The San Francisco Chronicle (November 13, 2008) reported that Supervisor Jake McGoldrick is seeking to limit salaries and benefits for executives of San Francisco-funded nonprofits to six times the total compensation of their lowest-paid full-time employee. The proposed law would only apply to how the nonprofit uses city dollars. There are about...
CURRENT AFFAIRS & OPINION
Priorities for a New President – Chronicle of Philanthropy
The November 13, 2008 edition of The Chronicle of Philanthropy included a very interesting special report "Priorities for a New President – Nonprofit leaders offer advice on what Barack Obama can do to aid charities and foundation." Offer Extra Tax Benefits for Gifts to Antipoverty Charities Create a Cabinet-Level Philanthropy...
IRA Charitable Rollover Extended
With the enactment of the Emergency Economic Stabilization Act of 2008 (commonly referred to as the "bailout") on October 3, 2008, the IRA Charitable Rollover has been extended retroactively to cover distributions made in 2008 and 2009. See my earlier post on the IRA Charitable Rollover here. See Independent...
33 Pastors Violate Ban on Electioneering
UPDATE: On September 28, 2008, 33 pastors from across the country endorsed candidates for political office, an activity which violates Section 501(c)(3) of the Internal Revenue Code and jeopardizes the tax-exempt status of their respective churches. This concerted effort was organized by the Alliance Defense Fund (ADF), a 501(c)(3)...
Senate Passes Tax Bill Extending Charitable Giving Incentives
On September 23, 20008, the Senate passed a tax bill which would extend the charitable IRA rollover and several others charitable giving incentives that terminated on December 31, 2007. The charitable giving provisions are just part of the $100 billion tax relief bill which would also spare 20 million...
Microphilanthropy
Microphilanthropy is a term that is being used more and more frequently. As one of the “top ten philanthropy buzzwords of 2007”, perhaps more attention needs to be paid to this emerging practice. The concept is similar to the notion behind the Grameen Bank. However, where microfinance talks of...
Growing Nonprofits Consider Increased Government Involvement
As the role of nonprofits in America grows, many of the organizations are lobbying for increased, revamped federal support. In its current form, the government offers no specialized agency catering to the interests of nonprofit organizations. Now, some nonprofit leaders like Steve Gunderson of the Council on Foundations and...
Leona Helmsley’s Estate Creates a Stir in Nonprofit Sector
Nearly everyone is familiar with hotel mogul Leona Helmsley’s $12 million trust she willed to her dog, Trouble. What most people are unfamiliar with, however, is that the rest of her $5 – $8 billion estate may be left to a charity supporting dogs in need. The New York...
IRS Releases Instructions to Redesigned Form 990
On August 19, 2008, the IRS released the revised instructions to the redesigned Form 990, which must be filed starting with tax years ending December 31, 2008. Click here for the press release. Click here for the instructions. Click here for three background documents related to the redesigned Form...
Foundation Center Report on Giving to California Communities of Color
The Foundation Center has produced a report, "Embracing Diversity: Foundation Giving Benefiting California’s Communities of Color," highlighting key findings from their recent studies on diversity in philanthropy in California. The series of studies conducted by the Foundation Center was commissioned by Northern California Grantmakers (in partnership with Southern California...