Details about this story

• Source: Chronicle of Philanthropy
• Date: January 18, 2008
• URL: Read the story
• Bylines: Peter Panepento , Grant Williams
• Topics: Non-Profits
• Data Types: Federal Data
• Description/Excerpt: Nonprofit organizations make billions of dollars in income from activities unrelated to their core missions, but roughly half of the groups raising such funds pay little or nothing in federal taxes on the income. The pattern holds true for the very largest charities, according to a Chronicle review of the organizations’ most recent 990-T tax forms, which were made available to the public for the first time thanks to a change in federal law. Of the 91 large nonprofit groups analyzed, 46 - or 51 percent - listed zero or negative taxable income after taking deductions and making other calculations. In all, the 91 groups in the Chronicle‘s review generated $412.9-million in income through such activities as operating museum shops, bookstores, parking facilities, restaurants, and magazines.
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