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
BBA and the UK Cards Association have published a revised version of the Lending Code. This self-regulatory code sets standards of good practice when dealing with consumers, micro-enterprises and small charities in the UK for...more
When making grants to foreign organizations, private foundations must conduct costly and time-consuming expenditure responsibility, unless the foundation makes a good faith determination that the foreign organization is...more
The IRS released final regulations under Internal Revenue Code Sections 4942 and 4945 on September 25, 2015, specifically addressing grants by private foundations to foreign organizations. These final regulations are partly...more
For decades, charities in Pennsylvania have enjoyed an exemption from real estate taxation and sales and use taxes. Recently, several Pennsylvania appellate decisions have tightened that exemption. As a result, charities...more
Private Foundation Rules to Remember -
Private foundations must follow a variety of rules to avoid the imposition of potentially onerous penalty taxes on the foundation and its related parties...more
Political activities have been a hot topic for the CRA’s Charities Directorate in the last few years.
In the CRA’s 2015 Program Update, the Charities Directorate stated that its recent political activity audit included...more
While the IRS made only minor changes to Form 990, Form 990-EZ, and Form 990-PF for the 2014 tax year, the IRS made significant revisions to Schedule A. ...more
Pennsylvania charities that rely on exemptions from real property tax and sales and use tax may have good reason to be concerned. A recently released special report prepared by the Pennsylvania Auditor General quantifying...more
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
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
Canadian registered charities seeking to comply with Canada’s new anti-spam law (CASL) recently received some disappointing news. CASL is a very complex law and many important issues remain ambiguous and uncertain. Several...more
Forthcoming revisions to Form PC, examining new forms of solicitation using social media, and newly proposed legislation regarding director compensation were topics covered by Mary Beckman, Chief of the Massachusetts Attorney...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
Effective December 28, 2012, the IRS published final regulations on the qualification requirements for “Type III” supporting organizations (SOs), and issued temporary regulations that establish a payout requirement for...more
Employers wishing to provide disaster relief assistance have several tax-relief provisions available to them.
In the wake of Hurricane Sandy and the resulting destruction and devastation to the East Coast, many...more
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