starbulletin.com | Editorial | /2007/11/25/

starbulletin.com | Editorial | /2007/11/25/: "As if Hawaii managers of nonprofits don't have enough on their plates. On top of running their kuleana and dealing with everything from diminished state and federal funding to sorting out personnel squabbles, they now must also comply with Sarbanes-Oxley (or SOX).

The Sarbanes-Oxley Act was passed on July 30, 2002, in response to the corporate and accounting scandals of Enron, Tyco and others. The purpose of the law is to restore public trust in America's corporate sector. The law requires that publicly traded companies adhere to stricter governance standards that both broaden board members' roles in overseeing financial transactions and auditing procedures."

NWAnews.com ::Nonprofits in budget hot seat

NWAnews.com :: Northwest Arkansas' News Source: "To fully fund all of the nonprofits, who generally have other sources of income, and still have to make cuts for emergency personnel, like fire and police, cuts in other divisions, we needed to spread the cuts evenly across the board and that had to involve all of our outside agencies as well,' said Mayor Dan Coody last week. 'I don't like it. But here we are,' he said. The city administration's proposed budget for 2008 is to divide about $ 854, 000 among 10 nonprofit agencies."

Senate Inquiry Targets Televangelists

Senate Inquiry Targets Televangelists: "Acting on tips about preachers who ride in Rolls Royces and have purportedly paid $30,000 for a conference table, the top Republican on the Senate Finance Committee said Tuesday he's investigating the finances of six well-known TV ministers. Sen. Chuck Grassley of Iowa said those under scrutiny include faith healer Benny Hinn, Georgia megachurch pastor Creflo Dollar and one of the nation's best known female preachers, Joyce Meyer."

IRS Reminds Charities and Churches of Political Activity Ban

IRS Reminds Charities and Churches of Political Activity Ban: "RS Reminds Charities and Churches of Political Activity Ban IR-2007-190, Nov. 19, 2007 WASHINGTON — The Internal Revenue Service today reminded section 501(c)(3) organizations, including charities and churches that federal law prohibits them from becoming directly or indirectly involved in campaigns of political candidates. The prohibition against political campaign activity has been in effect for more than half a century and bars certain tax-exempt organizations from engaging on behalf of or in opposition to political candidates. However, these organizations can engage in advocating for or against issues and, to a limited extent, ballot initiatives or other legislative activities"

Tax ruling boosts churches, charities - National - theage.com.au

Tax ruling boosts churches, charities - National - theage.com.au: "IN A decision anxiously awaited by thousands of churches and charities around Australia, the full bench of the Federal Court has ruled that businesses they run to fund their charities need not pay tax."

LEGISLATUREIt's an emergency: Ban energy drinks

LEGISLATURE
It's an emergency: Ban energy drinks:
"Sen. Peter Mills, R-Cornville, lobbied for his bill to allow charitable and fraternal organizations to get a low-cost license to host cribbage games. Some local groups have stopped hosting the games in the wake of a state crackdown on gaming. 'This is not an emergency, but it's a crisis,' Mills said. Before he could say more, leaders voted 10-0 to allow the bill to be considered when the Legislature reconvenes. 'The cribbage players of the world appreciate you,' Senate President Beth Edmonds, D-Freeport said."

Buffett, Sukup Differ On Estate Tax - Money News Story - KETV Omaha

Buffett, Sukup Differ On Estate Tax - Money News Story - KETV Omaha: "Omahan and Berkshire Hathaway head Warren Buffett urged the Senate Finance Committee not to eliminate the estate tax. Buffett said that the money from the tax should be used to help close the gap between the super-rich and the middle class."

DesMoinesRegister.com-Yes, even ministers need to follow tax law

DesMoinesRegister.com: "So six 'media-based ministries' (a euphemism for televangelists) were likely none too happy when they recently received a letter from him that begins: 'The Finance Committee has a long tradition of reviewing tax-exempt organizations.' Now, it's their turn. The letter asks for everything from details on executive compensation to employment contracts to credit-card statements to a list of the vehicles purchased or leased by televangelists."

Cumberland Times-News - Gaming bill passage not likely

Cumberland Times-News - Gaming bill passage not likely: "The state also would receive the tax revenue generated through gaming. In Allegany and Washington counties, that revenue is currently allocated to education, fire and rescue squads and charitable organizations."

San Jose Mercury News - Elected officials raise millions for charities, other activities

San Jose Mercury News - Elected officials raise millions for charities, other activities: "SACRAMENTO—California's elected state officials have raised more than $11 million in unlimited contributions over the last two years for charities, community groups, inauguration ceremonies and other political activities, according to figures released Tuesday by the state's campaign watchdog. The money frequently has come from corporations, Indian tribes, labor unions and other organizations that lobby at the Capitol. Critics say that raises the possibility of conflicts of interest."

Charity registrations recommended for Hawaii - The Honolulu Advertiser

Charity registrations recommended for Hawaii - The Honolulu Advertiser: "Print this Printable version E-mail this E-mail this story Posted on: Friday, November 2, 2007 Charity registrations recommended for Hawaii By Rob Perez Advertiser Staff Writer
A national expert on accrediting nonprofits says requiring Hawai'i charities to register with the state would be beneficial, giving people another way to evaluate organizations that get financial support from the public. '
Registration is important because it is one more vehicle for nonprofits to come forward in a very transparent way,' said Richard Klarberg, president and chief executive of the New York-based Council on Accreditation. He spoke after a speech he gave at a meeting of the Hawai'i Alliance of Nonprofit Organizations."