Trusts
By GRANT WILLIAMSThe Internal Revenue Service says that it received 85,060 informational tax returns in 1998 from charitable remainder trusts, a popular form of planned giving. The data was released in the tax agency’s first study of the charitable trusts. Of the total returns received by the…
By Grant Williams
Contributor
Bushes, Cheneys Release Giving Information
The Bushes gave nonprofit organizations $143,300 of their reported net taxable income of $744,682 in 2000.
By Grant Williams
Contributor