Tax, Legal & Compliance

Nonprofit revenue is one of the toughest challenges for organizations. If you’ve worked at a nonprofit, then you’ve participated in one of the continual discussions to come up with something creative.

Individual income tax deduction for charitable giving provides a substantial incentive to give by reducing the economic cost of donating. In 2018, charitable giving by individuals was estimated to reach $299 billion at an annual revenue loss of around $44 billion...

The majority of nonprofits must fill out a form 990 annually to maintain a tax-exempt status and remain compliant with state and federal regulations. While there are some select organizations that are not required to fill out these forms, the vast majority must do so as it’s their legal obligation...

Recently, the U.S. elevated its latest Supreme Court justice to the highest court in the land. While there has been a lot of debate about the rightward tilt of the Supreme Court and what that will mean for many aspects of our society, there is also a lot at stake for nonprofits and charitable giving...

The Tax Cuts and Jobs Act of 2017 dramatically changed the income tax laws for individuals and families in 2018. As a result, donors to charitable organizations may want to make some adjustments to their annual donations to maximize the income tax benefits of their charitable gifts. Before and after the tax act, donors who…

One of the most difficult concepts nonprofit leaders have been trying to comprehend in the last few months is the massive mess that is the new tax code. Before I get into nitty-gritty terminology of the new nonprofit law, let’s lay it all out with an easy and relatable 8-year old analogy: running a lemonade stand...

Humanwire said on its website that donations would go directly to needy refugees, and that “0 percent” would go to operating costs. The scam was exposed by an investigative report in the Denver Post, which chronicled a steady stream of withdrawals from Humanwire’s bank accounts by Andrew Baron...

What’s changed about the itemized deduction though? The biggest one that has left taxpayers “salty” is the capping of the State and Local Tax deduction at $10,000. To an 8-year-old, $10,000 probably seems like a fortune; after all, imagine the amount of video games one could buy with that! To bring it back to the analogy though, we can illustrate that it isn’t good for itemizers at all...

Okay, it’s confession time —I’ll go first. I consider myself to be a pretty bright guy; not Bill Nye the Science Guy smart, but more like Mr. Rogers smart (and not because I talk to puppets—I don’t). The thing that I struggle with though, to put it lightly, is a very challenged attention span...

Nonprofits are responsible for some of the most inspiring acts of goodwill that occur in our world, from offering aid during disasters to paying for children’s healthcare to feeding people in underprivileged communities. Keeping these organizations running smoothly is critical to society’s well-being and keeping up with nonprofit compliance is the key to success...