Tax-exempt private foundations “regularly misused to fund organizations and outfits antithetical to our best interests”

Big, Very Rich and Dangerous: Time to Rein in Private Charitable Foundations
by Clarice Feldman
December 11, 2016

…During a 75-year period (1884-1969) the U.S. Tax Code “established the basic principles and requirements of tax exemption, identified business activities of tax-exempt organizations that were subject to taxation, and defined and regulated private foundations as a sub-set for tax-exempt organizations.” Their assets have increased enormously since then. It’s time for another look at the law with an end to rewrite it. Together, private and public charitable foundations are apparently sitting on trillions of dollars of assets. READ MORE

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