Under § 170(c) of the Internal Revenue Code of 1986 as amended (the “Code”), a U.S. taxpayer may only claim a deduction on his or her federal income tax return for contributions made to 501(c)(3) charitable organizations...more
The past year has hit many nonprofit organisations registered in England and Wales particularly hard because of both the COVID-19 pandemic and Brexit. Funding from European sources may have been reduced or withdrawn, and many...more
Operating in China just became a bit more complex for foreign nongovernmental organizations (NGOs). China’s new “Law on the Management of Foreign Non-Governmental Organizations’ Activities within Mainland China”, which was...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
Investment funds, including private equity funds, often receive capital contributions from tax-exempt organizations. These tax-exempt institutions may include U.S. and foreign pension funds, as well as U.S. and foreign...more
The Government has Passed the Charities Act – Finally a Statutory Definition of Charity - Following public consultation in 2011 and earlier this year, the Federal Government passed the Charities Act 2013 (Act) and...more