Monday, December 19, 2011
The meeting will be held on Wednesday, December 21 at the Public Service Training Centre (Training Division) located on the third floor of the Ward Building at 6:00 p.m.
NPOs/NGOs are defined as not-for-profit/non-financial gain organisations that have a board, and have members that collect donations and membership fees, or that trade goods or services in exchange for money, goods or services.
Friday, December 16, 2011
Filing Deadline Extended to March 30 for Some Tax-Exempt Organizations
WASHINGTON — Tax-exempt organizations with January and February filing due dates will have until March 30, 2012, to file their annual returns, the Internal Revenue Service announced today.
IR-2011-120: Filing Deadline Extended to March 30 for Some Tax-Exempt Organizations
“Scam artist are active year round,” said IRS spokesman Michael Devine. “Don’t let them take advantage of your good intentions. Research unfamiliar organizations, check with the Better Business Bureau and the state attorney general’s office before making a donation.”
The IRS offers some reminders that individuals and businesses should keep in mind when making contributions to a charity.
Monday, December 12, 2011
HM Revenue & Customs (HMRC) pays around �1bn a year to charities and other qualifying bodies through Gift Aid.
Wednesday, December 07, 2011
Senator Criticizes Treasury Department Report on Giving - News - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
The report studied “supporting organizations,” a type of group that finances the activities of specific nonprofits, and donor-advised funds, which offer a way for people to give cash, stock or other assets and recommend when and to which charities the money is spent.
NEW YORK –A joint initiative to match volunteer attorneys with nonprofit organizations in need of legal counsel was announced Thursday by Attorney General Eric Schneiderman and New York State Bar Association President Vincent E. Doyle III. The innovative partnership called “Charity Corps” will help improve governance and legal compliance by assisting nonprofits that cannot afford legal counsel.
Tuesday, December 06, 2011
Monday, December 05, 2011
Overall, this initiative highlights the focus of the NY AG in preventing charitable fraud in breast cancer charities. This action also demonstrates that organizations, both charities and marketers, engaging in increasingly popular cause-related marketing campaigns should pay close attention to state regulatory requirements for these activities.
Friday, December 02, 2011
Tuesday, November 22, 2011
Deductibility rate for charitable donations must be preserved | The News Journal | delawareonline.com
Tuesday, November 15, 2011
White House Hosts Meeting on Nonprofit Leadership - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
November 14, 2011, 5:07 pm
By Lisa Chiu
The White House has invited leaders from about 200 nonprofits to Washington to take part in a daylong program that will focus on the role of nonprofits and how charities can develop effective leaders.
The event, which takes place Tuesday at the national office of the American Red Cross and is closed to the public, will feature discussions led by White House officials and business and nonprofit leaders.
Monday, November 14, 2011
Charitable Deduction Not Discussed at Deficit Talks - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
The committee is working to trim more than $1.2-trillion from the federal deficit over 10 years.
Friday, November 11, 2011
Accounting Board to Research Nonprofit Financial Standards - News - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Friday, November 04, 2011
The Nonprofit Quarterly | @npquarterly | Can You Hear Me Now? Nonprofit Voices at the Supercommittee
Thursday, November 03, 2011
Grassley Calls on Treasury to Close Supporting Org Pay-Out "Loophole" | Planned Giving Design Center
Tuesday, November 01, 2011
by Mary Swire, Tax-News.com, Hong Kong
01 November 2011
The Australian government has launched a consultation on a new statutory definition of charity, applicable across all Commonwealth laws from July 1, 2013.
The Australian government announced in the 2011-12 Budget that it would introduce a new statutory definition of charity, and a Consultation Paper has subsequently been released outlining the background, including previous recommendations and inquiries, as well as developments that have occurred since 2003, when the issue was last substantially examined.
Monday, October 31, 2011
Friday, October 28, 2011
While the first steps will be small, the government’s ultimate goal is a shift in public expectations as to the role of government in assisting social causes.
Viewpoints: Are feds set to pull rug from under charities? - Sacramento Opinion - Sacramento Editorial | Sacramento Bee
Viewpoints: Are feds set to pull rug from under charities? - Sacramento Opinion - Sacramento Editorial | Sacramento Bee: ndrew Watt, national president of the Association of Fundraising Professionals, put it this way: "2008 and 2009 were two of the worst fundraising years ever, with significant drops in giving across the board affecting every type of charity. Capping the deduction just when we're starting to see the smallest signs of economic recovery is exactly the wrong move to make."
Wednesday, October 26, 2011
Monday, October 24, 2011
But the agreements -- involving the Lake Erie College of Osteopathic Medicine, Mercyhurst College and UPMC Hamot -- are all different.
Friday, October 21, 2011
Hurd suggested in a world where "anecdotes will no longer be funded’" and charities must show the measurable impact they are having in order to appease government commissioners and fulfil payment by results funding strategies, charitable trusts might collaborate to create impact measures that were coherent across sub-sectors and cost-effective even for smaller charities.
Thursday, October 20, 2011
Our View: Nonprofits won't take a back seat in job creation | The Portland Press Herald / Maine Sunday Telegram
Wednesday, October 19, 2011
Every three years the IRS takes into account new perspectives and ideas on how tax codes can be changed to make processes run smoother and more effective. The last time this code changed was 2005.
Tuesday, October 18, 2011
Grassley questions soaring salaries for CEOs of nonprofits | The Des Moines Register | DesMoinesRegister.com
Monday, October 17, 2011
Baucus Announces Hearing to Seek Ways to Efficiently Stimulate Charitable Giving | Planned Giving Design Center
Thursday, October 13, 2011
Charitable Incorporated Organisation delayed until next year - Civil Society - Finance - News - providing news and in-depth coverage of charities, voluntary organisations and not-for-profits
And according to law firm Bates Wells and Braithwaite, the proposal to limit availability of CIOs to new charities means the CIO will not initially be available for unincorporated charities wishing to convert.
Wednesday, October 05, 2011
Giving Watchdog Disputes Bank's Charity Claims in Merger Bid - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Friday, September 30, 2011
In the letter released yesterday, The Alliance for Charitable Reform (ACR) explains the “potential damage to Americans seeking help from nonprofit services” that limiting the charitable contribution tax deduction.
Wednesday, September 28, 2011
“Unjustifiable compensation of charitable board directors creates inherent conflicts of interest,” Coakley told members of the Joint Committee on the Judiciary, as she called on them to support House Bill 3516.
According to Independent Sector, a national network for charities, foundations, and corporate giving programs, nonprofits would not be able to take advantage of:
Tuesday, September 27, 2011
Friday, September 23, 2011
Calif. Town Pays Claim to Nonprofit Axed Over Critical Comments - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
September 23, 2011, 10:26 am
The Southern California city of Escondido has paid a $20,000 settlement to a nonprofit group whose social-service contract was canceled after the organization publicly criticized a municipal policy, according to the North County Times.
Thursday, September 22, 2011
AFP Opposes Capping Itemized Deductions, Including Charitable, to Pay for President’s Jobs Bill - Press - AFP
(Sept. 20, 2011) AFP learned early last week that the President intended to pay for his jobs bill by capping itemized deductions, including charitable deductions for high income taxpayers. AFP is chairing a coalition of groups to oppose any caps that would negatively affect charities.
The Chronicle of Philanthropy summarized the situation in this article.
The Nonprofit Quarterly | @npquarterly | Dwindling Money for Nonprofits in FY2012 Budget Appropriations
Wednesday, September 21, 2011
Disaster relief battle looms on Capitol Hill as Reid promises showdown vote on larger aid bill - The Washington Post
Tuesday, September 20, 2011
White House Explains Smaller Nonprofit Tax Credits in Jobs Bill - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
However, when nonprofit experts examined the legislation’s fine print, they discovered that the dollar amounts available to tax-exempt organizations are about two-thirds of those available to other employers.
Monday, September 19, 2011
Panel of MPs, peers, academics, charity chiefs and umbrella bodies says party must make up its mind on public services
The Labour government did not have clear aims for voluntary sector policy beyond a general goal of increasing investment, according to a group set up to review the party’s policies.
The party’s civil society policy review group, a panel of Labour MPs, peers, academics, charity chief executives and umbrella bodies, has been set up to scrutinise the party’s record on the voluntary sector when it was in power and to propose policy suggestions that could form the basis for its next manifesto.
USAgNet - 09/16/2011
Bipartisan bills introduced in the House and Senate on Thursday would establish the legal structure for tax-exempt organizations focusing on agricultural research. The Senate version was introduced by Senate Agriculture Committee Chairwoman Debbie Stabenow (D-Mich.) and Committee Member John Thune (R-S.D.).
Thursday, September 15, 2011
Nonprofits Fight Proposal to Curb Charity Tax Breaks - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
September 15, 2011, 9:32 am
By Lisa Chiu
Nonprofits are gearing up to fight President Obama’s plan to pay for his jobs bill in part by limiting charitable deductions. Mr. Obama wants to limit the amount all wealthy people can write off for charitable gifts as well as housing, medical expenses, and other items.
White House Names New Head of Social-Innovation Unit - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
September 15, 2011, 6:50 am
By Suzanne Perry
Jonathan Greenblatt, who served as chief executive of the company that oversees Good magazine and helped create All for Good, an online volunteer database, has been named the new director of the White House Office of Social Innovation and Civic Participation.
Mr. Greenblatt replaces Sonal Shah, who stepped down in August after heading the office since it was created in 2009.
Wednesday, September 14, 2011
AG: New Charities Bill will go forward
By: Brent Fuller | firstname.lastname@example.org
13 September, 2011
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A proposal to better regulate charities operating in the Cayman Islands that was panned by nearly every charitable organisation in the country last year will still go forward at some stage, Attorney General Sam Bulgin has indicated.
The County Income Data are based on the addresses reported on individual income tax returns filed with the IRS. The data are presented by county (including state totals) and are available for Tax Years 1989 through 2008 and include:
Tuesday, September 13, 2011
Calif. College Fund-Raising Arms Face New Disclosure Rules - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Thursday, September 08, 2011
New legal requirements could help prevent a repeat of problems attributed to the Maine Green Energy Alliance, which won a $3 million federal grant but was terminated for questionable performance last winter after six months and $500,000 in spending.
Tuesday, September 06, 2011
Campaign Urges Obama to Include Nonprofits in Jobs Plan - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
The campaign encourages supporters to post messages on Twitter using the hashtag “#nonprofits.” The goal is to persuade the White House to make sure that nonprofit groups receive the same federal incentives as businesses for creating new jobs.
Commission produces more detailed Equality Act guidance - Civil Society - Governance - News - providing news and in-depth coverage of charities, voluntary organisations and not-for-profits
The guidance aims to assist charities to apply the exemptions in the new Act that allow them to provide benefits to certain members of the public and not others.
NCVO-led group to review the effects and burdens of Charities Act 2006 - Civil Society - Governance - News - providing news and in-depth coverage of charities, voluntary organisations and not-for-profits
Monday, August 29, 2011
Education Group Wrote Fla. Law to Protect Its Corporate Aid - State Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Step Up for Students, in Tampa, composed and submitted the bill to Republican state Rep. Mike Horner, who subsequently asked the organization to break down each provision in the measure on a “cheat sheet” so he “would not embarrass myself or you” in legislative debates, according to e-mails reviewed by the Jacksonville newspaper.
Saturday, August 27, 2011
Benjamin Lawsky, superintendent of the Department for Financial Services, said some state-funded nonprofit groups receive big benefits, like property and corporate tax exemptions, in exchange for the services they provide.
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Friday, August 19, 2011
N.J. Drops Proposal to Require Charities to Tell Donors They Can Earmark Money - State Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Wednesday, August 17, 2011
Monday, August 15, 2011
Calif. Gets Tougher on Granting Tax Exemptions to Nonprofits - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Friday, August 12, 2011
Wednesday, August 10, 2011
The IRS has released a new form that tax-exempt organizations will use to request certain determinations about their tax-exempt status. In addition to foundation status issues, organizations will use Form 8940, Request for Miscellaneous Determination, to obtain advance approval of certain activities and exemption from Form 990 filing requirements. Organizations applying for recognition of exemption and at the same time requesting advance approval of scholarship procedures or exception from filing Form 990 should include their request with their Form 1023, Application for Recognition of Exemption Under Section 501(c)(3), rather than file Form 8940."
Monday, August 08, 2011
Monday, July 25, 2011
Sen. Susan Paddack, D-Ada, addressed nonprofit leaders about Senate Bill 1070, which is designed to promote transparency and integrity in the nonprofit sector. The bill went into effect July 1.
BY CARRIE COPPERNOLL email@example.com Comment on this article 3
Published: July 20, 2011
A new plan to promote transparency among Oklahoma's charities took effect earlier this month, and leaders in the nonprofit and government sectors are working together to meet the new guidelines."
Thursday, July 21, 2011
The Nonprofit Quarterly | @npquarterly | Impacts of the Gang of Six's Budget Recommendations on Nonprofits
Why Are Nonprofits AWOL in Budget Fight? - Opinion - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Staying on the sidelines also gives the lie to lofty civil-society rhetoric about nonprofits’ role as the bedrock of the democratic process. Our democracy is in crisis. Surely the leaders of civil society have a duty to lead citizens in a conversation about fixing the problem."
Wednesday, July 20, 2011
Leader to Step Down From White House Social-Innovation Office - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Ms. Shah, who has led the office’s efforts to promote innovative nonprofits since it was created in 2009, will take a break before deciding what to do next, the White House press office said. Her last day will be August 1."
Tuesday, July 19, 2011
Nonprofits and private clubs that offer small games of chance -- such as punchboards, pull-tabs, raffles and daily and weekly drawings -- must donate all of the proceeds to charities.
How much they raise, however, is limited by a $5,000-per-week cap in prize money. When the prize money is gone, whether that happens on a Tuesday or a Friday, the games must stop until the next week."
Monday, July 18, 2011
According to the proposed rule under N.J.A.C. 13:48-11.2, in the June 6, 2011, New Jersey Register the NJDCA believes that “if particular programs are the inducement for a donor to make a contribution to the charity, the donor should be advised that he or she has the option to direct the charity to use his or her contribution to fund that program.”"
TheDay.com - Mystic Aquarium, Garde Arts Center, other nonprofits take significant hits | Southeastern Connecticut News, Sports, Weather and Video | The Day newspaper
Wednesday, July 13, 2011
The AG added, “We hope that board members at all charities will closely scrutinize these severance packages and work to put the protection of charitable assets above all other factors. These terms are highly costly, reduce the board’s ability to act independently, and in most cases do not advance a legitimate charitable purpose.”
The report said that reporting requirements for charitable organizations did not fully encompass all aspects of executive compensation. As a result, the attorney general’s office will now require all senior executive employment agreements to be disclosed as part of charitable annual reports filed with the AG’s office and an explanation for the protection afforded."
Tuesday, July 12, 2011
California Latino Caucus reveals dozens of donors to its foundation - Sacramento Politics - California Politics | Sacramento Bee
Monday, July 11, 2011
The list includes dozens of nonprofit organizations throughout the Magic Valley, many of them small entities that run the gamut from an organization tied to police officers to another that aids recovering drug and alcohol addicts. While the number is surprisingly high, a recent change to federal law likely played a big role in many cases."
Wednesday, July 06, 2011
Charities must be free to campaign in order to hold the government to account, Acevo chief executive Sir Stephen Bubb told a committee of MPs yesterday.
Bubb, speaking at the fifth evidence session of the Public Administration Select Committee inquiry into the big society, said charities had a strong tradition of 'working with government to change laws and also kicking government when it gets things wrong'."
Drovers CattleNetwork - Repeal of Ohio estate tax concerns transition planning professionals - Cattle News - Editorial, Grain & Cattle Markets, Current Stories
A lot of stuff has happened the past 10 days, and we're here to catch up on a few things."
Tuesday marked the end of a comment period on a proposed rule from the Office of Government Ethics that would lift a 15-year prohibition on federal workers acting as officers or directors in the nonprofit sector. Previously, unless granted a special waiver, government employees were barred from officially serving in any capacity involving fiduciary responsibilities that could conflict with their obligation to their agency."
Thursday, June 30, 2011
Wednesday, June 29, 2011
Charities Warned of 'a Tsunami' Over Tax Issues - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Partly because of budget pressures, both President Obama and Congress are conducting an “extensive look at the sector the likes of which I don’t think we’ve seen in 50 years,” Ms. Aviv said in an interview with The Chronicle. “And the biggest danger of all of this is that nobody’s paying attention.”"
Monday, June 27, 2011
House Proposal Would Simplify Foundation Excise-Tax Rate - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
June 24, 2011, 1:14 pm
By Lisa Chiu
House lawmakers have introduced a bill that would change the way private foundations pay taxes on their investment income by creating a flat tax rate.
The bill—which was introduced by Rep. Erik Paulsen, a Minnesota Republican, and Danny Davis, an Illinois Democrat—has the same language as proposed legislation that Sen. Charles Schumer, Democrat of New York, introduced in the Senate in March."
Friday, June 24, 2011
It's part of efforts to improve governance and raise public confidence in the charity sector.
Currently, there is no specific financial reporting framework for charities.
Some charities rely on standards which are widely used by commercial entities, such as the Financial Reporting Standards.
These may not always be suitable, according to some charities.
From next month, they can use a simpler system put in place by the Accounting Standards Council and the Office of the Commissioner of Charities."
Opinion: IRS Should Rethink Its Treatment of Charities - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
June 24, 2011, 9:36 am
The IRS’s recent action to strip 275,000 groups of their tax exemptions “is at odds with the idea that nonprofits are essentially private organizations whose value lies in their ability to contribute to public life without being controlled by government,” write two nonprofit experts in The Wall Street Journal."
Thursday, June 23, 2011
Fairfax tweaks tax code to preserve affordable housing groups’ tax exemption - Virginia Politics - The Washington Post
Tuesday, June 21, 2011
The Internal Revenue Service (IRS) is inviting public comment on issues and frequently asked questions regarding the new Form 990. Issues for comment include a consideration to eliminate a section asking to report activity codes, reporting compensation to management companies and leasing companies owned by an organization’s leadership, and thresholds for reporting compensation to key employees."
Monday, June 20, 2011
by Rachel Lane/Times-Georgian
3 days ago | 1145 views | 2 2 comments | 1 1 recommendations | email to a friend | print
As if juggling a budget wasn’t difficult enough, some local non-profit organizations have had to worry about their tax exempt status after the IRS released a list of no-longer tax exempt organizations last week."
Saturday, June 18, 2011
IRS 501(c)(3) Revocation and Your TechSoup Account - The TechSoup Blog - Welcome to the TechSoup Community - TechSoup
As a result of this development, TechSoup is reviewing the list of organizations whose 501(c)(3) status has been revoked, and is comparing it against our own database. As part of our agreement with our donor partners, only qualified 501(c)(3) organizations can request donations from TechSoup. If your 501(c)(3) status has been revoked, your organization's TechSoup status will be updated to 'disqualified' and pending donation requests will be cancelled. Your organization will be able to request product donations again if your 501(c)(3) status is reinstated by the IRS.
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Thursday, June 16, 2011
IRS Considers Changes in Disclosure Rules - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Thursday, June 09, 2011
Mass. Senate Passes Legislation to Limit Compensation for Nonprofit Board Members | United States | Epoch Times
WASHINGTON — The Internal Revenue Service today announced the selection of 10 new members to the Advisory Committee on Tax Exempt and Government Entities (ACT). The ACT consists of external stakeholders and representatives who deal with employee retirement plans, tax-exempt organizations, tax-exempt bonds and federal, state, local and Indian tribal governments.
“ACT members provide valuable feedback and insight on a wide variety of issues related to tax exempt and government entities,” IRS Commissioner Doug Shulman said."
But to be tax exempt, it said, the buildings and land must be occupied by the foundation itself or another charitable organization, and that use by the university doesn’t fall under the statute.
The properties in question include 25 Park Terrace, which, according to court documents, was occupied in part by the foundation for its offices and in part by the university’s alumni office; 180 Summer St., home of the university’s political science department; and 29 Park Terrace, used to host fundraising events."
IR-2011-63: IRS Identifies Organizations that Have Lost Tax-Exempt Status; Announces Special Steps to Help Revoked Organizations
275,000 Groups Lose Charity Status - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Many of the groups that lost their exemptions are charities, and donors to those organizations cannot claim a charitable deduction for gifts to the groups after the IRS makes the list official."
Most tax-exempt organizations are required to file an annual return or notice with the Internal Revenue Service. (See Annual Return Filing Exceptions for a list of organizations that are not required to file.) Section 6033(j) of the Internal Revenue Code automatically revokes the exemption of any organization that fails to satisfy its filing requirement for three consecutive years. The automatic revocation of exemption is effective as of the due date of the third required annual filing or notice."
Wednesday, June 08, 2011
The Internal Revenue Service (IRS) is inviting public comment on issues and frequently asked questions regarding Form 990. Issues for comment include a consideration to eliminate a section asking to report activity codes, reporting compensation to management companies and leasing companies owned by an organization's leadership, and thresholds for reporting compensation to key employees."
Tuesday, June 07, 2011
Editorial: Better way unfolds on nonprofits | The Leaf Chronicle – Clarksville, Tenn., and Fort Campbell | theleafchronicle.com
Thursday, June 02, 2011
This Announcement invites public comments on transitional issues and frequently asked questions involving the redesigned Form 990
This Announcement invites public comments on transitional issues and freqhtfuently
asked questions involving the redesigned Form 990.
Tuesday, May 31, 2011
Study Shows How Changes to the Tax Code Could Affect Giving - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
May 31, 2011, 9:19 am
By Suzanne Perry
A new Congressional Budget Office study is looking into how changes in the way donors calculate their tax deductions for charitable donations would affect giving—and the federal budget."
Tuesday, May 24, 2011
Attorney General Martha Coakley, and legislators Sen. Mark Montigny (D-New Bedford) and Rep. Martha Walz (D-Boston) are poised to make Massachusetts the nation’s first state to bar public charities from paying directors. The issue will be debated by the state Senate this week."
Monday, May 16, 2011
Austin High School Students Sponsor Book Drive To Benefit Community Center In New Orleans | FortBendNow.com
Oops…how do I know if it’s time to file?
The deadline for 990s is 5.5 months after the end of the organization’s fiscal year. If December 31 was the end of the year, then May 15 is 5.5 months later."
Thursday, May 12, 2011
More charities than expected will face highest level of accounting disclosure - Civil Society - Finance - News - providing news and in-depth coverage of charities, voluntary organisations and not-for-profits
More charities than expected will face highest level of accounting disclosure - Civil Society - Finance - News - providing news and in-depth coverage of charities, voluntary organisations and not-for-profits: "More charities than initially thought are likely to fall into the most onerous tier of the Accounting Standards Board's proposed framework for charity accounting, according to PricewaterhouseCoopers.
Charities with listed debt or which are holding other organisations’ money in a fiduciary capacity are considered to be publicly accountable and will therefore be required to use the tier 1 framework, which involves significantly more disclosure than the FRSME (Financial Reporting Standard for Mid-Sized Entities)."
Wednesday, May 11, 2011
Tuesday, May 10, 2011
Greenpeace appealed against a 2010 ruling by the Charities Commission which found its promotion of 'disarmament and peace' was political rather than educational and while it did not directly advocate illegal acts, Greenpeace members had acted illegally."
That prompted legislators to pass a law last week requiring nonprofits to report how they are spending flood donations to the Secretary of State.
State Rep. Gary Moore, D-Joelton, was the lead sponsor on the bill, which excludes religious organizations."
Monday, May 02, 2011
Four Winston-Salem nonprofit groups are calling for a law that would require donation containers in Forsyth County to be guarded by attendants, according to the Winston-Salem Journal."
Tuesday, April 26, 2011
Monday, April 25, 2011
A. Yes. The same definition of qualified employer applies to an organization described in Code section 501(c) that is exempt from tax under Code section 501(a). However, see Q/A-11 for special rules that apply in calculating the credit for a tax-exempt qualified employer. An employer that is an agency or instrumentality of the federal government, or of a state, local or Indian tribal government, is not a qualified employer unless it is an organization described in Code section 501(c) that is exempt from tax under Code section 501(a)."
By Samuel J. Fanburg
Some 63 percent of nonprofits reported paying various types of fee and taxes to local and state governments during 2010. Of these types of assessments, 17 percent reported paying field-specific taxes, 36 percent paid “other payments,” 9 percent paid PILOT (payments in lieu of taxes) and 42 percent of nonprofits paid user fees."
Tuesday, April 19, 2011
Nonprofits Call for Changes to 'Arcane' Lobbying Rules - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Nonprofit and legal experts, who discussed the issue at a closed-door meeting last week, criticized existing lobbying rules as “arcane” and “vague to the point of being dysfunctional,” says Diana Aviv, Independent Sector’s president."
Monday, April 18, 2011
Monday, April 11, 2011
Many states offer “Checkoffs,” a list of nonprofit organizations that taxpayers can contribute to directly from their tax refunds. By providing a simple, straightforward way to donate, this small step is going a long way to help others."
IRS Warns of Tax Abuses Involving Nonprofits - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
April 8, 2011, 7:51 pm
By Lisa Chiu
As tax season ticks down, the IRS is warning Americans not to abuse deductions for charitable giving.
The IRS, in its annual list of the year’s “dirty dozen” tax scams, says that attempts to abuse charitable organizations and deductions are among the most common efforts to skirt the tax code."
Wednesday, March 30, 2011
Tuesday, March 29, 2011
(March 29, 2011) Tomorrow, March 30, 2011, the Senate Finance Committee will hold a hearing titled 'How Do Complexity, Uncertainty and Other Factors Impact Responses to Tax Incentives' to determine whether tax incentives actually work, or whether they reward behavior that would have occurred anyway."
Tuesday, March 22, 2011
New York AG Issues Endowment Guidance
New York Attorney General Eric T. Schneiderman released a guide for charities on new legislation that changes the rules on how they manage, invest and spend their endowments and other funds. The booklet, A Practical Guide to the New York Prudent Management of Institutional Funds Act, is available on the Attorney General’s Charities Bureau website, and provides guidance on frequently asked questions about the new law."
Wednesday, March 16, 2011
Tuesday, March 15, 2011
Demystifying the 2010 Tax Act: What You Need To Know - Lewis Saret - The Wealth Strategies Report - Forbes
Wednesday, March 09, 2011
Congressman Urges Foundation Officials to Push for Tax Changes - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
March 9, 2011, 11:46 am
By Caroline Preston
With Washington scurrying to try to avoid a federal government shutdown, now might not be the easiest time for foundation officials to bend the ear of Congress members. But about 250 foundation employees are scheduled to be in town this week, as part of the Council on Foundation’s annual “Foundations on the Hill” day, to try to make their case to federal legislators about the value of philanthropy."
Friday, March 04, 2011
Nonprofits Oppose House Spending Reductions - Government - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
The legislation, which would cover spending until the end of September, would slash a wide range of social programs and completely kill AmeriCorps, other national-service programs, and the Corporation for Public Broadcasting."
Israel’s Government Set to Encourage Giving | eJewish Philanthropy: Your Jewish Philanthropy Resource
The joint Government, business sector and third sector round table has submitted to Prime Minister Benjamin Netanyahu a plan to promote both individual and corporate philanthropy in Israel. The goal – to increase the percentage of contributions."
Monday, February 28, 2011
EO Update is a periodic newsletter with information for tax-exempt organizations and tax practitioners - attorneys, accountants, and others - who represent them, from Exempt Organizations (Tax-Exempt and Government Entities) at the IRS."
Thursday, February 17, 2011
Proposed again this year by Iowa Attorney General Tom Miller, Senate Study Bill 1029 would allow the state to establish a registry of organizations."
Monday, February 14, 2011
Friday, February 11, 2011
IRS Rules on Deductibility of Payments That Produce Transferable State Tax Credits | Planned Giving Design Center
Wednesday, February 02, 2011
Monday, January 24, 2011
Attorney Richard Harris, who heads the trust and estate department at the Akron-based law firm Brouse McDowell, said the elimination of the tax may affect whether people donate to charity upon their death.
Today, many people make charitable contributions because of the dollar-for-dollar tax deduction provided. But if that incentive is gone, he asked, will people reduce the amount they give to charity?"
Friday, January 14, 2011
The current version of the proposed bill, which has not yet been introduced, would create voter-approved taxing districts — called Cultural Access Funds — that would support access to arts and cultural organizations."
Thursday, January 13, 2011
New Illinois Tax Increases Offer Only Modest Relief for Unpaid Charities - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
That should make it somewhat easier for the state to pay its bills, including to charities that provide human services. Illinois has the worst record in the country when it comes to late payments for government contracts, according to a recent nationwide survey of nonprofits."
Monday, January 10, 2011
Sen. Charles Grassley (R-Iowa), ranking member of the Senate Finance Committee, requested the help of the Winchester, Va.-based Evangelical Council for Financial Accountability (ECFA), which today announced the Commission on Accountability and Police for Religious Organizations. The senator’s office this week released a review of activities and practices of six media-based Christian ministries and reports concerning other churches and religious organizations. According to Grassley, he wrote to the ministries in November 2007 after constituent inquiries to him because of his tax-exempt oversight responsibilities."
Friday, January 07, 2011
Thursday, January 06, 2011
Tuesday, January 04, 2011
Impact of December, 2010 Tax Law Changes on Charitable Giving | Planned Giving Design Center: "On December 17 the president signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This much-anticipated legislation features continuation of tax cuts that were scheduled to expire, extension of unemployment benefits, and other measures designed to stimulate the economy."