Friday, August 29, 2014

Push the Senate to Pass the America Gives More Act - Opinion - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

 Via the Chroincle Push the Senate to Pass the America Gives More Act - Opinion - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: ifteen days. That’s about how much time is left on the legislative calendar before Congress adjourns this year. That’s not much, and it could be all the time nonprofit advocates have left to make sure that an important tax bill designed to encourage charitable giving becomes law.

Thursday, August 28, 2014

Risk of Aus Charities Financing Terrorism | Pro Bono Australia

Risk of Aus Charities Financing Terrorism | Pro Bono Australia: The charity regulator has warned that charities may be at risk of having their charitable funds that are sent overseas being diverted or otherwise misused, even if their intentions are in line with their charitable purposes.

The ACNC has called on charities sending money overseas to be vigilant and diligent in dealing with their partner organisations overseas.

How can charities comply with the new lobbying act? | Third Sector

How can charities comply with the new lobbying act? | Third Sector: The Electoral Commission's guidance on the subject has not had a warm reception. Sam Burne James reports

Rick Cohen: In a mid-term election year, charity lands on the agenda | Third Sector

Rick Cohen: In a mid-term election year, charity lands on the agenda | Third Sector: Charitable giving incentives are on the federal government's docket this summer. By mid-September, the US Senate will have to decide whether to follow the Republican-dominated House of Representatives and pass the America Gives More Act. The legislation would extend three expired incentives for donations of food, conservation easements and – perhaps most significantly – donations of money from the retirement accounts of individual taxpayers aged 70 and one half or older.

EU data protection proposals would kill fundraisers’ mailing lists, says report

EU data protection proposals would kill fundraisers’ mailing lists, says report: Proposed EU data protection rules could destroy mailing lists relied on by charity fundraisers, and would present “the biggest challenge in fundraising for a generation”, according to a report published this week by marketing agency Medialab.

The EU has announced plans for a comprehensive reform of data protection rules which will require individuals to give explicit consent before a company or charity can process their personal data. The rules could come into force as early as 2017.

Thursday, August 21, 2014

thebahamasweekly.com - Impact of VAT on Charities Clarified by Bahamas Ministry of Finance

thebahamasweekly.com - Impact of VAT on Charities Clarified by Bahamas Ministry of Finance: Representatives of the VAT team of the Ministry of Finance emphasized that services provided by local charities and non-governmental organizations (NGOs) that directly relate to charitable activities will be VAT exempt and the VAT programme provides for recouping of some taxes paid on goods for the use of such community services.

Tuesday, August 12, 2014

New 1023-EZ Form Released: Streamlines Process for Eligible Small Charities to Apply for IRC Section 501(c)(3) Tax-Exempt Status and Seek Retroactive Reinstatement | Planned Giving Design Center

New 1023-EZ Form Released: Streamlines Process for Eligible Small Charities to Apply for IRC Section 501(c)(3) Tax-Exempt Status and Seek Retroactive Reinstatement | Planned Giving Design Center: On July 1, 2014, the IRS issued Form 1023-EZ (Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code), along with instructions and a detailed Revenue Procedure (Rev. Proc. 2004-40) that sets forth the rules for the use of the form and an Information Release (IR-2004-77). Beginning immediately, certain eligible smaller charities seeking tax exemption under IRC� 501(c)(3) can use the 3-page Form 1023-EZ to see tax exempt tax from the IRS rather than the lengthy and complicated Form 1023, which is a 26-page form that consists of a 12-page “core form” plus eight potentially-applicable schedules and a checklist. The IRS estimates that up to 70% of new charities will be able to use the Form 1023-EZ, and anticipates that the use of Form 1023-EZ for small charities and the existing Form 1023 for larger charities, will enable the IRS to more quickly process all exemption applications. In its news release accompanying the Form 1023-EZ, the IRS indicates that it currently has more than 60,000 exemption applications in its “backlog,” many of which have been pending for nine months or more.

Tuesday, July 22, 2014

Mikulski Announces Senate Passage of Legislation Protecting Economic Security of Those at High Risk of Terrorist Attack - Top News - InsuranceNewsNet.com

Mikulski Announces Senate Passage of Legislation Protecting Economic Security of Those at High Risk of Terrorist Attack - Top News - InsuranceNewsNet.com: U.S. Senator Barbara A. Mikulski (D-Md.) today announced Senate passage of the Terrorism Risk Insurance Program Reauthorization Act of 2014, legislation she cosponsored to extend the Terrorism Risk Insurance (TRIA) Program protecting the economic security of businesses and organizations at high-risk of terrorist attack.

GUEST COLUMN: Regulatory wake-up call for nonprofits - Buffalo - Business First

GUEST COLUMN: Regulatory wake-up call for nonprofits - Buffalo - Business First: The regulatory alarm clock went off July 1, 2014, for not-for-profit corporations in New York State. That was the deadline for complying with the Non-Profit Revitalization Act of 2013, which strengthens corporate governance requirements and modernizes operating requirements.

Friday, July 18, 2014

Bipartisan House Super-Majority Passes "America Gives More Act" | Council on Foundations

Bipartisan House Super-Majority Passes "America Gives More Act" | Council on Foundations: H.R. 4719 includes several provisions of particular importance to foundations. First, it would make the IRA charitable rollover permanent through a provision adapted from legislation sponsored by Congressman Aaron Schock (R-IL-18). Second, the bill includes a provision, adapted from legislation introduced by Congressman Erik Paulsen (R-MN-3), to simplify the two-tier excise tax on private foundations by replacing it with a single rate of one percent. The Council on Foundations has supported both of these provisions for many years.

Thursday, July 17, 2014

Y All the Fuss? | A challenge to the YMCA's tax-exempt status offers lessons for Treasure Valley businesses and nonprofits | News | Boise Weekly

Y All the Fuss? | A challenge to the YMCA's tax-exempt status offers lessons for Treasure Valley businesses and nonprofits | News | Boise Weekly: Normally, Ada County Commission meetings attract a handful of attendees. But at the July 3 meeting, the crowd swelled to around 220. Attendees included people from all walks of life, from the severely disabled and those living with illness or disease, to business professionals and athletic instructors.

The majority was there to show support for the Treasure Valley YMCA. In May, Ada County commissioners voted unanimously to reduce the West Boise YMCA's tax exemption rate from 100 percent to 19 percent. The change came on the heels of Axiom Fitness and Idaho Athletic Club both alleging the West Y's usage had dramatically changed to include more CrossFit and yoga facilities. But after hearing testimony from YMCA Chief Executive Director Jim Everett and beneficiaries of the Y's charitable services, commissioners reversed their earlier decision in a 3-0 vote July 2, reinstating the Y's 100 percent tax-exempt status.

Wednesday, July 16, 2014

Fundraising Professionals Hail New York Case Settlement, Encourage Donors to Take Wise Giving Steps | Motor E magazine

Press Release



Fundraising Professionals Hail New York Case Settlement, Encourage Donors to Take Wise Giving Steps | Motor E magazine: Arlington, VA (PRWEB) July 16, 2014

The Association of Fundraising Professionals (AFP) applauds the recent investigation by the New York State Attorney’s General Office into the Disabled Veterans National Foundation (DVNF), calling it a victory for ethical charities and fundraisers.

Wednesday, July 09, 2014

N.Y. State Delays a Board Provision of New Law on Nonprofits – Philanthropy Today - Blogs - The Chronicle of Philanthropy

N.Y. State Delays a Board Provision of New Law on Nonprofits – Philanthropy Today - Blogs - The Chronicle of Philanthropy: New York Gov. Andrew Cuomo signed legislation last week delaying a provision of the state’s sweeping overhaul of charity regulations that would bar employees of a charity from chairing its board of directors, reports the Associated Press.

Legislative sponsors of the bill said they wanted more time to study the impact of the restriction, which was sought by state Attorney General Eric Schneiderman as a means of ensuring board independence. The provision is now set to take effect on Jan. 1, 2016.

Monday, July 07, 2014

7520 Rate for July Stable at 2.2% | Planned Giving Design Center

7520 Rate for July Stable at 2.2% | Planned Giving Design Center: For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, the applicable federal rate under section 7520 for July 2014 is 2.2%; Stable with last month's rate.