In the November 14, 2005 edition of The New York Times, Stephanie Strom’s article "What Is Charity?" asserts that hearings of the House Ways and Means Committee examining whether tax exemption is justified for certain types of nonprofits "have terrified nonprofit leaders, more than a Senate Finance Committee threat to tighten regulation of charities." According to the article, Rep. Bill Thomas, Chairman of the House Ways and Means Committee, has questioned whether the definition of charity has "been stretched so broadly that it no longer has meaning … [and] [i]f so, are the tax breaks that propel our philanthropy justified."
Click here for the full article (subscription required).
Click here for a recap in Philanthropy News Digest.