Charities Fear New Pay Limits Will Hurt Executive Donations

Feb. 17, 2009, Wall Street Journal — Nonprofits already face the prospect of fewer donations amid turmoil at Wall Street firms and other companies. Now, they could face another donation deterrent: Washington's plans to curb executive pay.

Americans gave more than $300 billion to charity in 2007, according to the most recent figures. Some of the largest gifts from that pot have come from wealthy Wall Street bosses.