Monday, December 22, 2014

Association of Fundraising Professionals - AFP

Association of Fundraising Professionals - AFP: "Public Policy Update (12/20/2104): President Obama has signed into law H.R. 5771, which includes the Charitable IRA Rollover provision. But the provision, which allows donors to transfer up to $100,000 per year to a charity without having to count the gifts as part of their taxable income (and forego the deduction) is only extended through the end of 2014!"



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Friday, December 19, 2014

Were These The Extenders That We Were Waiting For? | Planned Giving Design Center

Were These The Extenders That We Were Waiting For? | Planned Giving Design Center

HMRC tax statistics suggest large rise in charitable giving

HMRC tax statistics suggest large rise in charitable giving: "Tax relief on giving is expected to rise by 11 per cent in the year to March 2015, suggesting a large increase in donation income, according to provisional figures published today by HM Revenue & Customs.

HMRC has published provisional figures for the year ending March 2015, showing it expects gift aid to rise from £1.07bn to £1.19bn. This follows three successive years in which the value of gift aid fell."



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Thursday, December 18, 2014

Two-Week Reprieve For Charitable Tax Provisions - The NonProfit TimesThe NonProfit Times

Two-Week Reprieve For Charitable Tax Provisions - The NonProfit TimesThe NonProfit Times: "Three charitable tax provisions were among the dozens included in a bill that passed the Senate last night that retroactively extended expired tax provisions through the end of this year."



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The CRomnibus Piñata: Unwanted Gifts for the Nonprofit Sector in the Spending Bill - NPQ - Nonprofit Quarterly

The CRomnibus Piñata: Unwanted Gifts for the Nonprofit Sector in the Spending Bill - NPQ - Nonprofit Quarterly

IRA Rollover Approved by Congress, Heads to White House For Signing - Press - AFP

IRA Rollover Approved by Congress, Heads to White House For Signing - Press - AFP: "IRA Rollover Approved by Congress, Heads to White House For Signing
The IRA Rollover was approved by Congress as part of a bill a tax extenders package, H.R. 5771, the Taxpayer Increase Prevention Act.

However, the bill only provides for a one-year retroactive extension of the rollover provision, making it in effect until the end of 2014."



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Thursday, December 11, 2014

Charity Tax-Break Effort Falters as White House Threatens Veto - Businessweek

Charity Tax-Break Effort Falters as White House Threatens Veto - Businessweek: "U.S. lawmakers’ bid to permanently lock in three tax breaks for charitable giving faltered as the White House threatened to veto the bipartisan measure.

Charities had been rallying supporters behind the $11 billion bill, which would have revived expired tax incentives for donations of conservation easements, money from retirement accounts and food inventory."



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Six-month delay for 20 per cent tax on direct mail fundraising

Six-month delay for 20 per cent tax on direct mail fundraising: "Changes in the VAT rules around direct mail fundraising which would have cost the charity sector tens of millions of pounds a year will not now be introduced until April 2015, the Charity Tax Group has said.

Earlier this year, HM Revenue & Customs said that “single-sourcing” contracts for direct mail should be standard-rated for VAT, meaning that charities would have to pay an extra 20 per cent on printing and production. Charities and suppliers had previously believed these contracts should be zero-rated for VAT."



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Tuesday, December 09, 2014

Year-end charitable giving tips offered | Norwalk Reflector

Year-end charitable giving tips offered | Norwalk Reflector: "DeWine encourages Ohioans to determine in advance which charity or charities to support. Developing a plan allows donors to research organizations before making payments and to respond to unexpected requests by explaining that they already have a donation plan in place.

Most charitable organizations that operate in Ohio or solicit Ohioans for donations must file with the Ohio Attorney General’s Office, and more than 36,000 organizations have filed.

The Attorney General’s Charitable Law provides oversight to make sure donations are not misappropriated and that charitable proceeds are used for charitable purposes."



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Senator Targets Tax Breaks for Sports Leagues, Stars’ Charities – Philanthropy Today - Blogs - The Chronicle of Philanthropy

Senator Targets Tax Breaks for Sports Leagues, Stars’ Charities – Philanthropy Today - Blogs - The Chronicle of Philanthropy: " new report from Sen. Tom Coburn details nonprofit organizations the Oklahoma Republican says collect millions of dollars but do little to justify their freedom from taxation and calls for reforms to rein them in, Buzzfeed writes."



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Improper Donor Influence—or Not? A North Carolina Case Lesson - NPQ - Nonprofit Quarterly

Improper Donor Influence—or Not? A North Carolina Case Lesson - NPQ - Nonprofit Quarterly

Crucial Tax Incentives for Nonprofits on the Docket for Lame Duck Congress - NPQ - Nonprofit Quarterly

Crucial Tax Incentives for Nonprofits on the Docket for Lame Duck Congress - NPQ - Nonprofit Quarterly: "The legislation passed by the House this week, H.R. 5771, titled the “Tax Increase Prevention Act of 2014,” includes tax extenders for 2014, such as the following provisions of the tax code that will otherwise expire this year:"



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Monday, December 08, 2014

Osborne announces VAT refunds for hospice charities | New rule on vulnerable donors | Power to ban trustees 'too broad' | Third Sector

Osborne announces VAT refunds for hospice charities | New rule on vulnerable donors | Power to ban trustees 'too broad' | Third Sector: "Fundraisers should not accept donations from people who appear unable to make a proper decision, according to a new rule in the Institute of Fundraising's Code of Fundraising Practice. The Fundraising Standards Board asked the IoF to consider including advice on vulnerable donors in the code after adjudication in April following a complaint against the veterinary charity PDSA, which had accepted several large donations from a woman with schizophrenia."



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Global Campaign for a Culture of Philanthropy | Nexus Global Youth Summit

Global Campaign for a Culture of Philanthropy | Nexus Global Youth Summit: "Rules to Give By: A Global Philanthropy Legal Environment Index is the world’s first study on government support for philanthropy in all 193 United Nations Member States. It offers an index of countries’ performance based on the regulatory and tax conditions associated with philanthropy, and investigates the relationship between the presence of such infrastructure and the percentage of people donating money to charity according to the 2013 World Giving Index.
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