Thursday, December 27, 2007

Large increase in number of private foundations in China; government may encourage them more

A Chinese official says that the Chinese government should implement tax preferences for private foundations, which rely entirely on donations from private individuals and organizations. The official also said, more opaquely,"We will also draw up policies to guarantee the social welfare of the staff of these charity groups."  (What exactly does that mean -- that employees for private foundations will get better benefits?)

According to the Chinese government, the number of private foundations has grown rapidly in recent years. By the end of 2006, China had 795 public foundations (which can accept public funds), up 3.1 percent (from previous year?) and 349 private foundations, an increase of 71.1 percent.  In some cities, including Beijing, there are more private foundations than public ones.

rak

http://lawprofessors.typepad.com/nonprofit/2007/12/large-increase.html

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