charitable giving

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How the Charitable Deduction Benefits the Rich
How the Charitable
Deduction Benefits the Rich
OPINION
Dec 3, 2012 1:45 PM CST

How the Charitable Deduction Benefits the Rich

'Average Americans paying for billionaires' generosity,' writes Fred Hiatt

(Newser) - A call to limit the charitable deduction may sound heartless—what about all those churches and museums and schools and nonprofits?—but the deduction actually benefits the rich, while "the rest of the country has to make up the gap," writes Fred Hiatt in the Washington Post . A...

How Romney Used Mormon Church to Defer Taxes

Bloomberg reports on loophole he used

(Newser) - Since 1996, Mitt Romney has been deferring some of his taxes through something called a charitable remainder unitrust, a tax shelter Congress cracked down on little more than a year after Romney set his up. As Bloomberg describes it, the trust “allowed rich people to take advantage of the...

Sheen Giving $1M to Military Charity

USO getting cut of Anger Management profits

(Newser) - Charlie Sheen is back in the headlines but there are no drugs, goddesses, or crazy escapades involved. The actor has pledged at least $1 million to military charity United Services Organization's program for assisting wounded and sick soldiers and their families, reports Reuters . Sheen is turning over 1% of...

Virtual Swear Jar Turns Your Potty Mouth Into Charity

'Charity Swear Box' urges you to donate $1 per bad word

(Newser) - If your New Year’s resolution is to stop swearing so much, why not do some good at the same time? Giving a modern twist to the idea of putting money into a glass jar every time you curse, " Charity Swear Box" monitors your Twitter feed for naughty words....

US First in Charity Index
 US First in Charity Index 
Dec 21, 2011 3:19 PM CST

US First in Charity Index

World generosity rising overall, despite recession

(Newser) - Pat yourself on the back America; you’re the most giving nation in the world, at least according to the Charities Aid Foundation. The US jumped from fifth place to first in the second annual World Giving Index (pdf here ), with an all-time-high 60% rating. The score is based...

Donate Money, Not Food
 Please Donate Money, Not Food 
OPINION
Nov 18, 2011 12:59 PM CST

Please Donate Money, Not Food

Food drives are surprisingly wasteful: John Arnold and Katherina Rosqueta

(Newser) - Holiday food drives stem from the right charitable impulse, but unfortunately, they’re extremely inefficient. The sad fact is that up to half the donated food in a traditional drive doesn’t get used because the items are things recipients “can't use or don't know how to...

Carnegie Mellon Wins $265M Gift

Steel magnate William Dietrich's donation largest in years

(Newser) - Carnegie Mellon University just scored a big boost, as former steel magnate William Dietrich pledged $265 million to the Pittsburgh-based school, reports AP . With charitable giving down due to the economic downturn, Dietrich's gift is considered one of the largest to a private university in recent years. "It...

Americans Gave More to Charity Last Year

But the $290B we ponied up in 2010 is still below 2007 levels

(Newser) - Charitable giving increased last year as the economy improved, rising 3.8% to $290.89 billion, up from $280.3 billion in 2009. "There was a lot more optimism, all relative, in 2010," says an analyst. "People are still generous despite uncertainty, despite not having jobs, and...

On Your iPhone, an App for Everything—Except Donating

Apple makes it hard for users to give to charity

(Newser) - Need directions to the store, a recipe for dinner, the latest tweets from all your friends, or a silly game to while away the hours? There’s an app for (all of) that. But one thing you can’t do on your iPhone is make charitable donations—at least, not...

Do You Know Where Your Donations Are Going?
Do You Know Where Your
Donations Are Going?
nicholas kristof
Nov 21, 2010 2:52 PM CST

Do You Know Where Your Donations Are Going?

It's the season of giving, but do your research first, writes Nicholas Kristof

(Newser) - Nicholas Kristof thinks it’s great that many people “will dig into their pockets for good causes” this holiday season—he just wants to make sure you know which causes are actually good. It’s dangerous to assume that all charities share your values and are using your money...

Geldof Enraged by Report That Live Aid Paid for Weapons

95% of donations siphoned to rebel weapons, says BBC

(Newser) - Live Aid founder Bob Geldof is furious about a BBC report that said 95% of the Live Aid money his organization raised for Ethiopian famine relief in 1985 was diverted to buy weapons for rebel fighters. It's possible that "some money was mislaid, but to suggest it was on...

America's Top Philanthropists

Annual list tracks most generous of 2009; Bill and Melinda Gates are 3rd

(Newser) - The recession took a bite out of charitable giving last year, but some very wealthy, very generous people kept their checkbooks open. Slate delivers its annual list of the 60 biggest donors in the country, who together came up with $4.2 billion in new commitments to charity last year....

Goldman May Force More to Donate to Charity

Face-saving program would be similar to 4% rule at Bear Stearns

(Newser) - As Goldman Sachs prepares to lavish spectacular bonuses on employees this month—based on record profits of about $12 billion for 2009—the investment bank is mulling a face-saving program that would require more employees to donate to charity. Goldman already has such a program, which targets about 400 top-earners....

This Holiday's Worthy 3rd-World Charities
 This Holiday's Worthy 
 3rd-World Charities 
NICHOLAS KRISTOF
Dec 24, 2009 11:22 AM CST

This Holiday's Worthy 3rd-World Charities

Nicholas Kristof's annual list focuses on little-known aid groups

(Newser) - “Tired of celebrating spiritual holidays with crass commercialism?” writes Nicholas D. Kristof, in full pitchman mode. Have no fear: “Nothing says ‘happy holidays’ like donating in Aunt Tilda’s name to build a composting toilet in Haiti.” A sampling of the New York Times columnist’s...

At $5B in Profits, One Client May Have Out-Madoffed Madoff

(Newser) - At least one person looks to have benefited more from Bernie Madoff’s Ponzi scheme than Bernie Madoff, ProPublica reports. Jeffry Picower, a secretive philanthropist and investor in medical technologies, is on the books as having withdrawn some $5.1 billion in returns from 1995 to 2008, well beyond his...

Twitter 'Twollars' Raise Cash for Charity

(Newser) - Twitter has unveiled an online currency of sorts, the “twollar,” aimed at boosting charitable giving, the Guardian reports. Twitter users start out with 50 twollars (the equivalent of $5), which they can award to other users for astute posts and the like. Twollars are currency, but only charities...

In Hard Times, Big Donors Don't Flaunt It

Some seek subtlety as neighbors struggle

(Newser) - In hard times, big givers are staying out of the spotlight, the Chronicle of Philanthropy reports. Some 19% of donations of $1 million or more in the past 10 months have been anonymous, compared with 3%-5% over the past 10 years. Donors often stay nameless to keep other charities from...

E! Gave Brangelina Charity Big Bucks, But for What?

(Newser) - E! donated $250,000 to the Jolie-Pitt Foundation last year, but you wouldn’t know it from the cable channel's coverage of Brangelina, Fox News reports. Not only has E! not had the sort of scoops one might expect if it were really paying for access, but the celebrity news...

Philanthropists Cry Foul Over Obama Budget
Philanthropists Cry Foul Over Obama Budget
OPINION
Mar 10, 2009 9:19 AM CDT

Philanthropists Cry Foul Over Obama Budget

Higher taxes, cap on deductions may lead to $4B less in charity

(Newser) - Charity may be a virtue, but in America there's another motivation for philanthropy: generous tax deductions of as much as 35%. Barack Obama's proposed 2010 budget may change all that; not only will it raise taxes on the most wealthy to almost 40%, it will cap charitable deductions at a...

Madoff Bust Stokes Anti-Semitism in Palm Beach

(Newser) - Bernard Madoff’s alleged mega-fraud and the large number of Jewish investors he apparently snookered is stoking anti-Semitic feeling in tony Palm Beach, ABC News reports. “It is a terrible thing to say, but some of the WASPs are delighted, they take great pleasure in this,” said an...

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