charity

10:28 am
Sat May 4, 2013

Bloomberg: Kaiser Charity Exploits Loophole

Lead in text: 
An analysis of the 2011 tax return of the George Kaiser Family Foundation shows how some types of charities take advantage of federal tax law to support for-profit ventures.
When Oklahoma energy billionaire George Kaiser opened the Northeast Gateway liquid natural gas terminal in 2008, the floating depot's first delivery was shipped on the Excellence, a 909-foot supertanker that holds 138,000 cubic meters of LNG -- enough gas to meet more than 4 percent of daily U.S. demand.