Tax, Legal & Compliance

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...

Rules for Charitable Giving
October 12, 2017 at 1:27 pm

With the recent spate of natural disasters devastating communities both in the U.S. and abroad, many people turn to charities to see what they can do to help those affected by these tragic events. Over the past two decades, charitable giving has grown considerably in the U.S. The number of public charities is up almost 60 percent, from about 643,000 in 2000 to more than 1 million today... 

Tesco Criticized for Deducting £3.4M From Plastic Bag Tax Charity Donations
September 7, 2017 at 1:18 pm

Millions of pounds in administration costs were deducted from the charitable donations made by Tesco using funds generated from the plastic bag tax, government data has revealed. No other major supermarket made any such deductions, leading senior MPs to urge Tesco to follow their lead. The 5p charge for plastic bags was introduced in England…

Why Is Fair-Market Value So Difficult?
July 27, 2017 at 10:54 am

I had a math teacher in high school who, when asked questions about the basic rules of algebra, would answer, “It’s algebra. You don’t question why, you just do it according to the rules laid out.” A similar process is used when assessing and reporting Fair-Market Value—if a donor receives something from a nonprofit in exchange for their charitable donation...

Dentists Accuse Delta Dental of Violating Nonprofit Rules
June 22, 2017 at 12:21 pm

A group of dentists at odds with the Massachusetts' largest dental insurer are accusing the company of violating nonprofit rules and engaging in anticompetitive behavior, and they’re asking Attorney General Maura Healey’s office to investigate. The dentists detailed their complaints against Delta Dental of Massachusetts in an 11-page letter to Healey, penned by their lawyer, James…

Be Prepared for an Audit: Avoid These 4 Mistakes
June 15, 2017 at 12:00 pm

June to-do lists of most nonprofits are always focused on the financial preparations for the upcoming fiscal year. Yet, many still remain unprepared for the possibility of a future audit. To prevent being blindsided in the future, it would be beneficial for nonprofits to move some of their attention from this fiscal year to re-evaluating their organization’s workflow and infrastructure...

More Donors Starting Funds Rather Than Giving Directly to Charities
April 19, 2017 at 9:13 am

For the first time on record, the nonprofit that received the most in donations in the country is not what you typically think of as a nonprofit—and that has some in the nonprofit sector worried that the new model is upending traditional philanthropy. Giving accounts allow donors to get an immediate tax benefit when they…