Tax, Legal & Compliance

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...

Donor Intent: What It Is and Why It Matters
December 15, 2017 at 10:54 am

Years ago, Charles Francis “Chuck” Feeney, a successful Irish-American capitalist, philanthropist and the founder of The Atlantic Philanthropies decided to contribute a gift of $350 million to Cornell University. It was one of the many gifts he and The Atlantic Philanthropies were making while he was alive...

How the Proposed Changes in the Tax Code Could Impact Your Organization
November 30, 2017 at 12:29 pm

The end of the year is approaching and along with that, the traditional wave of last-minute, tax-deductible gifts from supporters. Or is it? This uncertainty around tax-deductible gifts isn't a commentary on the ever-fluctuating state of affairs at your organization or in our country, rather it’s about proposed changes to the tax code...

It’s Tax-Deductible—So What?
November 15, 2017 at 11:40 am

If passed this week, the new Republican tax legislation will “simplify” the tax code and increase the standard deduction; thereby reducing the number of people who itemize their taxes...