Category Archives: Campaign 2012

by

Nonprofit Leaders Urge Obama and Romney to Protect Tax Break

Leaders of big nationwide nonprofits sent letters to President Obama and Mitt Romney on Thursday urging the presidential candidates to reconsider their proposals to cut the charitable tax deduction. (See the letter to Mr. Obama and the one to Mr. Romney.)

The leaders also announced that they have scheduled a gathering on December 4 and 5 to bring hundreds of its members to Washington to tell members of Congress that any tax changes that led to decline in private giving would devastate nonprofits…

by

Romney Limits His Charitable Deduction to Increase Tax Bill

Mitt Romney and his wife, Ann, contributed $4-million to charity last year but claimed a tax deduction for only $2.25-million, according to their 2011 tax return and other financial information released today.

They limited their deduction because their income was less than the amount they reported last January on an estimated tax return, and their donations “would have significantly reduced their tax obligation for the year,” according to a letter from Brad Malt, a family trustee.

Mr. Romney wan…

by

Obamas Gave 22% of Their Income to Charity

President Obama and his wife, Michelle, gave nearly 22 percent of their income to charity in 2011, according to tax returns made public today.

The couple reported $789,674 in income and gave $172,130 to charity.

The largest gift was a $117,130 contribution to the Fisher House Foundation, a group that provides free or low-cost housing to military personnel and their families while they are receiving treatment at military medical centers. Mr. Obama has been giving the charity the after-tax proceed…

by

Quiet Time on Capitol Hill Offers Opportunity for Charities

Legislative decisions often get delayed in a presidential-election year, but that makes 2012 a good time to contact members of Congress and their aides, says Jerry McCoy, a Washington lawyer who advises charities.

“This is a quiet time, and members are less distracted,” says Mr. McCoy. He says that point was brought home to him by two Congressional staff members who last week held an informal, off-the-record gathering with Mr. McCoy and members of the Association of Small Foundations.

One piece …

by

Santorums Gave 2.2% of Income to Charity

Rick Santorum and his wife, Karen, gave 2.2 percent of their income to charity from 2007 to 2010, according to tax returns the candidate for the Republican presidential nomination released last night to Politico, a newspaper that covers politics.

The Santorums gave 1.8 percent of their $930,227 in total income to charity in 2010. In 2009, they donated 2.7 percent of their $1,127,266 total income.

The tax returns do not disclose the names of the organizations they supported.

The four years of ret…

by

Romneys Gave 16% of Their Income to Charity

Mitt Romney and his wife, Ann, gave more than 16 percent of their income to charity in 2010 and 2011, according to tax returns made public Tuesday

Mr. Romney, the Republican candidate for President, had been facing mounting public pressure to release his tax returns. Newt Gingrich, who is challenging Mr. Romney and others for the Republican nomination, disclosed recently that he had donated 2.6-percent of his income to charity in 2010.

According to the records released by the Romney campaign, th…

by

Newt Gingrich Donated 2.6% of Income to Charity in 2010

Newt Gingrich, the Republican presidential contender, and his wife, Callista, contributed $81,133 to charity in 2010, while the couple’s foundation made $120,000 in grants, according to tax returns Mr. Gingrich released last night.

The Gingriches, who reported adjusted gross income of about $3.1-million, said they donated $9,540 to the Basilica of the National Shrine of the Immaculate Conception, $3,100 to miscellaneous causes, and $68,493 in unspecified cash contributions through their business…