- March 2010
- Many Nonprofit Programs Hold Even or See Gains in Obama’s 2011 Budget
- Congress Passes Plan to Encourage Cash Donations for Haiti Relief
- Budget Plan Revives President’s Call for New Charitable-Deduction Limits
- Supreme Court Campaign-Finance Ruling Could Aid Nonprofit Advocates
- Obama’s $50-Million Fund to Spur Innovation Gets Underway
- Senate and House Pass Jobs Bills with Tax Credits for Non Profit Employers
- Fundraisers Challenging Utah’s Registration Requirements
- Notre Dame Gets First Property Tax Bill from Indiana County
- Court Rejects Texas Rules on Solicitation Disclosure
- States and Local Governments Considering Taxing Non Profits
- Arizona Takes Donor’s Gift
- MA Non Profits May Lose Out Following Madoff Case Ruling
- IRS Gives Haiti Special Disaster Status
- Recent Estate-Tax Changes Did not Make Big Difference to Charitable Gifts
- IRS Adjusts Levels for Nominal Value Premiums
- Postal Service May Increase Rates and Reduce Service
- All Pages
Page 13 of 17
MA Non Profits May Lose Out Following Madoff Case Ruling
A number of Mass. non profits that were counting on receiving funding from the Shapiro Family Foundation may be disappointed if a federal judge’s decision in the Bernard Madoff bankruptcy case stands.
The Judge ruled that investors’ losses should be defined as the difference between the money paid into a Madoff account and the amount withdrawn before the collapse in December 2008 – not the balances shown on their final account statements.
The Shapiro Foundation suspended all new grant making activities in 2009 but stated it “would continue to pay on all current grant agreements.” However now, several MA hospitals, universities and museums, including Brigham and Women’s Hospital, Hebrew Senior Life and Boston’s Museum of Fine Arts, who have multi year grants from the Shapiro Foundation may not receive some or all of these future payments.