Tax, Legal & Compliance

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...

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...

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...

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...

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.…

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…

Earlier last month, the Center for Public Integrity (CPI) did some solid investigative work and slammed the Virginia-based veteran charity Circle of Friends for American Veterans (CFAV)...

#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...

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...

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...