IRS will eventually catch most online UBI - TheNonProfitTimes: The Internal Revenue Service (IRS) has not caught up to many of the issues raised by Web advertising and merchandising. Yet.
As Jeffrey S. Tenenbaum and Lisa M. Hix of Venable LLP point out, it is likely that the IRS will eventually catch up, and it has already said that its position will be consistent with its policies on off-line revenue.
Monday, January 23, 2012
Friday, January 20, 2012
Consultation asks whether charities should be registered as lobbyists | Third Sector
Consultation asks whether charities should be registered as lobbyists | Third Sector: A Cabinet Office consultation on plans to set up a register of lobbyists asks whether charities and groups lobbying on their behalf should be required to join the register.
The consultation document, Introducing a Statutory Register of Lobbyists, was published today.
The consultation document, Introducing a Statutory Register of Lobbyists, was published today.
House measure aims to build philanthropy, community foundations in Alaska | The Republic
House measure aims to build philanthropy, community foundations in Alaska | The Republic: JUNEAU, Alaska — A bill aimed at building philanthropy and community foundations has been introduced in the Alaska House.
He says communities without existing foundations will have a way to get endowed funds in place to support local priorities.
House Bill 290 would create the Endow Alaska grant program. The measure envisions an annual grant to a lead philanthropic organization that in turn would offer grants to community foundations with a 1-to-1 match for every dollar raised.
He says communities without existing foundations will have a way to get endowed funds in place to support local priorities.
House Bill 290 would create the Endow Alaska grant program. The measure envisions an annual grant to a lead philanthropic organization that in turn would offer grants to community foundations with a 1-to-1 match for every dollar raised.
Christie Signs Legislation To Protect Donations To Libraries | njtoday.net – Everything New Jersey
Christie Signs Legislation To Protect Donations To Libraries | njtoday.net – Everything New Jersey: TRENTON – Gov. Chris Christie this week signed legislation that prohibits municipal library trustees from transferring donated funds to municipalities. The legislation, sponsored by Assemblymen Craig Coughlin (D-Middlesex) and Daniel Benson (D-Mercer), and Senator Joseph Vitale (D-Middlesex), ensures that municipal libraries will be able to retain all funds donated through charitable gifts.
Thursday, January 19, 2012
Does Charity Advocacy Pay Off? - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: A study released today from a foundation watchdog group says that advocacy efforts by charities can pay off, to the tune of billions of dollars to communities.
The National Committee for Responsive Philanthropy study examined 110 charities in 13 states and found that work such as pushing for more aid to schools and housing for the poor resulted in $26.6-billion in benefits to communities over five years. Money for the campaigns came from foundations and other donors.
The National Committee for Responsive Philanthropy study examined 110 charities in 13 states and found that work such as pushing for more aid to schools and housing for the poor resulted in $26.6-billion in benefits to communities over five years. Money for the campaigns came from foundations and other donors.
JCT Publishes List of Expiring Tax Provisions | Planned Giving Design Center
JCT Publishes List of Expiring Tax Provisions | Planned Giving Design Center: The Joint Committee on Taxation has published a list of expiring tax provisions for 2011 through 2012. Charitable provisions that expired on December 31, 2011 include enhanced charitable deductions for contributions of food inventory, book inventories to public schools, and corporate contributions of computer equipment for educational purposes; a basis adjustment to stock of S corporations making charitable contributions of property; and most, notably, tax-free distributions from individual retirement plans for charitable purposes.
Wednesday, January 11, 2012
Institute of Fundraising lobbies peers over edited electoral register | Third Sector
Institute of Fundraising lobbies peers over edited electoral register | Third Sector: Louise Richards, director of policy and campaigns at the IoF, is lobbying a number of peers in advance of the debate. It is strongly against abolition of the register and been warning for some time that the Ministry of Justice is likely to abolish it.
The register does not contain details of people who have opted out of receiving marketing materials and is available for general purchase. It is used by many charities in their fundraising.
The register does not contain details of people who have opted out of receiving marketing materials and is available for general purchase. It is used by many charities in their fundraising.
The Nonprofit Quarterly | @npquarterly | Occupy the Charitable Tax Deduction
The Nonprofit Quarterly | @npquarterly | Occupy the Charitable Tax Deduction: Stung, I retreated to my computer, where I spent more than a hundred hours reading research papers, reports from the Joint Committee on Taxation, Office of Management and Budget, Giving USA, Harvard and Boston College Law School journals, Tax Notes, Tax Policy Center, and the Council on Taxes and Philanthropy, among others.
I emerged with a section of the tax code that handcuffs nonprofit organizations from advocating for the very constituencies they were created to serve; costs more than $30 billion a year; is available only to the wealthy; is subject to pervasive abuses that cost even more billions; just might be at least technically unconstitutional under provisions of the First Amendment; and, to top it all off, has never been able to demonstrate that it accomplishes the primary purpose for which it was created.
This is the charitable tax deduction.
I emerged with a section of the tax code that handcuffs nonprofit organizations from advocating for the very constituencies they were created to serve; costs more than $30 billion a year; is available only to the wealthy; is subject to pervasive abuses that cost even more billions; just might be at least technically unconstitutional under provisions of the First Amendment; and, to top it all off, has never been able to demonstrate that it accomplishes the primary purpose for which it was created.
This is the charitable tax deduction.
Tuesday, January 10, 2012
4 UBIT facts to understand - TheNonProfitTimes
4 UBIT facts to understand - TheNonProfitTimes: So, you think you know UBIT? It is no secret that unrelated business income tax (UBIT) is a huge headache, as well as a catastrophe waiting for any nonprofit unaware of it.
In his book “Finance Fundamentals for Nonprofits” Woods Bowman presents a few tidbits about UBIT, some of which are well-known and others that are more obscure. All of them could spell trouble for the unaware. For example:
In his book “Finance Fundamentals for Nonprofits” Woods Bowman presents a few tidbits about UBIT, some of which are well-known and others that are more obscure. All of them could spell trouble for the unaware. For example:
Monday, January 09, 2012
The Nonprofit Quarterly | @npquarterly | Chicago Will Levy Fees on Cash-Strapped Nonprofits
The Nonprofit Quarterly | @npquarterly | Chicago Will Levy Fees on Cash-Strapped Nonprofits: The Gazette reports about the phased-in elimination of fee waivers for water, sewer, and other city services for nonprofits which Chicago officials say will generate millions of dollars for the refurbishment of the city’s aging water infrastructure, including the replacement of hundreds of miles of water and sewer pipes.
Payments-in-lieu of taxes or PILOTS, are an attractive solution for cash-strapped state and local governments. They have been increasingly in use this past decade, as municipalities feel more justified in demanding that nonprofits pay their fair share. After all, these are tough times, and everyone is pitching in.
Payments-in-lieu of taxes or PILOTS, are an attractive solution for cash-strapped state and local governments. They have been increasingly in use this past decade, as municipalities feel more justified in demanding that nonprofits pay their fair share. After all, these are tough times, and everyone is pitching in.
Subscribe to:
Posts (Atom)