National Heritage Foundation
The National Heritage Foundation (NHF), based in Falls Church, Virginia (EIN 58-2085326), was established in 1994. It shares an address, web site and many of its executive staff with Congressional District Programs.[1]
The NHF attracted accusations that it helped donors get inappropriate tax breaks. The organization said it complied with the law.[2] In 2006, the Pension Protection Act outlawed a practice of the organization of allowing employees to donate, get a tax reduction for it, then draw a salary from the same pool of money.[2] It was also one of the largest operations using a practice called charitable-split dollar, which was prohibited in a new law in 1999. Members would make tax-deductible donations, that the organization would use to pay for life insurance policies. Most of these were taken out for the benefit of the donors' heirs, and only a small portion went to charity.[2]
In January 2009, the NHF filed for chapter 11 bankruptcy protection,[3] after the court ordered it to pay millions of dollar to donors it said were misled.[2] In October a reorganization plan was approved by the Federal Bankruptcy Court for the Eastern District of Virginia.[3]
References
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- ↑ 2.0 2.1 2.2 2.3 National Heritage Foundation Files for Bankruptcy After Court Orders Payout. By: Blum, Debra E., Chronicle of Philanthropy, 1040676X, 2/12/2009, Vol. 21, Issue 8
- ↑ 3.0 3.1 Lua error in package.lua at line 80: module 'strict' not found.
External links
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