SKNVibes | Charitable organisations to discuss mandatory legislation

SKNVibes | Charitable organisations to discuss mandatory legislation: OADTOWN Tortola BVI, December 15th, 2011 - The Deputy Governor’s Office is inviting members of Non-Profit Organisations (NPOs) and Non-Financial Gain Organisations (NGOs) in the Territory to attend a stakeholders meeting to discuss a mandatory legislation that will affect all charitable organisations.

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.

Standard Automobile Mileage Rates for 2012 | Planned Giving Design Center

Standard Automobile Mileage Rates for 2012 | Planned Giving Design Center: The IRS has issued guidance for standard mileage rates for taxpayers to use in computing the deductible costs of operating an automobile for business, charitable, medical, or moving expense purposes for 2012. The rate for rendering gratuitous services to a charitable organization is 14 cents per mile.

IR-2011-120: Filing Deadline Extended to March 30 for Some Tax-Exempt Organizations

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

IRS offers advice for holiday charitable giving | digitalBURG.com

IRS offers advice for holiday charitable giving | digitalBURG.com: ST. LOUIS — Any discussion on charitable giving during the holidays has to start with a warning. Watch out for scams!

“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.

New Gift Aid resource launches | Philanthropy UK

New Gift Aid resource launches | Philanthropy UK: he Chartered Institute of Taxation (CIOT) has launched a new Gift Aid resources website. The aim is to provide a full summary of Gift Aid and related issues for use by charities and tax advisors to philanthropists.

HM Revenue & Customs (HMRC) pays around �1bn a year to charities and other qualifying bodies through Gift Aid.

Senator Criticizes Treasury Department Report on Giving - News - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Senator Criticizes Treasury Department Report on Giving - News - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: A leading Republican senator is angry about a new Treasury Department report that examines how much two types of organizations distribute to charity each year.

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 State News on the Net!

New York State News on the Net!: Program to link needy nonprofits with volunteer legal counsel

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.

State Senator Wants Large Non-Profits to Pay Real Estate Taxes | Essential Public Radio

State Senator Wants Large Non-Profits to Pay Real Estate Taxes | Essential Public Radio: Following a hearing on the ongoing dispute between the University of Pittsburgh Medical Center (UPMC) and Highmark, State Senator Wayne Fontana (D-Pittsburgh) said that legislative action needs to be taken to rein in non-profit organizations that, he said, are clearly driven by profit.

UPMIFA and Real Life: A Case Example | Planned Giving Design Center

UPMIFA and Real Life: A Case Example | Planned Giving Design Center: The Uniform Prudent Management of Institutional Funds Act (UPMIFA), now enacted in all but two states, has created a new landscape for the administration of charitable endowments. In this article North Carolina CPA Dennis Walsh discusses how planned giving professionals and those advising them should be familiar with UPMIFA provisions and consider its implications when designing new gift agreements.

N.Y. Attorney General Examining Cause-Related Marketing - TheNonProfitTimes

N.Y. Attorney General Examining Cause-Related Marketing - TheNonProfitTimes: The New York Attorney General recently crossed into what some consider to be the hallowed ground of charities by launching an investigation into cause-related marketing of “pink ribbon” charities. In its own recognition of National Breast Cancer Awareness Month, the New York Attorney General’s Office (the NYAG) is examining charities and commercial partners that are involved in a cause-related marketing campaign representing that a portion of the sales of a product or service will support breast cancer research or screening.

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.

Home | National Council of Nonprofits

Home | National Council of Nonprofits: The co-chairs of the Joint Select Committee on Deficit Reduction announced in a joint statement on November 21 that the Supercommittee of Congress was unable to reach agreement on a package of spending cuts, tax increases, and entitlement reforms to generate $1.2 trillion in deficit reduction, as mandated by the Budget Control Act passed last August. This means that the immediate threat to the charitable giving incentive will fade with the Supercommittee – Congress will not vote by December 23 on an un-amendable package of tax reforms that radically changes the way the work of

Deductibility rate for charitable donations must be preserved | The News Journal | delawareonline.com

Deductibility rate for charitable donations must be preserved | The News Journal | delawareonline.com: The United States has long been defined in part by the charitable nature of its people. And from its inception in 1913, the federal income tax code has allowed taxpayers to deduct charitable gifts. In effect, government partners with charitably minded Americans to advance the general welfare.

White House Hosts Meeting on Nonprofit Leadership - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

White House Hosts Meeting on Nonprofit Leadership - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: White House Hosts Meeting on Nonprofit Leadership

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.

Charitable Deduction Not Discussed at Deficit Talks - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Charitable Deduction Not Discussed at Deficit Talks - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Republican members of the congressional deficit committee are discussing plans that would limit some tax breaks to help close the federal deficit, The New York Times reports. But a top Congressional aide says lawmakers have not been talking about placing any limits on charitable deductions.

The committee is working to trim more than $1.2-trillion from the federal deficit over 10 years.

Accounting Board to Research Nonprofit Financial Standards - News - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Accounting Board to Research Nonprofit Financial Standards - News - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: he group that establishes standards for financial accounting and reporting has approved two new projects that seek to streamline the way nonprofits complete their annual financial statements.

The Nonprofit Quarterly | @npquarterly | Can You Hear Me Now? Nonprofit Voices at the Supercommittee

The Nonprofit Quarterly | @npquarterly | Can You Hear Me Now? Nonprofit Voices at the Supercommittee: It could be all for naught, but the latent power of the Congressional supercommittee, charged with slicing a trillion or more off the national deficit, is kind of enormous if certain factors play out. As we have noted before, we hope that the nonprofit sector is making a coherent and noticeable case to the supercommittee amid the hundreds of thousands of dissonant recommendations that have flooded in. And even if the sector does have a coherent, resonant message, will it be heard given the cacophony of monied interests laying siege to supercommittee members?

Grassley Calls on Treasury to Close Supporting Org Pay-Out "Loophole" | Planned Giving Design Center

Grassley Calls on Treasury to Close Supporting Org Pay-Out "Loophole" | Planned Giving Design Center: n a letter to Treasury Secretary Timothy Geithner and IRS Commissioner Douglas Shulman, Senate Finance Committee member Charles Grassley, R-Iowa, has requested that Treasury complete its study on what he believes to be an exploitive tax loophole being perpetuated via the current pay-out rules for Type III supporting organizations.

Australia To Redefine Charity In Law: Australia To Redefine Charity In Law
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.

N.C. Center advocates for nonprofits so they can achieve their missions - Doing Better at Doing Good - NewsObserver.com

N.C. Center advocates for nonprofits so they can achieve their missions - Doing Better at Doing Good - NewsObserver.com

Ottawa looks at rewriting rules on charitable giving - The Globe and Mail

Ottawa looks at rewriting rules on charitable giving - The Globe and Mail: The government’s lead minister for the changes said financing will come with more strings attached in an effort to ensure that organizations deliver promised social gains.

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

Editorial

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."

The Nonprofit Quarterly | @npquarterly | Nonprofits, Tell Congress: “Help, or at Least Do No Harm”

The Nonprofit Quarterly | @npquarterly | Nonprofits, Tell Congress: “Help, or at Least Do No Harm”: Editor's Note: Last week NPQ published a piece on the charitable tax deduction entitled, "The Nonprofit Sector's Embarrassing Defense of A Maximal Charitable Tax Deduction" written by Rick Cohen. We expected push back on the piece because the position we took is contrary to that taken by a lot of nonprofit leadership groups. So when we received a request from Tim Delaney of the National Council of Nonprofits to be given equal time, we were glad to provide the venue. Read both and let us know what you think!

Grossman pushes for cooperation on tax deals with Erie nonprofits | GoErie.com/Erie Times-News

Grossman pushes for cooperation on tax deals with Erie nonprofits | GoErie.com/Erie Times-News: Over the past several months, some of the biggest nonprofits in the city of Erie have agreed to pay large amounts of money to help defray the cost of public services.

But the agreements -- involving the Lake Erie College of Osteopathic Medicine, Mercyhurst College and UPMC Hamot -- are all different.

Hurd outlines ways for funders to collaborate with government | Philanthropy UK

Hurd outlines ways for funders to collaborate with government | Philanthropy UK: Minister for Civil Society Nick Hurd wrapped up the Association of Charitable Foundations’ (ACF) annual conference on Tuesday Oct 18th by outlining three ways government and private funders might collaborate in today’s "challenging environment".

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.

Our View: Nonprofits won't take a back seat in job creation | The Portland Press Herald / Maine Sunday Telegram

Our View: Nonprofits won't take a back seat in job creation | The Portland Press Herald / Maine Sunday Telegram: The Maine Association of Nonprofits is feeling steamed after being informed by the governor's office that it's entitled only to alternate seating at Gov. Paul LePage's upcoming job creation summits.

Mormon apostle to Senate: Keep charitable deductions | The Salt Lake Tribune

Mormon apostle to Senate: Keep charitable deductions | The Salt Lake Tribune: Washington • One of the LDS Church’s leading voices argues that any reform of the tax code should not reduce or remove the deduction for charitable giving, because doing so would hurt churches, charities and the nation as a whole.

Car Donations In IRS Spotlight--Again - TheNonProfitTimes

Car Donations In IRS Spotlight--Again - TheNonProfitTimes: he Internal Revenue Service (IRS) is calling for public comment on a scheduled reevaluation on the codes that stipulate rules for charitable contributions of certain motor vehicles, boats and airplanes.

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.

massnonprofit.org ::

massnonprofit.org ::: October 18, 2011 — Six leading Massachusetts nonprofits, representing hundreds more, are spearheading a coordinated lobbying effort aimed at convincing elected officials in Washington to oppose the cap on tax deductions for charitable giving by wealthy donors that President Obama has proposed.

Take Action Today to Oppose Any Tax Reforms That Would Harm Charitable Giving! - Press - AFP

Take Action Today to Oppose Any Tax Reforms That Would Harm Charitable Giving! - Press - AFP

Grassley questions soaring salaries for CEOs of nonprofits | The Des Moines Register | DesMoinesRegister.com

Grassley questions soaring salaries for CEOs of nonprofits | The Des Moines Register | DesMoinesRegister.com: U.S. Sen. Chuck Grassley said his skepticism about the nonprofit hospital industry is heightened by the large salaries some executives make running purported charities.

Baucus Announces Hearing to Seek Ways to Efficiently Stimulate Charitable Giving | Planned Giving Design Center

Baucus Announces Hearing to Seek Ways to Efficiently Stimulate Charitable Giving | Planned Giving Design Center: Senate Finance Committee Chairman Max Baucus (D-Mont.) will convene a hearing on Tuesday to consider how tax reform can efficiently stimulate charitable giving. The hearing, titled "Tax Reform Options: Incentives for Charitable Giving," will take place at 10:00 a.m. on Tuesday, October 18, in Room 215 of the Dirksen Senate Office Building. This hearing is the latest in a set of hearings being held this fall to examine various segments of the economy and tax code.

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

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: The implementation of the new legal form Charitable Incorporated Organisation is not now expected until the first quarter of next year.

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.

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

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: A charity watchdog group is scheduled to appear before a federal agency today to challenge giving claims made by Capital One Financial Corporation, which is touting its charity in bidding to acquire the online banking leader ING, the Associated Press says.

Charitable Deduction Central | Alliance for Charitable Reform

Charitable Deduction Central | Alliance for Charitable Reform: Charitable Deduction Central

19 Major Nonprofits Lobby To Keep Charitable Deductions - TheNonProfitTimes

19 Major Nonprofits Lobby To Keep Charitable Deductions - TheNonProfitTimes: Leaders of 19 nonprofits sent a letter to Sen. Max Baucus (D-Mont.), chairman of the Senate Finance Committee and the 12 members of the Joint Select Committee on Deficit Reduction (often referred to as the “Super Committee”), asking them to protect the charitable deduction.

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.

AG: No pay for charity directors - BostonHerald.com

AG: No pay for charity directors - BostonHerald.com: The state’s top cop for charities, Attorney General Martha Coakley, yesterday asked legislators to help her quash out-of-control executive compensation by prohibiting nonprofits from paying their directors.

“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.

massnonprofit.org ::

massnonprofit.org ::: September 22, 2011 — While nonprofits would be able to reduce the payroll taxes they pay if President Obama’s American Jobs Act becomes law, certain benefits available to for-profits under the proposed bill would not be available to nonprofits, raising concerns among some in the sector.

According to Independent Sector, a national network for charities, foundations, and corporate giving programs, nonprofits would not be able to take advantage of:

Can Nonprofits Engage in Political Activity?

Can Nonprofits Engage in Political Activity?: A 501(c)(3) and a 501(c)(4) are very similar but are ruled by different standards when it comes to political activity such as lobbying.

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

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: Calif. Town Pays Claim to Nonprofit Axed Over Critical Comments

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.

AFP Opposes Capping Itemized Deductions, Including Charitable, to Pay for President’s Jobs Bill - Press - AFP

AFP Opposes Capping Itemized Deductions, Including Charitable, to Pay for President’s Jobs Bill - Press - AFP: AFP Opposes Capping Itemized Deductions, Including Charitable, to Pay for President’s Jobs Bill

(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.

Arts groups worry about Obama’s plan to cut tax breaks for wealthy - The Washington Post

Arts groups worry about Obama’s plan to cut tax breaks for wealthy - The Washington Post: President Obama’s plan to fund his $447 billion jobs-stimulus bill by limiting tax breaks for wealthier people is getting a wary reception from arts organizations, which fear that the proposal could cut into already diminishing donations to museums, symphonies, ballets and other groups.

The Nonprofit Quarterly | @npquarterly | Dwindling Money for Nonprofits in FY2012 Budget Appropriations

The Nonprofit Quarterly | @npquarterly | Dwindling Money for Nonprofits in FY2012 Budget Appropriations: Nonprofit leaders cannot be faulted for wondering what exactly to do. In the spring, the President’s FY2012 budget proposal lasted only a few milliseconds on Capitol Hill before being voted down in the House, after which the House passed the budget introduced by Paul Ryan (R-WI). Of course, Ryan’s budget shows little signs of life because it voucherized Medicare, which polled terribly and led to a Democratic pickup in a special election in Jack Kemp’s old district near Buffalo, New York.

Disaster relief battle looms on Capitol Hill as Reid promises showdown vote on larger aid bill - The Washington Post

Disaster relief battle looms on Capitol Hill as Reid promises showdown vote on larger aid bill - The Washington Post: The two sides are divided over how much disaster aid to provide immediately and whether a portion of it should “paid for” with cuts to an Energy Department program that subsidizes low interest loans to car companies to build more fuel efficient vehicles.

massnonprofit.org ::

massnonprofit.org ::: September 15, 2011 — An attempt to make one of three proposed casinos in Massachusetts a nonprofit entity, with earnings to be distributed to nonprofits statewide, failed to gain traction as the House yesterday voted 123-32 to create three casino and one slot machine resorts.

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

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: The White House says that President Obama’s jobs bill would allow nonprofits to get several tax credits designed to encourage employers to hire veterans and the long-term unemployed.

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.

Labour government lacked clear aims for the sector, says party's policy review group - Third Sector

Labour government lacked clear aims for the sector, says party's policy review group - Third Sector: Labour government lacked clear aims for the sector, says party's policy review group

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.

Wisconsin Ag Connection - National/World News - Bill Would Establish Charitable Ag Research Groups

Wisconsin Ag Connection - National/World News - Bill Would Establish Charitable Ag Research Groups: Bill Would Establish Charitable Ag Research Groups
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.).

Nonprofits Fight Proposal to Curb Charity Tax Breaks - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Nonprofits Fight Proposal to Curb Charity Tax Breaks - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Nonprofits Fight Proposal to Curb Charity Tax Breaks

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.

Americans for Community Development, the professional organization for L3Cs

Americans for Community Development, the professional organization for L3Cs: Legislation authorizing L3Cs is enacted as an amendment to the general limited liability company (LLC) act, rather than as a separate act. This allows L3Cs to take advantage of the flexibility of the LLC format and the existing body of law regarding their governance. Below are links to the LLC laws for the jurisdictions in which the L3C legislation has been enacted:

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

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: White House Names New Head of Social-Innovation Unit

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.

cayCompass.com :: AG: New Charities Bill will go forward

cayCompass.com :: AG: New Charities Bill will go forward:


AG: New Charities Bill will go forward
By: Brent Fuller | brent@cfp.ky
13 September, 2011
> Be the first person to share your comment

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.

SOI Tax Stats - County Income Data

SOI Tax Stats - County Income Data: SOI Tax Stats - County Income Data




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:

IRS Updates Rules for Donors and Grantmakers | Planned Giving Design Center

IRS Updates Rules for Donors and Grantmakers | Planned Giving Design Center: Recently updated Revenue Procedures address the ability of donors to rely on the listing of an organization in Publication 78, Cumulative List of Organizations for purposes of deducting contributions and for making grants from private foundations and donor advised funds. In this article, attorney David Wheeler Newman of Mitchell, Silverberg & Knupp LLP reviews these new rules and summarizes the steps donors and grantmakers should take, along with suggestions for memorializing this important due diligence.

Obama Targeting Charitable Deduction to Fund Jobs Bill | Planned Giving Design Center

Obama Targeting Charitable Deduction to Fund Jobs Bill | Planned Giving Design Center: The White House has released details of President Obama's $447 billion jobs bill. The plan proposes to finance the measure by reducing the tax benefit wealthier taxpayers receive from their itemized deductions, including the charitable deduction, to 28 percent. Thus, a taxpayer in the 35 percent top marginal bracket who gives $100,000 to charity will receive $7,000 less in tax benefit than they receive today. Similar proposals have failed in the past and charity officials are now arguing the plan would be counterproductive because reducing the tax benefit of the charitable deduction will reduce contributions to and jobs within the nonprofit sector at the same time the government is seeking to increase employment.

Boston Mayor Suggests PILOT Credit to Spur Nonprofit Hiring::

massnonprofit.org ::: September 12, 2011 — Boston-based nonprofits, such as hospitals, universities, and other nonprofits, that hire jobless city residents would get a credit of up to $1,500 off the amount they are asked to pay to the city in lieu of property taxes under a plan proposed by Mayor Thomas M. Menino.

Calif. College Fund-Raising Arms Face New Disclosure Rules - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Calif. College Fund-Raising Arms Face New Disclosure Rules - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: California Gov. Jerry Brown signed legislation last week to subject state colleges’ fund-raising foundations to public-records laws, says the Associated Press.

Senator seeks new tax from nonprofits

Senator seeks new tax from nonprofits: local lawmaker intends to introduce legislation that would require the University of Pittsburgh Medical Center and insurance provider Highmark, as well as major universities and other large nonprofit entities, to pay real estate taxes on all of their property holdings.

Panel calls for stricter oversight of grants | The Portland Press Herald / Maine Sunday Telegram

Panel calls for stricter oversight of grants | The Portland Press Herald / Maine Sunday Telegram: AUGUSTA - State agencies should confirm that recipients of public grant money have adequate financial capacity and controls, the Legislature's Government Oversight Committee has concluded.

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.

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

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: Independent Sector, a coalition of nonprofits and foundations, has started a petition campaign to persuade the president to include measures that would increase nonprofit employment as part of his proposal to boost the economy.

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

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 Charity Commission has published new guidance to help charities stay within the law of the Equality Act after charity lawyers complained that its original version was not comprehensive enough.

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

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: NCVO has set up a new group to lead an independent review of charity law, which will shadow the work of the government’s own review of the Charities Act 2006 due to start in November.

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

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: A new Florida law expanding corporate tax breaks for contributions to a scholarship program was drafted by the nonprofit group that offers the student aid, says The Florida Times-Union.

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.

Don't pick pockets of nonprofits | HamptonRoads.com | PilotOnline.com

Don't pick pockets of nonprofits | HamptonRoads.com | PilotOnline.com: The Obici Healthcare Foundation's request for a property tax exemption has given Suffolk officials a reason to reconsider the city's policy toward nonprofits.

SOI Tax Stats - SOI Bulletin: Summer 2011

SOI Tax Stats - SOI Bulletin: Summer 2011: SOI Tax Stats - SOI Bulletin: Summer 2011

NYS Requests Financial Records from Nonprofits - WNYC

NYS Requests Financial Records from Nonprofits - WNYC: financial records of state-funded nonprofit organizations. A newly-created task force has asked non-profits to provide detailed information, including salaries of top executives earning over $100,000, annual revenue and how much money they pay out to grant recipients.

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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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

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: New Jersey regulators have decided not to pursue a proposal to require charities to tell donors they can earmark their contributions for specific programs, an idea that had drawn strong criticism from nonprofit leaders.

IRS Finally Issues Guidance on 2010 Estate Tax

IRS Finally Issues Guidance on 2010 Estate Tax: "Estates of decedents who died in 2010 finally have guidance from the IRS on how to opt out of estate tax treatment and allocate carryover basis to estate property. The guidance is long overdue, and leaves little time for estates to make decisions that could have a massive tax impact."

Calif. Gets Tougher on Granting Tax Exemptions to Nonprofits - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Calif. Gets Tougher on Granting Tax Exemptions to Nonprofits - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "Tax officials in California are increasingly denying exemptions to nonprofit groups they contend do not do enough to benefit state residents, according to The New York Times."

AICPA Comments on Form 990 | Planned Giving Design Center

AICPA Comments on Form 990 | Planned Giving Design Center: "In response to Announcement 2011-36 The American Institute of Certified Public Accountants (AICPA) has commented on transitional issues and frequently asked questions involving the redesigned Form 990, Return of Organization Exempt from Income Tax. Of particular interest to charitable gift planners is AICPA's comment regarding the IRS' concern for protecting the identity of donors to split interest trusts by allowing organizations to exclude the names and addresses of contributors listed on Schedule B from the public inspection copy of the Form 990. The AICPA stated it 'believes that requiring disclosure of the name, address and EIN of certain trusts, including charitable remainder trusts, in Schedule R, Part IV would violate this privacy concept.'"

EO Update August 8, 2011

EO Update August 8, 2011: "1. New Form for Miscellaneous Determination Requests

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."

The Debt Deal and Struggling Nonprofits: A Real Satan Sandwich? | onPhilanthropy

The Debt Deal and Struggling Nonprofits: A Real Satan Sandwich? | onPhilanthropy: "While the much-criticized “deal” to forestall the United States’ defaulting on its bonded debt obligations did avoid a take-down of the charitable deduction in the tax code, nonprofits and those who support them can hardly take comfort from the Tea Party’s grand bluff of the President and his Democratic allies in Washington. That’s because after three years of continued economic uncertainty and the inevitable cutbacks to nonprofit programs at the state and local levels that often reflect fewer Federal dollars over the long run, the Path ahead still looks rocky indeed."

Oklahoma officials, charities work to meet new regulations | NewsOK.com

Oklahoma officials, charities work to meet new regulations | NewsOK.com: "Oklahoma officials, charities work to meet new regulations
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 ccoppernoll@opubco.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."

The Nonprofit Quarterly | @npquarterly | Impacts of the Gang of Six's Budget Recommendations on Nonprofits

The Nonprofit Quarterly | @npquarterly | Impacts of the Gang of Six's Budget Recommendations on Nonprofits: "But what would the Gang's plan mean for nonprofits? Aiming at cutting the debt by $3.7 trillion over the next decade, the Gang proposes two stages of spending cuts. According to Politico, the first stage would be $500 billion in spending cuts from a variety of sources followed by a more comprehensive second stage combining additional 'fast-track' spending and tax changes. Changes in Social Security would apparently constitute something like a third legislative track of sorts. Politico says that the Gang 'punts' the specifics on other future spending cuts within targeted amounts such as $70 billion out of Health, Education, Labor and Pensions, $65 billion out of Homeland Security and Government Affairs, $11 billion out of Agriculture, and $11 billion out of Commerce."

Australia To Modify Charity Tax Law

Australia To Modify Charity Tax Law

Why Are Nonprofits AWOL in Budget Fight? - Opinion - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Why Are Nonprofits AWOL in Budget Fight? - Opinion - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "Nonprofits must recognize that they remain on the sidelines at their peril. If federal deficits continue to spiral out of control, nonprofits face a future of trying to do more and more with less and less, as a weakening economy exacerbates social ills and reduces both government aid and private giving.

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."

House Bill Would Provide Permanent Extension for IRA Charitable Rollover | PNNOnline.org

House Bill Would Provide Permanent Extension for IRA Charitable Rollover | PNNOnline.org: "A new bill introduced in the U.S. House would permanently extend the Individual Retirement Account (IRA) charitable rollover and expand it to allow increased charitable giving, most notably through donor advised funds. It is a preferred approach for many donors, allowing them to create a fund through an organization, such as a community foundation, and to recommend how those funds should be used."

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

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: "Sonal Shah, head of the White House’s Office of Social Innovation and Civic Participation, is stepping down from her post next month.

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."

EDITORIAL: Small games, big need - York Dispatch

EDITORIAL: Small games, big need - York Dispatch: "And there are some who would do even more -- if the state would let them.

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."

NJ Fundraising Rule Has National Implications - TheNonProfitTimes

NJ Fundraising Rule Has National Implications - TheNonProfitTimes: "Considering a mandatory donor designation disclosure, the New Jersey Division of Consumer Affairs (NJDCA), is seeking public comment on a “pre-proposal” that would have organizations provide a mechanism for donors to designate funds to specific programs.

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

TheDay.com - Mystic Aquarium, Garde Arts Center, other nonprofits take significant hits | Southeastern Connecticut News, Sports, Weather and Video | The Day newspaper: "The Mystic Aquarium and Garde Arts Center lost significant chunks of financial support as Gov. Dannel P. Malloy announced budget cuts Friday affecting major arts and cultural organizations across the state, and the Eastern Connecticut Tourism District was left to wither away without any funding."

massnonprofit.org ::

massnonprofit.org ::: "July 8, 2011 — A Senate committee last week stripped from a bill a provision that aimed to prevent Massachusetts nonprofits from paying their board members, but the bill’s sponsor, Sen. Mark Montigny, said he is confident his efforts to limit nonprofit board and executive compensation will bear fruit."

massnonprofit.org ::

massnonprofit.org ::: "Charities Should Scrutinize Severance Packages

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."

California Latino Caucus reveals dozens of donors to its foundation - Sacramento Politics - California Politics | Sacramento Bee

California Latino Caucus reveals dozens of donors to its foundation - Sacramento Politics - California Politics | Sacramento Bee: "he Latino Legislative Caucus released the names of dozens of donors Monday that collectively have contributed more than"

IRS change creates difficult twist for small nonprofits

IRS change creates difficult twist for small nonprofits: "In Idaho, 1,407 nonprofit organizations lost their tax-exempt status in the past year because they haven't filed the required annual paperwork with the Internal Revenue Service for three years.

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."

New IRS rule aims to keep better track of Montana nonprofits

New IRS rule aims to keep better track of Montana nonprofits: "The Internal Revenue Service has revoked the tax-exempt status of 1,240 organizations in Montana, including 720 charitable nonprofits, according to the Montana Nonprofit Association. Most are considered defunct, but those that are still running may face hurdles with the IRS."

Charities must be allowed to campaign, Sir Stephen Bubb tells committee of MPs - Third Sector

Charities must be allowed to campaign, Sir Stephen Bubb tells committee of MPs - Third Sector: "Acevo chief executive counters concerns about spending on campaigning and advertising

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

Drovers CattleNetwork - Repeal of Ohio estate tax concerns transition planning professionals - Cattle News - Editorial, Grain & Cattle Markets, Current Stories: "The primary concern is that the repeal, along with changes in the federal estate tax will serve as a disincentive to doing farm transition, business and estate planning,' said Peggy Hall, director of the Agricultural and Resource Law Program of The Ohio State University Extension. 'That's the concern I'm hearing from many attorneys.'"

Oregon Nonprofit Watch: Senate Bill 787; PCPA is audited; and more | OregonLive.com

Oregon Nonprofit Watch: Senate Bill 787; PCPA is audited; and more | OregonLive.com: "After some rest and relaxation, Oregon Nonprofit Watch is back -- tanner, fatter and happier.

A lot of stuff has happened the past 10 days, and we're here to catch up on a few things."

Feds to have freedom for nonprofit service -- GovExec.com

Feds to have freedom for nonprofit service -- GovExec.com: "Federal employees soon will be allowed to serve in their official capacities in nonprofit organizations.

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."

Oklahoma Arts Council News

Oklahoma Arts Council News: "A new state law requiring all Oklahoma nonprofit organizations to register with the Secretary of State's office will go into effect July 1. In addition to registering, the Oklahoma Solicitation of Charitable Contributions Act requires organizations to pay a nominal fee on a yearly basis."

Charities Warned of 'a Tsunami' Over Tax Issues - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Charities Warned of 'a Tsunami' Over Tax Issues - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "Nonprofits should pay more attention to the questions that federal policy makers are asking about the tax breaks that benefit charities, says Diana Aviv, president of Independent Sector, the coalition of charities and foundations.

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.”"

House Proposal Would Simplify Foundation Excise-Tax Rate - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

House Proposal Would Simplify Foundation Excise-Tax Rate - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "House Proposal Would Simplify Foundation Excise-Tax Rate

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."

Charity sector to get public confidence boost - Channel NewsAsia

Charity sector to get public confidence boost - Channel NewsAsia: "SINGAPORE: Simpler and more transparent - that is what a new Charities Accounting Standard is hoping to help charities achieve when they file their financial reports.

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

Opinion: IRS Should Rethink Its Treatment of Charities - Philanthropy Today - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "Opinion: IRS Should Rethink Its Treatment of Charities

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."

Fairfax tweaks tax code to preserve affordable housing groups’ tax exemption - Virginia Politics - The Washington Post

Fairfax tweaks tax code to preserve affordable housing groups’ tax exemption - Virginia Politics - The Washington Post: "The Fairfax County Board of Supervisors has fixed a loophole in its tax code that would have caused affordable housing nonprofit organizations to lose property tax exemptions on their properties, even if those properties were transferred to other affordable housing organizations or simply refinanced."

IRS Seeks Public Comment on New Form 990

Exempt from The NonProfit Times May 17, 2011: "RS Seeks Public Comment on New Form 990

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."

Times-Georgian - Law changes impact some local groups as tax exempt status stripped

Times-Georgian - Law changes impact some local groups as tax exempt status stripped: "Law changes impact some local groups as tax-exempt status stripped
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."

IRS 501(c)(3) Revocation and Your TechSoup Account - The TechSoup Blog - Welcome to the TechSoup Community - TechSoup

IRS 501(c)(3) Revocation and Your TechSoup Account - The TechSoup Blog - Welcome to the TechSoup Community - TechSoup: "What This Means for Your TechSoup Account

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.

- Sent using Google Toolbar"

IRS Considers Changes in Disclosure Rules - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

IRS Considers Changes in Disclosure Rules - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "Many nonprofits and their affiliates could face expanded requirements to disclose information to the Internal Revenue Service if some tax-agency officials and advisers get their way. What’s more, the IRS might require each affiliate to prove it deserves tax exemption, rather than granting one exemption to cover every affiliate."

Mass. Senate Passes Legislation to Limit Compensation for Nonprofit Board Members | United States | Epoch Times

Mass. Senate Passes Legislation to Limit Compensation for Nonprofit Board Members | United States | Epoch Times: "n response to a public outcry of overcompensation of nonprofit board members in the health industry in Massachusetts, the Massachusetts attorney general’s office began to investigate industry practices. In response, the Massachusetts Senate passed legislation to limit the compensation of charitable board members."

massnonprofit.org ::

massnonprofit.org ::: "June 7, 2011 — Two state legislators announced that they recently formed a Nonprofit Caucus to help create a policy environment to support nonprofits and “strengthen the social fabric and economy of Massachusetts.”"

massnonprofit.org ::

massnonprofit.org ::: "June 7, 2011 — Two state legislators announced that they recently formed a Nonprofit Caucus to help create a policy environment to support nonprofits and “strengthen the social fabric and economy of Massachusetts.”"

IRS Names 10 New Members to the Advisory Committee on Tax Exempt and Government Entities

IRS Names 10 New Members to the Advisory Committee on Tax Exempt and Government Entities: "IR-2011-62, June 7, 2011

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."

Land used by BSU, foundation not tax-exempt, court rules - Brockton, MA - The Enterprise

Land used by BSU, foundation not tax-exempt, court rules - Brockton, MA - The Enterprise: "The appeals court didn’t dispute whether the foundation is a charitable organization, it wrote in the ruling.

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

IR-2011-63: IRS Identifies Organizations that Have Lost Tax-Exempt Status; Announces Special Steps to Help Revoked Organizations: "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

275,000 Groups Lose Charity Status - Tax Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "The Internal Revenue Service said today that 275,000 nonprofits have lost their tax-exempt status because they did not file legally required documents for three consecutive years. That move trims the number of tax-exempt groups by about 14 percent.

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."

Automatic Revocation of Tax-Exempt Status Fact Sheetlication/pdf Object)

Automatic Revocation of Exemption

Automatic Revocation of Exemption: "Automatic Revocation of Exemption


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."

Public Comment Sought On 990 - TheNonProfitTimes

Public Comment Sought On 990 - TheNonProfitTimes: "By: Samuel J Fanburg

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."

Editorial: Better way unfolds on nonprofits | The Leaf Chronicle – Clarksville, Tenn., and Fort Campbell | theleafchronicle.com

Editorial: Better way unfolds on nonprofits | The Leaf Chronicle – Clarksville, Tenn., and Fort Campbell | theleafchronicle.com: "This year, however, a council committee was formed to develop a more reasonable process for awarding city money to nonprofits. The process calls for the agencies to apply for the money and give a presentation at a public hearing. The committee then scores them on a number of criteria, such as their financial statements and the number of people they service."

This Announcement invites public comments on transitional issues and frequently asked questions involving the redesigned Form 990

2011 Form 990 – Issues for Public Comment
Announcement 2011-36
PURPOSE
This Announcement invites public comments on transitional issues and freqhtfuently
asked questions involving the redesigned Form 990.

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

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: "Study Shows How Changes to the Tax Code Could Affect Giving

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."

Part II: Starting a Nonprofit in Arizona – Forming the Entity | CharityLawyer

Part II: Starting a Nonprofit in Arizona – Forming the Entity | CharityLawyer: "Once a non-profit founder has surveyed the non-profit landscape and found a legitimate need, recruited an initial board, created business and fundraising plans, and scraped together some start-up funding, he or she is ready to proceed. In Arizona, it usually makes the most sense to form the entity as an Arizona non-profit corporation. Very generally, the steps to creating a new non-profit corporation in Arizona are as follows:"

Mass. leads way to reining in charity exec pay - BostonHerald.com

Mass. leads way to reining in charity exec pay - BostonHerald.com: "Once again, Massachusetts is looking to be a leader.

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."

Austin High School Students Sponsor Book Drive To Benefit Community Center In New Orleans | FortBendNow.com

Austin High School Students Sponsor Book Drive To Benefit Community Center In New Orleans | FortBendNow.com: "Austin High School’s Youth In Philanthropy student volunteers and their sponsors, Ayanna Banks and Christina Lau, have decided to tackle one more service project this school year apart from their participation with The George Foundation."

Idealist Blog � Blog Archive � U.S. nonprofits: Monday is the deadline for lots of 990s

Idealist Blog � Blog Archive � U.S. nonprofits: Monday is the deadline for lots of 990s: "Nonprofits with a January to December fiscal year probably need to file a Form 990 with the IRS by Monday, May 16.

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."

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

From Civil Society in UK

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)."

Nonprofits priceless - BostonHerald.com

Nonprofits priceless - BostonHerald.com: "After years of extracting “voluntary” Payments In Lieu of Taxes from nonprofit hospitals and universities, the city recently sent what amounts to fourth-quarter 2011 real estate tax bills to 40 nonprofit organizations. Their “assessment” is 25 percent of what it would be for a for-profit business."

Oregon House debates changes to the estate tax | OregonLive.com

Oregon House debates changes to the estate tax | OregonLive.com: "SALEM -- The Oregon House on Tuesday voted to rewrite the state's inheritance tax in an attempt to make it easier for family farms, ranches and forestlands to be passed from one generation to the next."

Greenpeace not a charity: court - national | Stuff.co.nz

Greenpeace not a charity: court - national | Stuff.co.nz: "Greenpeace New Zealand's political activities mean it cannot register as a charity, the High Court has decided.

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."

Tenn: Year after big flood, critics want to know why millions raised for relief remain unspent

Tenn: Year after big flood, critics want to know why millions raised for relief remain unspent: "More than $29 million was donated for flood relief, according to the Tennessean. The Community Foundation of Middle Tennessee has collected much of that, and millions remain unspent.

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."

Nonprofits Want to Ban Unattended Donation Containers - WGHP

Nonprofits Want to Ban Unattended Donation Containers - WGHP: "WINSTON-SALEM, N.C. (WGHP)—
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."

The Nonprofit Quarterly | @npquarterly | In Tough Times Nonprofits Face What Feel Like Taxes

The Nonprofit Quarterly | @npquarterly | In Tough Times Nonprofits Face What Feel Like Taxes: "The Boston Globe reports that 40 of the city's largest nonprofits with property valued at $15 million or more have received letters from the city requesting them to make regular and voluntary tax payments based on the value of their holdings. The new plan requires the affected nonprofits, including those making smaller Payments in Lieu of Taxes (PILOTs) for years, to now pay up to 25 percent of what they'd be billed if they weren't exempt from property taxes."

Small Business Health Care Tax Credit: Frequently Asked Questions

Small Business Health Care Tax Credit: Frequently Asked Questions: "2. Can a tax-exempt organization be a qualified employer?

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)."

Majority Of Tax-Exempts Pay Tax Anyway

Majority Of Tax-Exempts Pay Tax Anyway: "Majority Of Tax-Exempts Pay Tax Anyway

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."

Nonprofits Call for Changes to 'Arcane' Lobbying Rules - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Nonprofits Call for Changes to 'Arcane' Lobbying Rules - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "Independent Sector, the coalition of charities and foundations, says it is time to explore ways to change the federal rules that restrict nonprofit lobbying.

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."

The Nonprofit Quarterly | @npquarterly | AG Opinion Freezes Payments to Virginia Nonprofits

The Nonprofit Quarterly | @npquarterly | AG Opinion Freezes Payments to Virginia Nonprofits: "| In Virginia, attorney general legal opinions are supposed to be advisory, and not have the full effect of law. But, according to the Washington Post, unless lawmakers can find a way around Ken Cuccinell's ruling last January that the state's constitution bars grants to private charities, 'groups that work with some of the state’s neediest residents' could lose millions of dollars in funding."

States Offer Charity ‘Checkoffs’ To Give Through Taxes | Nonprofit News

States Offer Charity ‘Checkoffs’ To Give Through Taxes | Nonprofit News: "Though tax season is dreaded by most, it brings with it an added bonus. Tax refunds are the silver-lining of filing tax returns and, though for some they can be an essentially needed financial boost, they also provide opportunities to give back.

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

IRS Warns of Tax Abuses Involving Nonprofits - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "IRS Warns of Tax Abuses Involving Nonprofits

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."

NEW LEADER ON BOARD - Association Bisnow - Washington

NEW LEADER ON BOARD - Association Bisnow - Washington: "American Associations Day is finally here, and ASAE will be celebrating today and tomorrow with a legislative fly-in. (Unlike other holiday fly-ins, this one does not involve reindeer or your mother-"

Policy Update: AFP Urges Senate Committee to Support Tax Incentives for Giving - Press - AFP

Policy Update: AFP Urges Senate Committee to Support Tax Incentives for Giving - Press - AFP: "Policy Update: AFP Urges Senate Committee to Support Tax Incentives for Giving

(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."

New York AG Issues Endowment Guidance- Exempt from The NonProfit Times March 22, 2011

New York AG Issues Endowment Guidance- Exempt from The NonProfit Times March 22, 2011: "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."

Not-so-giving charities would be punished under bill in Oregon Legislature | OregonLive.com

Not-so-giving charities would be punished under bill in Oregon Legislature

Publish Post

| OregonLive.com

Demystifying the 2010 Tax Act: What You Need To Know - Lewis Saret - The Wealth Strategies Report - Forbes

Demystifying the 2010 Tax Act: What You Need To Know - Lewis Saret - The Wealth Strategies Report - Forbes: "In December 2010, President Obama significantly changed the federal estate tax by signing the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the “Act”). The Act impacts the estate plans of many individuals while presenting noteworthy estate planning opportunities. This post summarizes the key changes and provisions of the Act, detailing what you most need to know in order to stay on top of you and your clients’ estate plans in the coming years."

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

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: "Congressman Urges Foundation Officials to Push for Tax Changes

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."

Nonprofits Oppose House Spending Reductions - Government - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Nonprofits Oppose House Spending Reductions - Government - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "onprofit advocates are gearing up to try to head off deep federal budget cuts for the 2011 fiscal year that were adopted over the weekend by the House of Representatives.

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

Israel’s Government Set to Encourage Giving | eJewish Philanthropy: Your Jewish Philanthropy Resource: "For the first time, the State of Israel will recognize the importance of philanthropic funds as a vital element in financing non-profit associations and social activities.

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."

Current Edition of Exempt Organizations Update

Current Edition of Exempt Organizations Update: "Current Edition of Exempt Organizations Update


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."

Charitable Deduction Limit: Bad For Art Nonprofits? : NPR

Charitable Deduction Limit: Bad For Art Nonprofits? : NPR: "Now, in an effort to reduce the deficit, President Obama hopes to limit the charitable deduction for the top income bracket. That is, wealthy donors who itemize would not be able to deduct as much from their income to owe less in taxes. Charities — which are already hurting from the economic downturn — are worried this will discourage potential donors."

Help generous Iowans trust charities | The Des Moines Register | DesMoinesRegister.com

Help generous Iowans trust charities | The Des Moines Register | DesMoinesRegister.com: "Iowans need a simple, state-based source for checking out a charity to be able to answer that question. The Iowa Legislature should provide it by finally passing the Charitable Solutions Act.

Proposed again this year by Iowa Attorney General Tom Miller, Senate Study Bill 1029 would allow the state to establish a registry of organizations."

U.S. Senate Passes 1099 Repeal- The NonProfit Times Feb 14, 2011

U.S. Senate Passes 1099 Repeal- The NonProfit Times Feb 14, 2011: "Amid all the bad news charities are getting lately, there is a glimmer of hope -- at least for the accounting departments. The U.S. Senate this past Wednesday approved an amendment that would repeal a measure that would require nonprofits to file a Form 1099 for any vendor with which they spend more than $600. The new rule is set to take effect in January 2012."

IRS Rules on Deductibility of Payments That Produce Transferable State Tax Credits | Planned Giving Design Center

IRS Rules on Deductibility of Payments That Produce Transferable State Tax Credits | Planned Giving Design Center: "The IRS has ruled that payments of cash or property to a state agency or charitable organization that produce transferable state tax credits are considered qualified charitable contributions under section 170 of the Internal Revenue Code and are not a payment of tax possibly deductible under � 164. Further ruled, in the case of transfers of property, such transfers are not considered a taxable disposition under section section 1001."

IRS Releases Revised Pub. 526 - Charitable Contributions | Planned Giving Design Center

IRS Releases Revised Pub. 526 - Charitable Contributions | Planned Giving Design Center: "The IRS has released a revised version of Publication 526 - Charitable Contributions for use in helping taxpayers prepare 2010 tax returns."

Ohio.com - Charities worry fewer will donate if tax is repealed

Ohio.com - Charities worry fewer will donate if tax is repealed: "Charities also are worried.

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?"

Estate tax repeal among 18 bills Ohio House GOP introduces to advance agenda | cleveland.com

Estate tax repeal among 18 bills Ohio House GOP introduces to advance agenda | cleveland.com: "COLUMBUS, Ohio - The new Republican majority in the Ohio House of Representatives introduced a plan to repeal the Ohio estate tax on Tuesday, along with other bills to advance an agenda they say is focused on job creation."

Puget Sound nonprofits lobby for cultural taxing districts | Puget Sound Business Journal

Puget Sound nonprofits lobby for cultural taxing districts | Puget Sound Business Journal: "Nonprofit groups want to leverage the economic impact of the arts to encourage state lawmakers to help create special cultural taxing districts.

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."

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

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: "Gov. Patrick J. Quinn is set to sign legislation to increase the state’s income and corporate taxes and help the state plug a budget hole of at least $13-billion.

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."

The Nonprofit Quarterly | @npquarterly | County Reconsidering Need for Audits

The Nonprofit Quarterly | @npquarterly | County Reconsidering Need for Audits: "anuary 9, 2011; Source:Star News | Nonprofits receiving a small amount of money from Brunswick County, N.C. may find themselves relieved of the burden of producing full-blown audits soon. The county is reviewing the practice of demanding an audit that could cost between $4,000 and $7,000 from small organizations receiving grants that are sometimes smaller than that cost."

Evangelical Groups Avoid Legislation, For Now- The NonProfit Times Jan 7, 2011

Evangelical Groups Avoid Legislation, For Now- The NonProfit Times Jan 7, 2011: "Three years after a senator's inquiry into finances of some of the nation's largest media-driven ministries, a new panel has been established to tackle significant issues as an alternative to Congress passing legislative reforms.

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."

Heard on the Web: Planning For A Disappearing Estate Tax Break | Planned Giving Design Center

Heard on the Web: Planning For A Disappearing Estate Tax Break | Planned Giving Design Center: "Although a new $5 million estate tax break may be welcome news to many taxpayers, the provision is scheduled to expire at the end of 2012. Writing for Forbes, Deborah L. Jacobs discusses measures estate owners and their advisers are contemplating to plan for an uncertain future."

The Nonprofit Quarterly | @npquarterly | New Estate Tax Law Could Hurt Charity

The Nonprofit Quarterly | @npquarterly | New Estate Tax Law Could Hurt Charity: "December 28, 2011; Source:Forbes | A tax lawyer writing for Forbes suggests that the new tax bill's reinstatement of the estate tax isn't going to be much of an incentive for lifetime charitable giving or charitable bequests. Had the Bush tax cuts expired, the estate tax would have been reinstated with an exemption of $1 million per person and a tax rate of 55 percent. The compromise tax bill set the exemption from the federal estate tax at $5 million per person and the estate tax rate at 35 percent."

Impact of December, 2010 Tax Law Changes on Charitable Giving | Planned Giving Design Center

From December 2010 via PGDC

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."