Tweet
Too many charities are abusing their tax-exempt status to enrich insiders at the expense of their mission and Congress needs to tighten rules and step up enforcement, lawmakers said Tuesday.
"Too many well-meaning charities have fallen prey to the charlatans' pitch about easy money,'' said Senate Finance Committee Chairman Charles Grassley.
"Some charities are blinded by their own mission and the need for additional dollars. These charities are willing to sign onto deals that provide dollars to promoters and insiders, but only pennies to the charity,'' the Iowa Republican added... [read more at money.cnn.com]
"Too many well-meaning charities have fallen prey to the charlatans' pitch about easy money,'' said Senate Finance Committee Chairman Charles Grassley.
"Some charities are blinded by their own mission and the need for additional dollars. These charities are willing to sign onto deals that provide dollars to promoters and insiders, but only pennies to the charity,'' the Iowa Republican added... [read more at money.cnn.com]