In a highly-anticipated overhaul, the IRS has successfully revised its rules for charities filing taxes. Form 990 will now require charities to disclose employee salaries greater than $150,000 and will also ask organizations to report "key employees" who control a 10% or greater portion of the charity's activities. The changes will arguably make many charities more transparent and therefore easier to research on behalf of potential donors.
Guidestar.org, the non-profit data kings, will use this new information to provide more comprehensive analysis of the non-profits in its database, all in the attempt to encourage charitable giving by providing individual donors (and their estate planners) with the facts they need.
Earlier in the year, rumors swirled about a potential Prada IPO, divesting the company of a third of its shares and forcing the Prada family to reduce drastically its 95% stake. It's not news that the design house needs cash -- experts have criticized the house for neglecting to stake a claim in burgeoning Asian markets, and the house is in debt after a 1999 shopping spree that included Jil Sander and Helmut Lang. Enterprising CEO Patrizio Bertelli (husband to design brainiac Miuccia Prada) noted after the New Year that Prada might hit the chopping block in Milan by year's end.
On September 18, Sotheby's will auction 118 lots of rare (and rarely at auction) Indian and Southeast Asian paintings, miniatures and objects. The group is expected to fetch a total of between $2.3 and $3.2 million. Sotheby's has experienced unusually high prices for traditional Indian art in recent years, as economic growth in India appears exponential, and young collectors turn from modern pieces to those artists' historical roots.
Clutch maven Lauren Merkin has turned her talents to travel with a new line of small leather accessories that will have you eager to take a spontaneous trip. Each leather item is available in teal, eggplant, rust, camel or black, featuring playful detailing and lined in micro-fleece. Prices range from $25 for the leather luggage tag to $250 for the first laptop sleeve that you won't want to hide in the bottom of your totebag. Check out the entire line plus a few of Merkin's latest handbags in the gallery. To order, head to laurenmerkin.com.
Recently named non-profit organization of the year by the Direct Marketing Association's Non-Profit Federation, Operation Smile has performed over 115,000 surgeries to repair children's cleft lips and cleft palates. Dr. Bill (a plastic surgeon) and Kathy (a clinical social worker) McGee founded Operation Smile in 1982 and have since organized missions in 26 countries annually, where medical volunteers travel to perform free surgeries on children and young adults with facial deformities. A popular cause among many high-profile socials (Donald Trump, Jr. and his wife recently volunteered in Nicaragua), Operation Smile stands to gain even greater public prominence -- Cindy McCain sits on the board.
Posted Aug 23rd 2008 12:03PM by Tracy Chait Filed under: Wine
Summers Winery has announced it will release a limited-production Bordeaux-style blend this November, aptly named Checkmate (a portion of the winery's grapes are grown in Knight's Valley, and this blend is bound to be a "grandmaster" of wine). Just 75 cases were produced of this blend of Cab Sauv, Merlot, Cab Franc and Petit Verdot, all grown in northern Napa. This particular wine has been in the wings for quite some time. All grapes were harvested and sorted by hand in 2005, and a mere three barrels from the 600 produced will wear the Checkmate label.
Among amenities like 24-hour multi-lingual concierge service and Selene marble baths, the Upper East Side's Lowell New York does not neglect your pampered pet when it comes to luxe service. Room service is available around the clock for pup and owner alike, and the pet menu serves up such dishes as filet mignon tartar and buffalo marrow. Custom orders can be prepared on a whim, and if it's just a snack that's in order, the hotel has gone to the trouble to import Pure Fish Skin Chews from Iceland. Bon appetit, indeed.
Travel + Leisure has announced its collaboration with 18 prominent artists including Maya Lin, Manolo Blahnik and April Gornik, to create specially-commissioned pieces to be auctioned as part of its second annual Project Globe event. Following the auction, the magazine will donate all proceeds to Future Generations, a non-profit conservation and community development organization. The online auction starts today at tlprojectglobe.com, where bidders are swiftly staking their claims.
The diverse group of photographs, sculptures and jewelry, all of which aim to celebrate travel's positive impact, will be shown at GlassHouses in New York City on September 19 and 20. Photographs from the auctioned items will be featured in Travel + Leisure's October Style + Culture issue, on newsstands September 23. See the gallery for a selection of items at auction.
Philip Treacy's latest creation -- a bright pink abstraction of the breast cancer ribbon -- will be sold exclusively at Selfridges with all proceeds going to Breast Cancer Care. Of course Treacy is the milliner behind the boldest fashion statements from the likes of Sarah Jessica Parker and Kate Moss. He was also the genius who designed Camilla Parker Bowles's matrimonial millinery. Each one of the special "Pink Knot Hats" will be made to order. Contact Selfridges for more information and see philiptreacy.co.uk for his latest ready-to-wear collection.
The latest in the Hermes collection, the Jypsière (aka the Birkin messenger), was designed by Jean Paul Gaultier, who wore the androgynous shoulder bag down the runway following his Fall 08 show for Hermes. Waiting lists are long in the U.S., where the bag has yet to make an appearance. Eager shoppers have been told the satchel should be stateside by the end of the month.
Slung casually over the back of a wild yak in the fall ad campaign, we hope that acquiring this piece won't be quite so difficult as it looks in the pictures. Though if you must muscle a one-ton beast over a Himalayan mountain pass, best do it with your Hermes saddle and your Jypsière. The Jypsière will be available in multiple colors and leathers. The version seen above retails for $11,365.
Globe-Trotter, the British luggage designer which since 1897 has furnished luxury carryalls for the likes of Queen Elizabeth II and Winston Churchill, will soon add another formidable piece to its collection: a bulletproof case designed by Ross Lovegrove. Weighing in at under three pounds, it's the lightest rigid suitcase of its kind. Even before this news, Globe-Trotter was getting around: the luggage maker recently collaborated with J.Crew to craft limited edition pieces for its new luggage collection, and it showed up last year in the Conran Shop with a special rolling fashion statement.
The Lovegrove piece will make its debut during New York Fashion Week in September, posing from the windows at Moss. Until then, you can still get the perennial classic, the Centenary trolley suitcase in orange (designed by hand from Vulcan Fibre and lined in silk) at Moss for $1,580. The Lovegrove designed Air Cabin, by comparison, will retail for $3,500.
Evian has launched a new, smaller bottle of water -- with kid-friendly graphics and a reminder to moms that a few laps around the playground do leave Junior rather parched. The 330 mL mini bottle was designed to fit neatly into a kid's lunchbox, a child's grip and the back to school shopping list. The six-pack of French Alps water has a suggested retail price of $5.99 and will arrive on shelves this month.
Following early speculation about what exactly Commes des Garcons would come up with for its collaboration with H&M, a couple of photos have surfaced of the new line, which will hit stores for, oh, about 30 seconds in early November. The collection draws on designer Rei Kawakubo's trademark deconstructed jackets and cropped pants, mostly in black with the occasional polka dot. You can see for yourself in the September issue of W (on newsstands today).
Dossier, the bi-annual arts and culture mag, has corralled some of its favorite artists, musicians and stylists (including Zac Posen and Fanny Bostrom) to hand-craft 150 limited edition totes. The bags make use of a variety of techniques: woodblock prints, quilting, collage and photo transfers. Each piece is signed by the artist, and the bags are available through Dossier's site (note you will only know what bag you're getting once you place your order). You can also snag one while the snagging's good at Manhattan's I Heart, at 262 Mott Street. Each retails for just $25 so you best order quickly.
The Campaign for Mayo Clinic is nearing the end of its five year mission to raise over a billion dollars for continued patient care, research and education. The largest non-profit practice group in the world, the Mayo Clinic is preparing for extensive Medicare cuts and other reductions in government reimbursement for medical care. The campaign began in 2005 with a significant leadership gift of $25 million from the CEO of Marriott International, Bill Marriott, whose daughter was cared for at the Mayo Clinic in the 1960s.
The campaign recently surpassed the $1 billion mark but has a bit further to go to reach its ultimate goal of $1.25 billion by the end of 2009. Most gifts have come from former patients, but the Clinic's development staff hopes that its call to the general public in May will help the Campaign meet its goal on time.
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In a highly-anticipated overhaul, the IRS has successfully revised its rules for charities filing taxes. Form 990 will now require charities to disclose employee salaries greater than $150,000 and will also ask organizations to report "key employees" who control a 10% or greater portion of the charity's activities. The changes will arguably make many charities more transparent and therefore easier to research on behalf of potential donors. .jpg)
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