Nonprofits General Business

Read need-to-know updates, commentary, and analysis on Nonprofits issues written by leading professionals.
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IRS Issues Regulations Affecting Compensation Arrangements at Tax-Exempt Organizations

On June 21, the IRS issued long awaited proposed regulations under Section 457 of the Internal Revenue Code that affect a broad range of compensation arrangements at tax exempt organizations. If a compensation arrangement is...more

Flexibility Offered for Deferred Compensation Plans of Tax-Exempt Organizations, Government Agencies

The U.S. Treasury Department has issued two sets of proposed regulations, under Sections 457 and 409A of the Internal Revenue Code, relating to deferred compensation plans of state and local governments and tax-exempt...more

New York State Announces Broad Set of Ethics and Campaign-Finance Reforms

Late last week, New York Governor Andrew Cuomo and State legislative leaders announced agreement on a broad set of ethics and campaign-finance reforms focused on increased disclosure, transparency, and public trust....more

Red Notice Newsletter - May 2016

ANTICORRUPTION DEVELOPMENTS - Former Securency Manager Convicted of Corruption - On May 11, 2016, Peter Michael Chapman, former manager of polymer banknote manufacturer Securency PTY Ltd. (“Securency”), was...more

Arrested Development: Fighting fraud & corruption in international aid

The following interview is with Oliver May. RB: Oliver, you’ve been specialising in how corruption affects aid organisations. Perhaps you could tell us a little about your background and how you got into that? OM:...more

Managing Cybersecurity Risk for Nonprofit Organizations: A Fiduciary Duty?

We live in an era of increasingly prevalent cybercrime, and nonprofits are in the crosshairs.  Harvard University, Penn State University and two BlueCross BlueShield entities are just a few nonprofit organizations that...more

New York Non-Profit Revitalization Act Reforms Governance Rules for Nonprofits

Signed into law in 2013, the New York Non-Profit Revitalization Act is designed to reform the statutory requirements for governance of nonprofit organizations (both not-for-profit corporations and wholly charitable trusts),...more

Crowdfunding, Online Payments, and Charitable Fundraising

Nonprofits engaged in fundraising from the general public have been “crowdfunding” for centuries! Now, however, there is a profusion of online crowdfunding platforms of different types, each with its own benefits and...more

Trust as a Fig-Leaf of Poor Compliance and Management

Trust is an important, nurturing presence in the workplace. There is a level of trust inherent in all controls, and NGOs are often dependent on trust, especially in emergency operations, distant field offices, and when...more

"FEC Dismisses Wal-Mart PAC Match Case"

The Federal Election Commission (FEC) recently dismissed a complaint filed against Wal-Mart Stores, Inc. and its political action committee (PAC), finding that Wal-Mart's 2-for-1 PAC match program did not violate federal...more

Recent Amendments to the Nonprofit Revitalization Act of 2013

On October 26, 2015 and December 11, 2015, Governor Cuomo signed into law certain clarifying amendments (the “Amendments”) to the provisions of the New York Not-For-Profit Corporation Law that were enacted as part of the...more

The Three Most Important Provisions for S Corporations Under PATH Act

It has become a tradition that at the end of each year, Congress passes legislation to extend previous legislation. In late 2015, Congress passed Public Law 114-113, which contains the Protecting Americans from Tax Hikes Act...more

Congress Forges PATH in Tax Laws for Business, Individuals

Congress has avoided a government shutdown by agreeing to a new budget in its Consolidated Appropriations Act, and the adopted legislation [cynically named the Protecting Americans From Tax Hikes (PATH)], includes some...more

Putting Food Donation Liability Protection Laws to Use

Although many of us will share a bountiful table of food with loved ones this holiday season, there are many for whom putting food on the table is a struggle (and not just during the holidays). At the same time, 40% of food...more

Is Your Charitable Contribution Safe?

In a soon-to-be-released article, Charities in Financial Distress: The Impact of Bankruptcy on Donor-Restricted Funds, Richard Fox, Jonathan Blattmachr, and Benjamin Bolas explore one aspect of bankruptcy filings by...more

Nonprofit Revitalization Act Employed Board Chair Prohibition Delayed to 2017

On October 26, 2015 Governor Cuomo signed into law Chapter 388 of the Laws of New York of 2015 (Assembly Bill A7641/Senate Bill 5738) delaying from January 1, 2016 to January 1, 2017 the effective date of the provision of the...more

Spotlight On Alabama: A Busy Tax Year in Review

It has been a busy year for developments in Alabama state taxation. In this tax alert we review many of the significant developments that have occurred over the last 12 months....more

[Webinar] How to Survive the Attorney General Hospital Sale Approval Process - Oct. 21st, 9:00am PDT

California law requires nonprofit hospitals who want to sell, join a system, or cede control to another to provide an extensive written notice and seek the approval of the California Attorney General. This webinar will...more

California Clarifies Investment Standards for Public Benefit and Religious Corporations

Without a lot of fanfare, the California State Legislature recently passed a bill that seeks to provide some clarity for charities as to how they are supposed to invest their assets. ...more

Health care consolidations: Complex maneuvers in a high-stakes environment

In today’s shifting health care landscape, providers are consolidating and forming strategic partnerships that position them to offer comprehensive, high-quality services at reasonable costs....more

IRS Publishes Final Regulations for Equivalency Determinations

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

FOS feeds back on complaints obligations for NFP

FOS has published its feedback statement to responses on its consultation on amendments to its standard terms affecting businesses subject to the voluntary jurisdiction (see FReD 21 August 2015). The responses received were...more

FASB Defers Effective Date of New Revenue Recognition Standard

Audit committees, CFOs and accountants everywhere are cheering as the FASB has deferred the effective date of its new revenue recognition standard. As a result, public business entities, certain not-for-profit entities, and...more

Co-branding Credit Cards with Charities: Commercial Co-Venture Issues

A cobranded credit card program in which the “merchant” is in fact a charity may be subject to special rules relating to the regulation of “commercial co-ventures” (also known as “cause-related marketing”). Issuers and...more

Regulators' Actions Against Charities that Swindled $187 Million from Donors Serve as Compliance Reminder

On May 18, 2015, the Federal Trade Commission (FTC) and 58 agencies from all 50 states and the District of Columbia filed a complaint charging four cancer charities and the individuals controlling them with allegedly...more

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