Charity

US charitable giving hit record $471B in 2020

Galvanized by the racial justice protests and the coronavirus pandemic, charitable giving in the United States reached a record $471 billion in 2020, according to a report released Tuesday that offers a comprehensive look at American philanthropy.

Bill Gates and Melinda French Gates explore changes to foundation

Bill Gates and Melinda French Gates are discussing changes to the structure of their foundation to add more governance and independence as the philanthropists’ planned divorce calls into question the direction of one of the world’s largest charities.

Pandemic good Samaritan faces hefty tax bill for his efforts

A Connecticut middle school teacher who raised $41,000 to help hundreds of his struggling neighbors during the COVID-19 pandemic got an unwelcome surprise for his charitable efforts: a form stating he could owe $16,031 in income taxes.

Pandemic puts 1 in 3 nonprofits in financial jeopardy

More than one-third of U.S. nonprofits are in jeopardy of closing within two years because of the financial harm inflicted by the viral pandemic, according to a study being released Wednesday by the philanthropy research group Candid and the Center for Disaster Philanthropy.