On October 14, 2014, Governor Corbett signed H.B. No. 359 into law, changing the due dates for certain fundraising registrations required under Pennsylvania law. These changes take effect 60 days after the...more
The City of Philadelphia (the “City”) recently adopted two bills related to the revenue the City generates from nonprofit organizations. In its summary statement on tax reform regarding nonprofits, the City states that these...more
In the last two weeks, both the IRS and Congressional officials announced major milestones in the increasing regulatory focus on colleges and universities.
First, the IRS emphasized misreported taxable income and...more
There are a variety of vehicles through which individuals and families can promote their charitable giving goals, and private foundations are often a leading choice. Simply stated, a private foundation is a type of charitable...more
As we move into the height of this year’s charitable giving season, we respectfully remind our clients of the IRS’ very strict view, and recently reiterated emphasis, on providing donors with proper paperwork substantiating...more