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Finance and Revenue

(page 78 of 100)

Conservative Nonprofit Broke Campaign-Finance Law, Says FEC

A 501(c)(4) group with links to prominent conservative operatives violated federal law by failing to properly disclose details about its political advertising during the 2010 congressional elections, the Center for Public Integrity writes, citing a Federal Elections Commission report.

IRS Weighing New Option for Documenting Donations

Donors who report gifts of $250 or more to the Internal Revenue Service may get a new way to substantiate the contributions under a pending IRS rule change, according to Bloomberg BNA.

Millions Given to Calif. Youth Charity Goes to Telemarketers

California Police Youth Charities has raised some $6.9 million since 2011 with the help of celebrities and major-league sports teams but paid 83 percent of the money to professional fundraisers, the Los Angeles Post-Examiner writes.

Supreme Court Turns Down Calif. Case on Donor Disclosure

The justices’ decision Monday leaves in place a lower-court ruling that a conservative nonprofit must comply with an order by the state’s attorney general to name major donors in regulatory filings, reports the Associated Press.

Nonprofit Calif. Health Insurer Sues Executive-Turned-Critic

Blue Shield of California is accusing its former public-policy director, now an outspoken critic of the organization, of allegedly disclosing confidential company information, reports the Los Angeles Times.

Donor-Advised Funds Continue Rapid Growth

Grants from community foundations increased the most, says a new study from the National Philanthropic Trust.

Florida Legislators Seek Overhaul of State Charity Drive

Lawmakers are calling for changes in administration of the Florida State Employees Charitable Campaign following reports that the for-profit company running the drive received more than half of the money donated by government workers last year, the Tallahassee Democrat reports.

Greenpeace India Says It Faces Government Shutdown Order

The environmental-activist group, under fire for months by India’s government over its use of foreign donations, said Friday it has been ordered to dissolve within a month, reports The New York Times.

Clinton Foundation Affiliate Agrees to Refile Tax Forms

After saying it would not refile tax returns to correct errors in its reporting of funding from governments, the Clinton Health Access Initiative reversed course Wednesday and said it would submit amended documents to the IRS, Politico report.

High Pay at L.A. County Fair Nonprofit Prompts Audit Call

Los Angeles County officials are calling for investigations of the finances and tax status of the nonprofit that runs the annual county fair amid reports that it lost millions of dollars while paying top executives in the high six figures, the Los Angeles Times report.

Following Sale, National Geographic to Shed 9% of Staff

The nonprofit National Geographic Society will lay off about 180 of its 2,000 employees, cutting costs in the wake of the sale of its venerable magazine and other assets to Rupert Murdoch’s 21st Century Fox, reports The Washington Post.

Researchers Question Success of Utah Social-Impact Bond

A Utah preschool program funded by investment bank Goldman Sachs that was touted last month as the first “social-impact bond” to yield returns for an investor may have significantly overstated the results on which the payout is based, according to The New York Times.

Ariz. Drops Planned Parenthood From State Charity Drive

After more than 30 years on the list of charities participating in Arizona’s State Employees Charitable Campaign, Planned Parenthood was excluded this year from the workplace fundraiser by a policy committee that said the group did not fit the drive’s “mission or standards,” the Phoenix New Times and the Arizona Daily Star report.

GOP Seeks IRS Audit of Clinton Foundation Health Affiliate

The Republican National Committee called Tuesday for the IRS to review the finances of the Clinton Health Access Initiative, which said this week it would not refile past tax returns to correct apparent errors in its reporting of government grants, Reuters reports.

Failure of Health-Care Co-Ops Refuels Obamacare Debate

More than half of the nonprofit health insurers established with federal assistance under the Affordable Care Act have now gone under, adding fire to the partisan fight over the health-care law, The New York Times and The Washington Post report.

N.C. Energy Giant Wants Nonprofit Fined for Solar Project

Duke Energy, the nation’s largest power utility, is urging North Carolina regulators to levy fines that could exceed $120,000 against a nonprofit for selling power from solar panels to a church, in alleged violation of a state law limiting power sales to public utilities, the Charlotte Observer and the Winston-Salem Journal report.