Government & Regulation
September 7, 2017 at 1:18 pm
Millions of pounds in administration costs were deducted from the charitable donations made by Tesco using funds generated from the plastic bag tax, government data has revealed. No other major supermarket made any such deductions, leading senior MPs to urge Tesco to follow their lead. The 5p charge for plastic bags was introduced in England…
September 6, 2017 at 1:08 pm
President Trump and his re-election campaign have decided to cancel fundraisers scheduled this fall in Texas as the state recovers from Hurricane Harvey. Trump was originally scheduled to hold a fundraising event in Dallas the end of September, while Vice President Mike Pence was slotted to attend fundraisers in San Antonio and Houston the beginning…
August 30, 2017 at 12:47 pm
Most Republicans support killing the estate tax as part of a tax overhaul, but doing so could have dire consequences for something else conservatives cherish—charitable giving. President Donald Trump along with top GOP lawmakers have proposed ending what they call the death tax—a 40 percent levy that’s applied to estates worth more than $5.49 million…
August 23, 2017 at 11:34 am
Cambodia’s Ministry of Foreign Affairs ordered foreign staff members of an American nonprofit that receives support from the U.S. government to leave the country within a week, part of an apparent attempt to silence opposition voices in the lead-up to national elections next year. Cambodia is ruled by one of the world’s longest-serving leaders, Prime…
August 22, 2017 at 11:14 am
The Internal Revenue Service has revoked the nonprofit status of a hospital for the first time since new charity care reporting requirements went into effect late last year. The name of the hospital is redacted from the text of the tax status letter (PDF). The letter is dated Feb. 14 but was released on the IRS…
August 18, 2017 at 11:05 am
The Cleveland Clinic and the American Cancer Society separately announced Thursday that they would not hold previously planned fundraising galas at President Donald Trump's Mar-a-Lago resort. "After careful consideration, Cleveland Clinic has decided that it will not hold a Florida fundraiser at Mar-a-Lago in 2018," the Cleveland Clinic said in a statement on Thursday. "We…
August 17, 2017 at 10:16 am
The NYU School of Law plans to launch a new center funded by Michael Bloomberg's charitable organization to assist state attorneys general that oppose moves by the Trump administration to eliminate and scale back environmental and energy regulations. The charity, Bloomberg Philanthropies, which was founded by the former mayor of New York City, will donate…
August 7, 2017 at 10:34 am
But another factor—the tax benefits for giving—could soon change if lawmakers push through tax reform. Few people donate simply because of the tax breaks and are unlikely to stop giving altogether if they don't get any. But analyses from the Congressional Budget Office and others have found that tax incentives typically increase how much you…
August 3, 2017 at 9:44 am
The charitable initiative of Facebook founder Mark Zuckerberg and his wife, Priscilla Chan, has reportedly taken on Democratic pollster Joel Benenson as a consultant, further fuelling speculation about his possible political ambitions. Benenson was a strategist for both of Barack Obama's presidential campaigns and was the chief strategist for Hillary Clinton's doomed campaign last year.…
July 27, 2017 at 3:49 pm
Bank accounts of over 300 charities based in the U.K. have been shut down within the past two years due to a global crackdown on illegal funds, Reuters reported. In addition, Charity Finance Group told Reuters that delayed payments have disrupted operations in thousands of charities, which has caused financial loss and risks to employees...
