Below is a partial list of the 65 Top Corporate Philanthropists in the Greater Bay Area published by The San Francisco Business Times in the “Corporate Philanthropy 2006” supplement to its July 21-27, 2006 issue. The rankings were based on total cash contributions paid to Bay Area-based charitable organizations...
CURRENT AFFAIRS & OPINION
Advisory Commitee Releases Report Recommending Changes to Form 990
The Advisory Committee on Tax Exempt and Government Entities (ACT) released its Fifth Annual Report of Recommendations to the IRS. The first section of the Report focuses on "Policies and Guidelines for Form 990 Revision." OMB Watch reports that ACT Chair Robert E. Donovan stated that as has been...
Tax Reconciliation Bill Drops Charitable Provisions
The New York Times (May 11, 2006) reported that the proposals of charitable giving incentives and charitable reforms were dropped from the $69 billion tax-cut bill passed on May 9, 2006. The proposals are likely to be placed in a secondary piece of legislation, possibly the pension reform bill...
Merger between the Community Foundation Silicon Valley and the Peninsula Community Foundation
The Associated Press reported on May 4, 2006 that the Community Foundation Silicon Valley and the Peninsula Community Foundation have announced that they are considering a merger to create a combined endowment of $1.36 billion. The merger would result in the nation’s third largest community foundation, behind only the...
Panel on the Nonprofit Sector Releases Supplemental Report
On April 24, 2006, the Panel on the Nonprofit Sector, a coalition of nonprofit and philanthropic leaders, released a Supplemental Report that recommends actions by Congress, the IRS, and charitable organizations. The Supplemental Report is a companion to the Panel’s Final Report delivered to Congress in June of 2005....
CAN Policy Days: Keeping Up With the Law
On March 21, 2006, I had the great pleasure of moderating a panel for the California Association of Nonprofits Policy Days conference in Sacramento focused on "Keeping Up With the Law." The panelists were David Levitt, principal with Silk, Adler & Colvin; and Mark Krausse, executive director of the...
President Bush’s 2007 Budget Plan
President Bush sent his $2.8 trillion budget for fiscal year 2007 to Congress earlier in February. Here are some highlights: 141 programs, including a program that provides meals to about 400,000 needy elderly people, singled out for elimination or severe cuts, saving $15 billion. $1 billion reduction in the...
Council on Foundations Leads Call for Treasury Department to Withdraw Antiterrorism Guidelines
A coalition of more than 40 nonprofit organizations led by The Council on Foundations has called on the U.S. Department of Treasury to withdraw its "Anti-Terrorist Financing Guidelines: Voluntary Best Practices for U.S.-based Charities" (rev. Nov. 2005). In response to the Treasury Department’s invitation for public comments to propose...
“What’s Happening with Charity Reform” – A Presentation by Jane Gallagher of the Council on Foundations
At a January 26, 2006 meeting hosted by the Northern California Planned Giving Council, Janne Gallagher, Vice President and General Counsel of the Council on Foundations, spoke about current legislation affecting the nonprofit sector. Here are some of the highlights: S 2020: Senate Tax Reconciliation Bill Proposals to Increase...
Boys and Girls Club Turns Down Donation From Hooters: Breach of Fiduciary Duties?
Charity Governance, in a January 22, 2006 post, examined the intriguing question of whether board members of the Boys and Girls Club of Burlington, Vermont breached their fiduciary duties by turning down an apparently unrestricted $2,250 donation from Hooters, the popular, racy restaurant chain. In its analysis, Charity Governance...