Charitable Donations

News & Analysis as of

A Tax Incentive for Oregon’s Artists to Donate Their Work

Oregon tax law, unlike federal tax law, gives an incentive to Oregon resident artists to donate their own artwork to charities. In general, when an artist donates her art, and has obtained an appraisal, she can deduct the...more

Do Good Deeds, Go Unpunished: Legal Pitfalls And Practice Tips For Cause Marketing

“Join in the fight against breast cancer!” Each October, store shelves are filled with pink products and pink packaging in honor of Breast Cancer Awareness Month. Businesses across a variety of industries solicit...more

Charitable contributions and the FCPA – 6 simple steps to help ensure your company is giving responsibly

As part of the growing culture of corporate social responsibility, many companies seek to give back to the communities in which they conduct business. But when the charitable giving takes place outside the United States,...more

Booster Club's Revenues: Supportive of a Charity or Reducing Parental Obligations? - Tax Court Finds Substantial Private Inurement...

Booster clubs have long been used as fundraising arms for affiliated sports organizations. Establishing a booster club as a 501(c)(3) public charity provides the added benefit of enabling contributors to booster clubs to...more

"The Estate Planner" – September/October 2014

In this issue: - The True Cost Of Giving – Charitable Donations In A No-Estate-Tax Environment - Could An Exchange Help Cover LTC Insurance Costs? - Family Meetings Help Ensure Estate Planning...more

Legacy Gifting: Private Foundation vs. Philanthropic Fund

Are you considering making a significant charitable legacy gift? What type of vehicle should you use? Donors often have similar goals in mind — helping a charity dear to their heart and saving on taxes. However, donors may...more

Indiana Property Tax Rulings: Charitable Purpose Exemption For Rented Home And Duplex; Taxpayers Prevail With USPAP Appraisal,...

The following summaries of final determinations by the Indiana Board of Tax Review from the first half of 2014 were prepared by Noeli E. Serna, a 2014 summer associate at Faegre Baker Daniels who will be entering her second...more

For goodness sake! Taking cause-related marketing rules to heart

Whether it’s an organization that is close to the CEO’s heart, a response to a local tragedy, or a PR move to distract from some unpleasant news, there are times when extending a helping hand can also help a company’s bottom...more

Religious Institutions: August 2014

If the Internal Revenue Service (IRS) had a moratorium on enforcing §501(c)(3) electioneering restrictions against churches and religious organizations, the IRS states that it has been lifted incident to the settlement and...more

Charitable Planning with S Corporation Stock—Making It Work

Since 1998, charities have been able to own S corporation stock (“S stock”). However, the ownership of S stock by an exempt organization may result in either an unexpected tax burden or a liability rather than an asset for...more

Estate Planning Matters!

In This Newsletter: - When to Involve an Attorney in Your Charitable Giving - Big Changes to Minnesota Estate and Gift Taxes - Why You and Everyone You Know Needs an Estate Plan - Excerpt from...more

Real Estate Tip - Keep It in The Family?

Using a will to give a commercial building to a loved one, a business partner or even a charitable organization is not ideal planning. Adverse tax consequences, the public probate process and operational difficulties aside,...more

Benesch Perspectives - July 2014 Newsletter

In this issue: - Not-for-Profit Spotlight - Giving to Religion Trending Downward for a Decade - What You Can Learn from Giving 2014 - Is the Front Door Closing on the Parsonage...more

Enhancements to Florida's Solicitation of Funds Law Now Effective - Charities Now Have Tighter Regulations

In response to the Tampa Bay Times investigative story, "America's Worst Charities," Florida’s Commissioner of Agriculture, Adam Putnam, worked with the Florida Legislature to enact material enhancements to Florida's...more

What Donors Need to Know About Appreciated Property

Individuals considering gifts of appreciated property to charity should be aware that not all property donations are treated equally for income tax purposes. Depending on the class of property, prior use, the donor’s holding...more

For Love or Charity – A Charitable Bailout Using Charitable Remainder Trusts for the Sale of a C Corporation

I have personally observed in my professional travels that many taxpayers are reluctant charitable donors. However, we you remind a business owner that they only have three choices when it comes to taxes (1) Pay yourself;...more

Cutting Your Kids Out of $300MM: That Stings a Little

Legendary rock artist Sting recently acknowledged that his fortune of approximately $300MM will not be passing to his six children. In a recent interview with the U.K.’s Daily Mail, Sting said that he told his children not...more

Tax Reform Act of 2014: Potential Impact on Tax-Exempt Organizations

Many of the provisions in the proposed Tax Reform Act of 2014 (“TRA 2014”) released earlier this year would adversely impact tax-exempt organizations. For example, TRA 2014 would remove the long-time exclusion from unrelated...more

Reliance on Professional Advice Avoids Valuation Penalty

In Whitehouse Hotel Ltd Partnership v. Commissioner, No. 13-60131 (6/11/2014), the Fifth Circuit Court of Appeals vacated the Tax Court’s enforcement of a gross undervaluation penalty imposed on a taxpayer claiming a...more

New Non-profit Donor Disclosure Takes Effect July 1, 2014 for California Elections

On May 14, 2014, Governor Jerry Brown signed Senate Bill 27 (S.B. 27), increasing the disclosure requirements that non-profit "multipurpose" organizations are subject to when engaging in California elections. This legislative...more

Change In New York Law Affects New York Nonprofit Organizations And Wholly-Charitable Trusts, As Well As Other Charities...

The Nonprofit Revitalization Act of 2013 (“Act”), many parts of which are effective July 1, will affect New York nonprofit corporations and wholly-charitable trusts as well nonprofit corporations formed in other jurisdictions...more

Perspectives - June 2014

In This Issue: - Staying in Compliance While Giving or Receiving Electronic Health Record Systems - When Donations Cross the Line - House Bill 296 Signed into Law to Increase Access to Epinephrine Autoinjectors...more

New OIG guidance issued on independent charity patient assistance programs

On May 21, 2014, the Office of Inspector General (“OIG”) issued a Supplemental Special Advisory Bulletin (“Bulletin”) on independent charity patient assistance programs (“PAPs”). The Bulletin, which supplements the 2005...more

Is It a Violation to Help?

In a May 21, 2014, letter to the President of the American Hospital Association (AHA), U.S. Department of Health and Human Services (HHS) Secretary Kathleen Sebelius confirmed HHS’s position that private, not-for-profit...more

SJC Upholds Charitable Property Tax Exemption for Land Conservation Organization

On May 15, the Supreme Judicial Court released its opinion in New England Forestry Foundation v. Hawley, ruling that a 120-acre parcel of forest land owned by the Foundation in the Town of Hawley was eligible for the...more

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