- September 2010
- IRA Rollover Remains on Hold
- Estate Tax Bill Introduced by Senate
- Campaign-Finance Bill Stalls in Senate, Alleviating Advocacy Groups' Concerns
- Federal Government Awards $50 Million in First Set of Innovations Grants
- Supreme Court Decision Delivers Blow to Human-Rights and Aid Groups
- Supreme Court’s Ruling in College Case Could Impact Charities
- HHS Proposes HIPAA Regulations Changes Affecting Fundraising
- Religion-Based Groups Protest Restrictions in Bill
- Senator Wants More Disclosure by Non Profits about Donors
- Coalition Wants Charity Stipulation in Boston Hospital Deal
- States Seeks to Limit Nonprofit CEO Pay as Part of Budget-Cutting Efforts
- Two NY Charities Refuse to Return Gifts from Donor Convicted of Fraud
- Oregon Wants to Close Vets Charity Over Telemarketing Fees
- Florida Bars Fund Raising by Veterans Group
- NY Governor Signs Law to Limit Charitable Deductions for Wealthy
- Law Suit Claims Mismanagement Killed NY Hospital
- IRS Offers Small Charities ‘One-Time Relief’ Through Extended Deadline
- U.S. Postal Service Proposes Rate Increase
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Two NY Charities Refuse to Return Gifts from Donor Convicted of Fraud
Two high-profile New York nonprofit institutions are resisting the federal government’s call to return donations from Hassan Nemazee, a business executive who has been convicted of fraud.
The Asia Society has held onto the more than $270,000 it received from the once-powerful businessman and Democratic Party donor who pleaded guilty in March to operating a $292-million Ponzi scheme. Also, the private Spence School has refused to return over $15,000 in gifts. In letters to the government, the institutions argued that they should not have to return donations that they did not know were the product of criminal activity and that the money has long since been spent.
Federal officials contend that the society, which listed $8 million in cash, according to its 2009 annual report, and the school, with an $85 million endowment, have ample resources to repay the gifts. Several other non profit beneficiaries, including Harvard and Brown universities and the Council on Foreign Relations, have forfeited the donated funds.