Posted February 1st, 1998

In The News…

Taking a stab at “death” taxes

If Republicans have their way this year, estate and gift taxes will be cut. Senate Majority Leader Trent Lott and others in Congress maintain that these taxes are not only detrimental to family farms and other businesses, they also provide very little to the public treasury. Only approximately 2% of the nation’s total tax revenue each year comes from estate and gift taxes. However, the Clinton administration will most likely oppose these tax cuts because, in their view, this position ignores the intended role of the gift and estate tax in breaking up large concentrations of wealth and only a few very rich people would benefit from the proposed cuts.

Source: The Wall Street Journal, December 17, 1997

Can the United Way change L.A.?

Los Angeles is among the nation’s least charitable cities. According to a recent survey of American giving patterns, Los Angeles ranked 48th out of 50 large communities. But the local United Way is trying to change the city’s level of generosity through new ad campaigns that make fun of the stereotypical Southern California lifestyle. One billboard reads, “You’re an actor. Act like you care.” Another sign says, “What this town needs are compassion implants.” Todd Rosin, spokesperson for the United Way of Greater Los Angeles, said, “We’re trying to make people realize there are some things they can consider cutting out. The price of one nonfat double latte could buy a toddler milk for a month.”

Source: The Commercial Appeal, November 30, 1997

Checking up before writing checks

One Web site allows donors to check out how a charitable organization spends its money before they write a check. Guide-star’s Web site, www.guidestar.org, lists financial data on 40,000 charities. The site also permits visitors to search for charities with specific missions. The National Charities Information Bureau in their “Wise Giving Guide” also rates some of the largest charities. For more information on how to receive a copy, call (212) 929-6300 or see the NCIB Web site at www.give.org.

Source: Kiplinger’s Personal Finance Adviser, December 1997

Stamp honors philanthropy

On December 15, 1997, an official United States postage stamp celebrating philanthropy was unveiled in Washington, D.C. The stamp carries the inscription “Giving and Sharing: an American Tradition” and depicts a bee pollinating a flower, which symbolizes the fundamental give and take relationship of all philanthropic acts. Milton Murray, chairperson of the Philanthropy Stamp Task Force, has worked for nearly 20 years on the issuance of this commemorative postage stamp. Others who were champions of this stamp include the American Association of Fund Raising Counsel (AAFRC), the Association of Healthcare Philanthropy (AHP), the Council for Advancement and Support of Education (CASE), INDEPENDENT SECTOR (IS), the National Catholic Development Conference (NCDC), the National Committee on Planned Giving (NCPG), and the National Society of Fund Raising Executives (NSFRE). The philanthropy stamp is expected to be available in the fall of 1998.

Source: NSFRE Press Release

The publisher of Give & Take is not engaged in rendering legal or tax advisory service. For advice and assistance in specific cases, the services of your own counsel should be obtained. Articles in Give & Take may generally be reprinted for distribution to board members and staff of nonprofit institutions and other non-donor groups. Proper credit must be given. Call for details.

Give & Take

Site Search

Give & Take Archives

2017 Issues 2016 Issues 2015 Issues 2014 Issues 2013 Issues 2012 Issues 2011 Issues 2010 Issues 2009 Issues 2008 Issues 2007 Issues 2006 Issues 2005 Issues 2004 Issues 2003 Issues 2002 Issues 2001 Issues 2000 Issues 1999 Issues 1998 Issues 1997 Issues