Friday, July 24, 2009

Gates to Receive Award Despite Controversy

Bill Gates is in New Delhi today to receive the Indira Gandhi Prize for Peace, Disarmament, and Development on behalf of the Gates Foundation for its philanthropic work in India.  The Foundation also announced another $80 million grant to Avahan, an Indian AIDS prevention program started in 2003.  Avahan has come under criticism for high executive compensation, failure to meet goals, and the unsustainable nature of some of its programs.

IRS Releases Final Regulations for Form 990-EZ

On Thursday, the IRS released its final regulations for the 990-EZ form, which may be used by “tax-exempt organizations whose annual gross receipts are not normally in excess of $25,000”.  The regulations clarify which types of organizations  are able to use the 990-EZ to meet their filing requirements.