Posted by Meredith Turney at 12:00 am on May 20, 2008 Comments Off on Assemblyman Ted Lieu: Foundations Should Redistribute Wealth
A few weeks ago I wrote about
AB 624, legislation that will require all private, corporate or
public operating foundations and nonprofits incorporated in
California, with assets over $250 million, to collect gender and
racial data on their board and staff. It also requires these groups
to report the number of grant dollars going to ethnic minorities,
the disabled, low-income communities and lesbian, gay, bisexual and
transgender recipients. After the data is collected, it must be
posted on the foundation’s web site under a section labeled
“DIVERSITY.” Of course, all of this is done in the name of
“transparency” and forcing greater aid for “minorities.”
This is a patently bad bill; requiring philanthropic
organizations to report on their board, staff and grant
beneficiaries raises all sorts of questions about privacy and
unconstitutionality. In addition, the government has no business in
the donations of private citizens to their favorite charities.
Last week the bill was heard in the Senate Business, Professions
and Economic Development… Read More