News & Analysis as of

Reporting Requirements Charitable Organizations

Nutter McClennen & Fish LLP

The Real Impact (Spring 2025)

Drinking From the D.C. Firehose: 10 FAQs for Charitable Organizations and Their Donors....more

Partridge Snow & Hahn LLP

A Break for Massachusetts Nonprofits: Lowering the Demand for Financial Reporting and Providing Incentives for Board Members to...

The Massachusetts legislature and Governor Healey recently passed into law An Act Relative to Strengthening Massachusetts’ Economic Leadership (the “Act”).  The Act provides significant changes in the nonprofit space which...more

Clark Hill PLC

The Corporate Transparency Act's Impact On Charities and Tax-Exempt Entities (Updated)

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The Corporate Transparency Act (the “CTA”) became effective Jan. 1, 2024. The CTA’s goal is to reduce money laundering and other financial crimes by requiring the reporting of ownership and control information of businesses...more

Rivkin Radler LLP

Hospitals and Community Benefit: Senators See a Shortfall

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For many weeks, we’ve been hearing about the IRS’s plans to use the funding provided under the Inflation Reduction Act[i] to increase and expand its compliance and enforcement efforts with respect to the wealthy, high-income...more

Venable LLP

[Webinar] Grant Agreements: What to Include and What to Look Out For - January 26th, 12:30 pm - 1:30 pm ET

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As charitable grant making becomes more sophisticated and program oriented, granting organizations are employing increasingly complex and comprehensive grant agreements. In addition to standard terms describing grant amounts...more

Verrill

Charitable Promotions, Commercial Co-Ventures, Donors Choose, Round-Up, and Peer-To-Peer Solicitations

Verrill on

It’s not often that you get BIG news in Charitable Promotions Law. But last year, California passed a comprehensive law that goes into effect on January 1, 2023. ...more

Society of Corporate Compliance and Ethics...

[Virtual Event] Nonprofit Sector Compliance Conference - May 24th, 9:00 am - 4:00 pm CDT

Get the support you need to properly manage key nonprofit compliance challenges - Nonprofit organizations often find themselves vulnerable to unique fraud and conflict of interest concerns. This one-day virtual conference...more

McDermott Will & Emery

NFTs and Charitable Fundraising: Navigating Tax Hurdles

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As the creation of and transactions involving non-fungible tokens (NFTs) have increased dramatically, so has interest in using NFTs as donations to charitable organizations and for other charitable fundraising tools. Given...more

Bowditch & Dewey

Tax Tips for GoFundMe Donors and Organizers

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Since January of 2020, over 175,000 COVID-19 related GoFundMe campaigns were created, raising more than $416 million. While donors may be feeling charitable, they should know that their contributions are likely not...more

McDermott Will & Emery

Special Report - A Primer on Charitable Contributions of Virtual Currency

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The explosive growth in virtual currency (also referred to as cryptocurrency, digital assets, tokens and digital currency) is evidence of increasing popularity and acceptance of it as a new investment asset class. With the...more

Lippes Mathias LLP

New York Nonprofits: Action Required for New Reporting Requirements

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Effective January 1, 2021, New York nonprofits are required to make annual filings with the Department of State.  These annual filings must be made in addition to the annual reports made to the Attorney General Charities...more

Goodwin

OCC Proposes Rules for CRA Benchmarks and Fair Access

Goodwin on

In the News. The Office of the Comptroller of the Currency (OCC) issued a long-awaited rule seeking comment on its proposed approach to determine the Community Reinvestment Act (CRA) evaluation measure benchmarks, retail...more

Society of Corporate Compliance and Ethics...

[Virtual Event] Nonprofit Sector Compliance Conference - November 5th, 9:20 am - 3:30 pm CST

The charitable organization sector faces many compliance challenges, including: - unique tax exemption issues - fundraising registration and related issues - privacy and data security - complex reporting...more

Proskauer - Blockchain and the Law

IRS Issues New Guidance for Virtual Currency Donations

The U.S. Internal Revenue Service (IRS) quietly added two new questions and answers regarding virtual currency donations to its answers to Frequently Asked Questions on Virtual Currency Transactions (FAQs) on December 26,...more

Hutchison PLLC

So You Think You Want to Operate a Charity in California?

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Subject to a limited set of exceptions, operating a charity in California that solicits and receives charitable contributions from California residents comes with a litany of somewhat onerous legal hurdles. The operation of...more

Snell & Wilmer

Don’t Risk Losing Your Property Tax-Exempt Status - File Affidavit by March 1

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Arizona’s ad valorem property tax exemptions that are granted to many categories of exempt organizations (e.g., healthcare centers and institutions, arts and science organizations, and charitable community service providers)...more

Coblentz Patch Duffy & Bass

IRS Publishes New Gift Substantiation Regulations

Last month, the IRS issued final regulations entitled “Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions,” codified as Treasury Regulation Sections 1.170A-15 (cash), -16...more

Farella Braun + Martel LLP

Looming Registration and Reporting Deadlines for Nonprofit Raffles: September 1 and October 1

Many charities embrace raffles as a fun and lucrative way to raise money. A lot of them aren't aware that raffles constitute illegal gambling, unless the requirements of the Penal Code are met. If not, the charity is...more

Best Best & Krieger LLP

Charitable Hospital Organizations and the Affordable Care Act

The IRS has issued final regulations providing guidance on certain complex requirements imposed on charitable hospital organizations added by the Patient Protection and Affordable Care Act of 2010. Specifically, the...more

Baker Donelson

IRS Issues Final Regulations for Charitable Hospitals

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On December 29, 2014, the Internal Revenue Service and the Department of Treasury issued final regulations on requirements described in Section 501(r) for charitable hospitals exempt from federal income tax under Section...more

Nossaman LLP

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

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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

Cadwalader, Wickersham & Taft LLP

Nonprofit Revitalization Act Of 2013 -- Best Governance Practices Made Mandatory

On December 18, 2013 Governor Cuomo signed into law the Nonprofit Revitalization Act of 2013 (the “Revitalization Act”), Assembly Bill Number 8072; Chapter 549 of the Laws of 2013. Intended “to reduce unnecessary and...more

Saul Ewing Arnstein & Lehr LLP

Tax-Exempt Hospitals: IRS Issues Proposed Revenue Procedure to Correct and Disclose Failure to Meet 501(r) Requirements

The Internal Revenue Service (“IRS”) on December 30, 2013 issued a proposed revenue procedure that outlines steps to correct and disclose failures to meet the requirements of new section 501(r) of the Internal Revenue Code...more

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