Archive Report
Archive Report
Role of Foundations in American Life
Patman's Study of Tax-Exempt Foundations
The Role of tax-exempt foundations in American life is under congressional scrutiny for the third time in a dozen years. Rep. Wright Patman (D Texas), until 1963 chairman of the House Small Business Committee, recently issued another in a series of interim reports on what has been largely a one-man study of the impact of foundations and charitable trusts on the nation's economy.1 Patman has accused foundations of wholesale tax law violations and abuse of the privilege of tax exemption. Public hearings before a subcommittee of the House Small Business Committee are expected to be held during the coming summer.
Patman's interim reports, the first of which appeared last July and the most recent on Jan. ...