Authorities have revoked the tax-exempt status of nonprofit Blue Shield of California, potentially putting it on the hook for tens of millions of dollars in state taxes each year. The move by the California Franchise Tax Board comes as the state's third-largest health insurer faces fresh criticism over its rate hikes, executive pay and $4.2 billion in financial reserves.
The state quietly stripped the San Francisco insurer of its exemption from California income taxes in August. The company held that since its founding in 1939.
Spring is here and so is the event fundraising season! Events that raise money for causes and nonprofits can take many forms from 5k runs and walk-a-thons to endurance bike rides. In recent years, nonprofits have expanded these activities to include mud runs, polar plunges, even head-shaving! But just like any large undertaking, planning a fundraising event has its benefits and challenges. They can bring in a lot of revenue for the organization, but can also put tremendous strain on a nonprofit’s resources.
San Diego developer and philanthropist Conrad Prebys has given Scripps Health $45 million for its new cardiovascular institute in La Jolla, Calif., making the donation the largest in Scripps’ history and the biggest Prebys has given any organization.
Scripps officials plan to announce that the $456 million center being built at Scripps Memorial Hospital La Jolla will be named the Prebys Cardiovascular Institute.
April 5, 2010, Cooler Planet — Kaiser Permanente, the biggest nonprofit health maintenance organization (HMO) in the country, said this week that it plans to install solar power systems at 15 of its California locations this year.
Kaiser, which operates primarily in California but also has locations in Washington, Oregon, Colorado, Georgia, Hawaii, Ohio, and the Atlantic tri-state area (Virginia, D.C. and Maryland), provides medical care and peripheral services like mental health, hospice care, pharmaceuticals, dental care and wellness care to 8 million members.
The solar systems will be installed by San Francisco-based independent power producer Recurrent Energy, and the ultimate production capacity of 15 megawatts – or 10 percent of the electricity Kaiser uses across its service territory – will be fully operational by the summer of 2011, according to officials from both Kaiser and Recurrent.
Feb. 12, 2010, Philanthropy News Digest — Oakland-based Kaiser Permanente has announced fourth-quarter grants totaling $90 million to five hundred nonprofits across the country.
PASADENA, Calif., December 1, 2009 — Kaiser Permanente announced today that more than 60 nonprofit organizations from Kern to San Diego will receive grants totaling more than $750,000 to help fund a wide range of services for people with HIV and AIDS, including youth education, prevention, screening and treatment programs, as well as housing assistance and food pantries. Kaiser Permanente’s community benefit HIV/AIDS funding for 2009 will exceed $1.25 million to California agencies this year, bringing the total to more than $6.25 million since the grant program began in 1989.
OAKLAND, Calif., July 28, 2009 — Kaiser Permanente, one of America's leading health care providers and nonprofit health plans, announced today that it has approved more than $11 million in grants and donations to more than 700 nonprofit agencies nationwide in the second quarter of 2009. The health care organization's grants this quarter focused on providing access to high-quality care to uninsured and underserved communities, healthy food and fitness opportunities to children and families, and funding education programs for health professionals.