Doc,

I am surprised that this story has not gotten more attention: The Nature Conservancy used to be one of my favorite charities, but after this, I’m not sure.

The Nature Conservancy (supposedly) uses its money to buy environmentally-sensitive land, keeping it from development. I have always liked such common-sense, free-market thinking: instead of lobbying the government to change the rules, why not just play by the rules and buy the land?

Apparently, The Conservancy has been selling sensitive land at huge losses to its friends (donors) - for development. The friends get the land very cheap, and they are free to build on it (with some restrictions). They donate money to the charity to cover its loss, but pocket the tax deduction for themselves. Everybody wins!

It’s disgusting.

A Nature Conservancy trustee, Philip Reed Jr. of New Jersey, explained: "I don't want to attract any attention to this in any way."

I bet you don't.

A quick thanks to Government Monkey for the link.
- posted by total @ 5/09/2003 05:36:00 AM .