No. There are specific tax rules on private foundations and they are extremely strict, in fact rather punitive. I believe what you’re seeing is Killary on the winning side of “Just Us”. Try it yourself and you’ll be lucky to only be bankrupted.
Persnick…Coincidentally I just finished reading an article I clicked on over at Drudge. The article is about the Leonardo DiCaprio Foundation (LDF) and its questionable ties to dirty money as well as its opaqueness.
It seems that LDF is “set up not as a nonprofit but instead as a donor-advised fund (DAF) attached to the California Community Foundation, which is a nonprofit, the LDF therefore is not required to file itemized public disclosures about its own revenue, expenditures and disbursements. “It’s difficult to characterize the giving of the DiCaprio Foundation because its status as part of the CCF makes it impossible to look at its finances,” industry trade journal Inside Philanthropy noted in 2015.”
According to the article operating as a DAF seems to be a rapidly growing trend (especially among the Hollywood Hypocrites) primarily due to the lack of transparency required. I’d never heard of a DAF prior to this, and apparently the LDF changed to a DAF from a small non-profit in 2008 and claims to have dispersed grants of 30 Million this year…but who’s checking?
Interesting story nkit. Sadly I’m not surprised. The IRS enforcement relating to nonprofits is ridiculously uneven, and in the Tea Party cases was absolutely partisan as well. Much smaller things can get a nonprofit, AND ITS officers/directors, hit for severe sanctions, including a 225% tax on purported wrongful payments.
To think that a complicated tax system created and maintained for the benefit of special interests could end up being corrupted and enforced unevenly!!!
Rob in Nova Scotia
August 17, 2016 11:52 am
Hillary isn’t a victim. Victims don’t usually leave a trail of dead people.
Amazing how the public perceives Trump as the bully and hilary as a victim.
The media……… the dark side of the force, very powerful and convincing.
Wonder if I could set up a foundation then give my pay to myself through it so it becomes a tax deductible donation to myself?
No. There are specific tax rules on private foundations and they are extremely strict, in fact rather punitive. I believe what you’re seeing is Killary on the winning side of “Just Us”. Try it yourself and you’ll be lucky to only be bankrupted.
Persnick…Coincidentally I just finished reading an article I clicked on over at Drudge. The article is about the Leonardo DiCaprio Foundation (LDF) and its questionable ties to dirty money as well as its opaqueness.
It seems that LDF is “set up not as a nonprofit but instead as a donor-advised fund (DAF) attached to the California Community Foundation, which is a nonprofit, the LDF therefore is not required to file itemized public disclosures about its own revenue, expenditures and disbursements. “It’s difficult to characterize the giving of the DiCaprio Foundation because its status as part of the CCF makes it impossible to look at its finances,” industry trade journal Inside Philanthropy noted in 2015.”
According to the article operating as a DAF seems to be a rapidly growing trend (especially among the Hollywood Hypocrites) primarily due to the lack of transparency required. I’d never heard of a DAF prior to this, and apparently the LDF changed to a DAF from a small non-profit in 2008 and claims to have dispersed grants of 30 Million this year…but who’s checking?
http://www.hollywoodreporter.com/features/leonardo-dicaprio-malaysian-money-scandal-920199
Interesting story nkit. Sadly I’m not surprised. The IRS enforcement relating to nonprofits is ridiculously uneven, and in the Tea Party cases was absolutely partisan as well. Much smaller things can get a nonprofit, AND ITS officers/directors, hit for severe sanctions, including a 225% tax on purported wrongful payments.
To think that a complicated tax system created and maintained for the benefit of special interests could end up being corrupted and enforced unevenly!!!
Hillary isn’t a victim. Victims don’t usually leave a trail of dead people.