The great tax escape that is America's nonprofit sector | FT Alphaville - 2 views
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Elizabeth Merritt on 14 May 18Philip Hackney, @EOTaxProf, notes "same orgs were exempt back in 1862 when first income tax was enacted"
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it turns out that the way the wealthy decide how to distribute cash is often even less fair than the way the state decides how to spend it.
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More than half of the highly conspicuous donations of the ultra-rich were injected directly into the endowments of their already rich alma maters. Much of the rest was given to hushed museums in the form of very expensive donated art, or to other places that rich old people tend to congregate, like cultural arts centers and high-end hospitals. In other words, the funds the rich were giving went largely to institutions that tended to the needs and prerogatives of the rich and privileged.
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