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Good to know that the health and human services of the nation are so well

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helderheid Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-21-06 12:36 PM
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Good to know that the health and human services of the nation are so well
monitered by such a Christian soul.

HHS Secretary's Fund Gave Little to Charity

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

While Mike Leavitt alone has claimed about $1.2 million in tax write-offs since 2000, the foundation gave away only $49,000 in 2002 and $52,000 the next year, according to tax returns and other documents filed by the foundation. Meanwhile, the foundation's assets have been used for a $332,000 loan to Leavitt Land and Investment Inc., in which the secretary owns a significant stake, and other secured loans for insurance and real estate deals, said Alan A. Jones, a trustee of the organization.

Leavitt Land and Investment, in turn, extended an interest-free loan to Leavitt in 2002 valued at more than $250,001, according to a recent financial disclosure.

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http://www.washingtonpost.com/wp-dyn/content/article/2006/07/20/AR2006072001906.html
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helderheid Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-21-06 12:41 PM
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