The Chronicle of Philanthropy (February 17, 2005) reported that in President Bush’s 2006 spending plan proposed to Congress earlier in the month, the President suggested taking money away from many longstanding broad-based social programs that he claims are ineffective and reallocating some of that money to “new, carefully focused...
CURRENT AFFAIRS & OPINION
Opinion of Rep. Charles B. Rangel and John Buckley
In the Opinion “Tax-Code Overhaul Could Harm Charities” published by The Chronicle of Philanthropy (February 3, 2005), Rep. Charles B. Rangel (ranking Democratic member on the House Committee on Ways and Means) and John Buckley (the Committee’s Democratic chief tax counsel) critically address some of the goals reportedly forwarded...
2005: A Tough Year
The Chronicle of Philanthropy (January 20, 2005) reported that many nonprofit observers believe that charities and foundations could face an unusually hostile political and financial climate in Washington that could lead to significant changes in the nonprofit sector. Among the increased government scutiny: the IRS has stepped up its...
Tsunami Relief
The Chronicle of Philanthropy (January 20, 2005) reported that more than $400-million has been raised by international aid groups in the United States. To encourage more donations, Congress enacted a new law on January 7, 2005 to allow taxpayers who itemize deductions to claim on their 2004 tax returns...
The Charity Boom
The Chronicle of Philanthropy (January 6, 2005) reported that there are now nearly 800,000 charities listed on the IRS’s official roster. Over 300,000 of these organizataions gained tax-exempt status in the past ten years, and of these newer organizations, 53% were not required to file federal information tax returns...