IRS: 275,000 Organizations Lose Tax-Exempt Status ArticleOn June 8, the Internal Revenue Service announced that 275,000 tax-exempt organizations have automatically lost their tax-exempt status for failure to file required annual information returns for three consecutive years. The list includes some local alumni association chapters, institutionally related foundations and fraternities and sororities.
More Foundations Relying on Endowment Management Fee to Fund Operations ArticleMore institutionally related foundations are using a management fee on endowed funds to fund their operations, according to the results of a CASE survey on foundation funding sources and budget restructuring.