US Congress continues to expand legislative action to address antisemitism. What began in the House of Representatives Committee on Education and the Workforce has expanded to a House-wide effort to combat antisemitism and...more
The Inflation Reduction Act of 2022 opened up many energy credit opportunities for tax-exempt organizations. Further guidance on the credit regime is anticipated in the coming months, which should help organizations determine...more
While none of the recent environmental, social, and governance (ESG) developments with respect to organizations under some sort of regulatory oversight—including public companies and retirement plans—is directly relevant to...more
The Internal Revenue Service (IRS) on October 9 released a denial letter issued to an organization seeking exemption under Section 501(c)(3) to operate a program to “to deploy capital into projects that promote a social good...more
Nonprofit organizations are on the front lines in the battle against the coronavirus (COVID-19), but they also number among the many victims of COVID-19’s devastating financial impact. In response, the Federal Reserve...more
11/6/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Reserve ,
Financial Stimulus ,
Infectious Diseases ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofit Organization Expanded Loan Facility (NOELF) ,
Nonprofit Organization New Loan Facility (NONLF) ,
Relief Measures ,
Special Purpose Vehicles
Nonprofit organizations are on the front lines in the battle against the coronavirus (COVID-19), but they also number among the many victims of COVID-19’s devastating financial impact. In response, the Federal Reserve...more
Private foundations may now own philanthropic businesses whose profits are dedicated to charity without the prohibitive excess business holdings tax. Newman’s Own Foundation was the proponent of recent legislation that allows...more
Tips on setting up a pooled fund of employee leave by giving employees the option of donating leave that can be converted into cash contributions to charities assisting the victims of Hurricane Harvey....more
A variety of tax-favored vehicles exist for employers and their employees to donate cash or even accrued leave to assist those impacted by Hurricane Harvey’s devastation....more
In a General Information Letter addressing the tax treatment of benefit corporations, the Internal Revenue Service (IRS) stated that a taxable benefit corporation may deduct payments to charities as business expenses (and...more
The new examples describe additional charitable purposes and PRI terms and structures.
On April 21, the Internal Revenue Service and Treasury Department issued final regulations regarding program-related investments...more
US House Committee on Ways and Means and US Senate Committee on Finance issue joint letter to colleges and universities with endowments greater than $1 billion.
On February 8, the US Senate Committee on Finance and the...more
Take note of these practical concerns for private foundations making grants to foreign organizations.
On September 25, the Internal Revenue Service (IRS) published final regulations for private foundations making good...more
New guidance permits private foundations to consider charitable purposes when making investments with a substantial purpose of capital appreciation or the production of income....more
ABLE Act establishes tax-free accounts that enable individuals with disabilities to invest with financial institutions without losing their government benefits.
U.S. President Barack Obama signed the Achieving a Better...more
Plan lays out the agencies' top priorities for the 2013–2014 fiscal year, including those affecting tax-exempt organizations....more
Senate Finance Committee issues tax reform paper setting forth challenges, goals, and possible measures affecting tax-exempt organizations and charitable giving....more
Report offers lessons for many tax-exempt organizations on unrelated business taxable income and executive compensation....more
Type III supporting organizations should take steps to comply with new regulations and funders should review due diligence procedures for grants made to these organizations.
On December 21, 2012, the Internal Revenue...more
From tax rates and tax extenders to the revival of the Pease limitation, the act includes a host of provisions affecting tax-exempt organizations....more
1/7/2013
/ Alternative Minimum Tax ,
American Taxpayer Relief Act ,
Charitable Donations ,
Estate Tax ,
Fiscal Cliff ,
Gift-Tax Exemption ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Pease Limitation ,
Portability ,
Tax Extensions