Friday, July 21, 2006

RSTDT Leavitt's Charity Gives Crumbs

Another entry in the series Republicans say the darndest things.

The Post reports
HHS Secretary's Fund Gave Little to Charity

By Jonathan Weisman
Washington Post Staff Writer
Friday, July 21, 2006; A01

Health and Human Services Secretary Mike Leavitt and his relatives have claimed millions of dollars in tax deductions through a type of charitable foundation they created that until recently paid out very little in actual charity, tax records show.

Instead, much of the foundation's money has been invested or lent to the family's business interests and real estate holdings, or contributed to the Leavitt family genealogical society.

The Leavitts used nearly $9 million of their assets to set up the foundation in 2000 under an obscure provision of the federal tax code. But unlike standard private foundations, which are required to give away at least 5 percent of their assets to charitable causes, the Leavitt organization donated less than 1 percent of its assets in 2002, 2003 and 2004. The donations jumped to 6.3 percent of total assets last year, after the sale of family water interests that also allowed the foundation to increase its lending to Leavitt business interests...
Previous entry in the series Republicans say the darndest things:
RSTDT Graham - Kyl fabrication flops in front of the the Supremes

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