Friday, November 09, 2012
Charity Regulators (Finally) Eye Overvaluation Of Donated Goods - Forbes
Charity Regulators (Finally) Eye Overvaluation Of Donated Goods - Forbes: lizabeth Korsmo is an assistant attorney general in New Mexico and heads that state’s Charities Bureau. By all gossip–and there’s a lot–she is a key player in a coordinated but unpublicized effort by charitable regulators across a number of states to crack down on nonprofits who greatly exaggerate the value of donated goods to make themselves look bigger and better than they really are.
Thursday, November 08, 2012
Donor-Advised Funds Surge Past Pre-Recession Highs - Planned Giving - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Donor-Advised Funds Surge Past Pre-Recession Highs - Planned Giving - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: Donor-Advised Funds Surge Past Pre-Recession Highs
By Holly Hall
Donor-advised funds last year grew for the first time since 2007, the best year the funds had before the recession took hold, according to a study released today.
Using data from 652 organizations, the National Philanthropic Trust examined the performance of the funds, which allow people to set up charitable accounts, take an immediate tax deduction, and channel money to whatever charities they want whenever they want.
By Holly Hall
Donor-advised funds last year grew for the first time since 2007, the best year the funds had before the recession took hold, according to a study released today.
Using data from 652 organizations, the National Philanthropic Trust examined the performance of the funds, which allow people to set up charitable accounts, take an immediate tax deduction, and channel money to whatever charities they want whenever they want.
Most Key Lawmakers for Nonprofits Win Re-Election - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas
Most Key Lawmakers for Nonprofits Win Re-Election - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: But the oversight subcommittee’s chairman, Charles Boustany of Louisiana—who has been holding a series of hearings about charity regulation—faces a runoff election next month as required by state law because no candidate won a majority of votes. He will face Rep. Jeff Landry, also a Republican congressman. They are contesting a new district that was drawn after Louisiana lost one seat due to redistricting.
Monday, November 05, 2012
OSCR publishes paper to help Scottish charities release restricted funds | Third Sector
OSCR publishes paper to help Scottish charities release restricted funds | Third Sector: Guidance explains how to unlock assets that cannot be used because of outdated restrictions
The Office of the Scottish Charity Regulator has published a guidance paper on new legislation aimed at making it easier for charities in Scotland to free up restricted funds for charitable purposes.
Under the Charities Restricted Funds Reorganisation (Scotland) Regulations 2012, which came into effect on Thursday, charities can apply to the OSCR to unlock assets that cannot be used because of outdated restrictions.
The Office of the Scottish Charity Regulator has published a guidance paper on new legislation aimed at making it easier for charities in Scotland to free up restricted funds for charitable purposes.
Under the Charities Restricted Funds Reorganisation (Scotland) Regulations 2012, which came into effect on Thursday, charities can apply to the OSCR to unlock assets that cannot be used because of outdated restrictions.
Bay Area nonprofits defend some tax breaks for the wealthy | California Watch
Bay Area nonprofits defend some tax breaks for the wealthy | California Watch: Bay Area nonprofits, which often advocate for some of the neediest Americans, are finding themselves the unlikely defenders of a politically unpopular stance: keeping some tax loopholes for the rich.
“It’s a paradox,” said Jan Masaoka, CEO of the California Association of Nonprofits, a coalition of more than 1,600 charities. “The nonprofit sector, which roots for the underdog, supports tax breaks to the wealthy because charitable deductions help us.”
“It’s a paradox,” said Jan Masaoka, CEO of the California Association of Nonprofits, a coalition of more than 1,600 charities. “The nonprofit sector, which roots for the underdog, supports tax breaks to the wealthy because charitable deductions help us.”
Bay Area nonprofits defend some tax breaks for the wealthy | California Watch
Bay Area nonprofits defend some tax breaks for the wealthy | California Watch: Bay Area nonprofits, which often advocate for some of the neediest Americans, are finding themselves the unlikely defenders of a politically unpopular stance: keeping some tax loopholes for the rich.
“It’s a paradox,” said Jan Masaoka, CEO of the California Association of Nonprofits, a coalition of more than 1,600 charities. “The nonprofit sector, which roots for the underdog, supports tax breaks to the wealthy because charitable deductions help us.”
“It’s a paradox,” said Jan Masaoka, CEO of the California Association of Nonprofits, a coalition of more than 1,600 charities. “The nonprofit sector, which roots for the underdog, supports tax breaks to the wealthy because charitable deductions help us.”
Thursday, November 01, 2012
Charity Commission expected to open doors in December
Charity Commission expected to open doors in December: The Australian Charities and Not-for-profit Commission is closer to opening its doors after amendments to the Australian Charities and Not-for-profit Commission Bill were passed in the Senate yesterday, and then the amended Bill was passed in the House of Representatives today.
The start date for the ACNC will be announced in the coming weeks, it is expected to be in early December. It will be led by interim Commissioner Susan Pascoe.
The start date for the ACNC will be announced in the coming weeks, it is expected to be in early December. It will be led by interim Commissioner Susan Pascoe.
Wednesday, October 31, 2012
Should Volunteers Be Offered Tax Incentives? - NPQ – Nonprofit Quarterly - Promoting an active and engaged democracy.
Should Volunteers Be Offered Tax Incentives? - NPQ – Nonprofit Quarterly - Promoting an active and engaged democracy.: The term “paid volunteers” sounds like an oxymoron. However, the U.S. does provide stipends for some “volunteers” through the AmeriCorps program of the Corporation for National and Community Service. In Canada, a member of parliament has proposed a tax credit to reward volunteers for their work and to incentivize more people to volunteer. MP Jean-Francois Larose, a member of the New Democratic Party (NDP), introduced the Volunteer Tax Credit bill in February and in September, Larose made what Charity Village called “an impassioned speech” in parliament. He got some expressions of support from Liberal parliament members, but members of the Conservative party “figuratively tore the bill apart.”
Charitable Deduction Isn’t ‘Loophole To Close’ - TheNonProfitTimes
Charitable Deduction Isn’t ‘Loophole To Close’ - TheNonProfitTimes: In the middle of an acrimonious election season, policymakers in Washington, D.C., are faced with a looming “fiscal cliff” and the very real possibility that their delay in dealing with a number of fiscal policies is finally catching up with the country.
The facts are stark and can be universally agreed upon: With the growth in entitlement spending and a tax code that grows more complex every year, this country faces a major need to look at all fiscal policy to determine what is the best path forward for long-term, sustained economic growth. Regardless of what mix of “revenue enhancements” and spending cuts are used, a healthy nonprofit sector will be a critical component to these changes.
The facts are stark and can be universally agreed upon: With the growth in entitlement spending and a tax code that grows more complex every year, this country faces a major need to look at all fiscal policy to determine what is the best path forward for long-term, sustained economic growth. Regardless of what mix of “revenue enhancements” and spending cuts are used, a healthy nonprofit sector will be a critical component to these changes.
Thursday, October 25, 2012
Bennington Banner: Select Board sets new policy for nonprofit funding - Bennington Banner
Bennington Banner: Select Board sets new policy for nonprofit funding - Bennington Banner: BENNINGTON -- The Select Board has approved a new policy to deal with private, nonprofit agencies that seek town funding.
Those agencies can appear on the town ballot every March seeking funds if they gather signatures -- 5 percent of the registered voters are required -- on a petition. The town in the past has allowed agencies to stay on the ballot in subsequent years without gathering signatures if the funding request remains the same.
Those agencies can appear on the town ballot every March seeking funds if they gather signatures -- 5 percent of the registered voters are required -- on a petition. The town in the past has allowed agencies to stay on the ballot in subsequent years without gathering signatures if the funding request remains the same.
B.C. puts a cork on wine fundraisers | CTV British Columbia News
B.C. puts a cork on wine fundraisers | CTV British Columbia News: A B.C. liquor law banning charities from auctioning off donated wine has left some philanthropists with a sour taste in their mouths.
The law came to light when the Belfry Theatre in Victoria was denied a Special Occasion License for its annual wine fundraiser.
Organizers received a letter from the Liquor Control and Licensing Branch informing them that B.C.’s “laws and policies expressly prohibit organizations from soliciting bottles of liquor from individuals to be auctioned for charity.”
The law came to light when the Belfry Theatre in Victoria was denied a Special Occasion License for its annual wine fundraiser.
Organizers received a letter from the Liquor Control and Licensing Branch informing them that B.C.’s “laws and policies expressly prohibit organizations from soliciting bottles of liquor from individuals to be auctioned for charity.”
Campaign finance watchdog may sue Arizona group - latimes.com
Campaign finance watchdog may sue Arizona group - latimes.com: alifornia's campaign finance watchdog plans to decide on Wednesday whether to sue a mysterious Arizona nonprofit that pumped $11 million into two California initiative campaigns last week.
The legal action could become a test of a new state regulation requiring nonprofits to disclose the identity of their donors if they know the money is going to be used in a California campaign.
The legal action could become a test of a new state regulation requiring nonprofits to disclose the identity of their donors if they know the money is going to be used in a California campaign.
The IRS And Permissible Activity - TheNonProfitTimes
The IRS And Permissible Activity - TheNonProfitTimes: The presidential election is just a couple of weeks away and people sometimes get desperate as the days get closer. Federal tax law strictly prohibits 501(c)(3) organizations from engaging in activities to support or oppose candidates for public office.
However, there are still a number of ways that 501(c)(3)s can be involved in the political process without running afoul of the law.
Unfortunately, the line between prohibited and permissible activities is murky and can be easily crossed if proper managers of the 501(c)(3) are not careful in how they plan and execute the activities. Now might be a good time to review the rules that will help you stay on the right side of the line while involved in the process.
However, there are still a number of ways that 501(c)(3)s can be involved in the political process without running afoul of the law.
Unfortunately, the line between prohibited and permissible activities is murky and can be easily crossed if proper managers of the 501(c)(3) are not careful in how they plan and execute the activities. Now might be a good time to review the rules that will help you stay on the right side of the line while involved in the process.
Charity Commission changes stance on transfer of assets
Charity Commission changes stance on transfer of assets: Charities seeking to transfer assets after dissolving to set up a charitable company with the same directors will now require Charity Commission approval to do so, the regulator has advised.
In a letter from the Commission's chief legal adviser Kenneth Dibble to the Charity Law Association's chair, Ann Black, Dibble said the Commission has recently dealt with a number of cases where unincorporated charities have sought to do this - usually to enable them to start trading.
In a letter from the Commission's chief legal adviser Kenneth Dibble to the Charity Law Association's chair, Ann Black, Dibble said the Commission has recently dealt with a number of cases where unincorporated charities have sought to do this - usually to enable them to start trading.
Wednesday, October 24, 2012
Fundraising bodies show united front before sceptical MPs
Fundraising bodies show united front before sceptical MPs: Regulatory confusion
Liberal Democrat MP Greg Mulholland cited Lord Hodgson’s report condemning the confused regulatory landscape, and asked if the three membership bodies were sorting that out as instructed and “getting on better now”.
Lewis said they each had a distinct role in the regulatory framework – the Institute as legislator, the PFRA as police, and the FRSB as judge – and that this model was the right one. Alistair McLean added that the challenge laid down by Lord Hodgson was significant, but that good progress had already been made by the three organisations in making it easier for the public to understand.
The fundraising bodies were appearing before the committee as part of its inquiry into the regulation of the charitable sector and the Charities Act 2006.
Liberal Democrat MP Greg Mulholland cited Lord Hodgson’s report condemning the confused regulatory landscape, and asked if the three membership bodies were sorting that out as instructed and “getting on better now”.
Lewis said they each had a distinct role in the regulatory framework – the Institute as legislator, the PFRA as police, and the FRSB as judge – and that this model was the right one. Alistair McLean added that the challenge laid down by Lord Hodgson was significant, but that good progress had already been made by the three organisations in making it easier for the public to understand.
The fundraising bodies were appearing before the committee as part of its inquiry into the regulation of the charitable sector and the Charities Act 2006.
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