Word: tax-exempt
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...achieve something that ambitious would require three commodities prized in Washington: visibility, access and lots of money. In this case, those ingredients came together in June 2001 in the form of a tax-exempt charity--the Korea-U.S. Exchange Council (KORUSEC), which Buckham's firm formed and Kim funded. But if KORUSEC's goal was to make important people start paying attention to Kim, it may have worked too well. KORUSEC is one of a number of nonprofit organizations that have been caught in the controversy that now surrounds DeLay, who's facing questions about his fund raising...
KORUSEC finds itself in the spotlight just as tax-exempt groups are coming under new scrutiny. The Senate Finance Committee last week opened a probe into the charities set up by lobbyist Jack Abramoff, who is already under investigation on separate matters by another committee and the Justice Department. One issue is whether Abramoff improperly used nonprofits to pay for overseas trips to places other than South Korea for DeLay and House Administration Committee chairman Robert...
...some tax-exempt organizations, the question is whether their charitable works are an end in themselves--or a means to one. KORUSEC's stated goals included working for peace on the Korean peninsula and building stronger ties between U.S. and Korean leaders. But KORUSEC strengthened Kim's own ties in Washington as well. As chairman of KORUSEC, Kim--virtually its only donor--was host to a procession of congressional delegations through Korea, sat in the House gallery as DeLay's guest of honor at President Bush's 2003 State of the Union address and later that year met with Vice...
Harvard, a Massachusetts tax-exempt institution, has publicly invested in some of the companies doing business with the Khartoum regime and thus is underwriting the genocide. Harvard’s publicly disclosed stock investments include holdings in Petrochina—a Chinese oil company with established ties to the government and genocide in Sudan—valued at almost $4 million. The full extent of Harvard’s investment in Sudan is unknown, because Harvard is required only to disclose its common stock holdings, which comprise only $3 billion out of an endowment worth $22 billion...
...Harvard will pay Cambridge about $2.4 million for its tax-exempt property. City officials estimate that Harvard would pay about $33 million for that property if it were not exempt from taxation. MIT will increase its payments by 20 percent to $1.5 million next year. Both agreements call for a fixed annual increase in payments over the next several decades...