Conference Recap: 501(c)(4)s and Public Policy: What You Need to Know »Blog: "In purpose, 501(c)(4)s with social welfare purposes may resemble 501(c)(3)s with charitable purposes, but they differ in a few important ways:
501(c)(4)s are not eligible to receive deductible charitable contributions;
they can engage in lobbying without the restrictions applicable to 501(c)(3)s; and
they can engage in political campaign intervention activities, including endorsing candidates, so long as such activities do not constitute their primary activity.
Examples of 501(c)(4)s cited by the panel included the Sierra Club, Planned Parenthood, ACLU, AARP, NRA, and Disabled Veterans of America, organizations many mistakenly believe are charities."
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Wednesday, November 26, 2014
Monday, November 24, 2014
Why Canada's Charity System Needs To Consider 'Disbenefits' | Blake Bromley
Why Canada's Charity System Needs To Consider 'Disbenefits' | Blake Bromley: "Previously, I wrote a post about how the leading charity law case, Income Tax Special Commissioners v. Pemsel, requires Scottish charities to conform with English common law. I compared this with Canada's exclusion of Quebec civil law, and its concept of 'bienfaisance,' in determining the meaning of charity in Canada."
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Wednesday, November 19, 2014
Monday, November 17, 2014
Harper Government Celebrates National Philanthropy Day by Highlighting Tax Breaks for Charitable Donations
Harper Government Celebrates National Philanthropy Day by Highlighting Tax Breaks for Charitable Donations: "The Honourable Kerry-Lynne D. Findlay, P.C., Q.C., M.P., Minister of National Revenue, today celebrated National Philanthropy Day by applauding the many Canadians across the country who choose to donate to charities and is encouraging them to take advantage of the tax credits available for eligible charitable donations.
Minister Findlay particularly highlighted the benefits of the first-time donor's super credit. The new temporary donor super credit provides an extra 25 percent federal credit on top of the original charitable donation tax credit. This means that eligible first-time donors can get a 40 percent federal credit for monetary donations of $200 or less, and a 54 percent federal credit for the portion of donations that are over $200 up to a maximum of $1,000. The donor super credit applies to donations made after March 20, 2013, and can only be claimed once between 2013 and 2017. This is in addition to the provincial credits available."
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Minister Findlay particularly highlighted the benefits of the first-time donor's super credit. The new temporary donor super credit provides an extra 25 percent federal credit on top of the original charitable donation tax credit. This means that eligible first-time donors can get a 40 percent federal credit for monetary donations of $200 or less, and a 54 percent federal credit for the portion of donations that are over $200 up to a maximum of $1,000. The donor super credit applies to donations made after March 20, 2013, and can only be claimed once between 2013 and 2017. This is in addition to the provincial credits available."
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Thursday, November 13, 2014
Reporting Changed Mission Statement to the IRS
Reporting Changed Mission Statement to the IRS: "Question: What happens if we change our mission statement? Do we have to report it? And what if we change our name?"
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Wednesday, November 12, 2014
Stretch Tax FAQ | Imagine Canada
Stretch Tax FAQ | Imagine Canada:
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What is the Stretch Tax Credit?
The Stretch Tax Credit is a proposal to increase the federal charitable tax credit on giving that exceeds a donor’s previous highest giving level. The tax credit would increase from 15% to 25% for eligible amounts below $200, and from 29% to 39% for eligible amounts above $200.
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Thursday, November 06, 2014
GOP’s Senate Wins Boost Prospects of Nonprofit Tax Changes - Government - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
GOP’s Senate Wins Boost Prospects of Nonprofit Tax Changes - Government - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "With Republicans poised to take control of the Senate following Tuesday’s elections, it is likely that lawmakers will dig deep into the tax code soon after a new Congress is sworn in next year. While that means added scrutiny on the charitable deduction and the tax treatment of nonprofits, charity leaders are confident a solidly Republican Congress will keep their cherished provisions intact."
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