
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