Tax, Legal & Compliance

Understand the Regulations, and Educate Your Nonprofit Board Members
April 4, 2018 at 11:18 am

As development professionals, it generally falls to us (the executive director and the person in charge of finance are often in the boat with us) to keep current on the fundraising regulations of countries and states in which our nonprofit organizations solicit funds to support our missions. It can be difficult to keep up and, sometimes, we may miss things; it happens...

Charitable Deductions Did Not Go Away
March 27, 2018 at 11:36 am

For many Americans the new tax act, now known as Tax Cuts & Jobs Act of 2017, means they will no longer itemize their charitable deductions. While this may make their tax filing simpler, it also means that giving money to charity will no longer be tax deductible...

Section 1031 and Done: New Opportunities for Charities
March 6, 2018 at 11:43 am

The Tax Cut and Jobs Act that went into effect on Jan. 1 contains sweeping changes to the entire tax system. Corporate, personal and estate taxes have been revamped entirely, and practitioners are scrambling to adapt to the new regime and to provide the “right” advice for their clients...

Tax Reform Tosses Nonprofits $1M Quandary
February 6, 2018 at 12:23 pm

The recent reform of the U.S. tax code has been lauded in many circles, but it has left some nonprofits reeling and facing potentially large excise taxes. For tax years beginning on or after Jan. 1, tax-exempt organizations face a 21 percent excise tax on executive compensation that is above $1 million, prompting intense chatter among some nonprofits worried about hefty tax bills...

New Tax Law: How Worried Should Your Nonprofit Be?
January 12, 2018 at 12:29 pm

Tax benefits are icing on the philanthropy cake. What to do when the icing is melting? First, the good news. The sky is not falling. Human beings have given long before the existence of charitable deductions.  Human beings are generous. They like being helpful. They like making a difference. They like doing the right thing.…

Hedge Fund Executive Accused of Tricking Charity
January 4, 2018 at 12:44 pm

A former hedge fund executive lied to a U.K. charity, so an associate could repay part of an $18 million loan owed to the tainted hedgie, according to a 10-count indictment unsealed Wednesday in Brooklyn federal court. Michael Cohen, 46, formerly of Och-Ziff Capital Management, duped the charity into buying stock in a mining company—without…

#NPPTrendingNow Ep. 27: Senate, House Approve GOP Tax Reform Bill
December 22, 2017 at 11:41 am

Welcome back to #NPPTrendingNow, a weekly video series where NonProfit PRO Editor-in-Chief Nhu Te breaks down the top three coveted stories of the week. Here's what we've got going on for you this week: the Republican tax reform bill, frequently asked questions about tax letters and why the tax deduction motivates giving...

Nonprofits Have More Reason to Rejoice This Holiday Season
December 21, 2017 at 10:51 am

#GivingTuesday on Nov. 28 was an extraordinary fundraising event for nonprofit organizations—from community groups to international charities— with charitable giving totaling over $274 million...

Senate Approves GOP Tax Plan (and How This Affects Nonprofits)
December 20, 2017 at 12:16 pm

In an interview with NonProfit PRO, Katie Leonberger, CEO of Community Resource Exchange (CRE), says that the implications to nonprofits can be dependent on whether the organization's funding comes from government funding at federal, state or local level, or whether its funding comes from foundations and individual supporters, who may increase their giving in the short-term...