Tax, Legal & Compliance

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…

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...

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…