Transparency - IRS imposes penalty on charity that allegedly inflated pharmaceutical donation

In an article by The Chronicle of Philanthropy by Caroline Preston entitled “Update: IRS Levies Fine on Food for the Hungry Over Drug Valuations” it describes how the US IRS has levied a penalty against a charity that misreported donations on its annual return.

The articles is at: http://philanthropy.com/article/Update-IRS-Levies-Fine-on/130539/

The article notes: “All told, the IRS letter says, Food for the Hungry’s noncash contributions should have been listed on its 2008 tax form as $92,633, not $75.7-million.”