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Home » Accountability, Arts, Foundations, Government

News Briefing: Tax Abuse Persists Among Charities, says IRS

By Kate Golden on July 24, 20072 Comments
  • The IRS does not always have the legal means to deal with the tax abuse problems of charities, according to the IRS commissioner.  [Associated Press]
  • The Senate Finance Committee demanded yesterday that student loan company EduCap provide documents explaining its tax-exempt status.  [Washington Post]
  • Harry Sefarbi, one of the last living links to Albert Barnes, fears the Barnes Foundation’s move to downtown Philadelphia will end its role as a teaching institution.  [New York Times]
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2 Comments »

  • Kenneth Jessett says:

    Is there a source where a potential donee can review the audited reports and trustworthiness of non-profits, ie, see how much money is taken in, and how the money is spent?

  • Kate says:

    Hi, Kenneth – The nonprofit itself will have to provide you with the audited financials – there is no comprehensive source for those. However, you CAN view a nonprofit’s most recent Form 990 on GuideStar (www.guidestar.org) which will show you both income and program costs. Charity Navigator (www.charitynavigator.org) takes information from the 990 and ranks a nonprofit’s efficiency in admin/fundraising costs vs. overall expenses. Those are probably your best bet.

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