Here are the 6 draft principles falling within the category of "Facilitating Legal Compliance" developed by the Panel on the Nonprofit Sector’s Advisory Committee on Self-Regulation of the Charitable Sector: A charitable organization should be knowledgeable about and must comply with all applicable laws and regulations and international conventions....
CURRENT AFFAIRS & OPINION
Independent Sector: Draft Principles for Self-Regulation
The Panel on the Nonprofit Sector’s Advisory Committee on Self-Regulation of the Charitable Sector has developed a set of 29 principles of effective practice for charitable organizations. The Committee recommends that all charitable organizations aspire to follow these principles and that all larger public charities (annual revenues of at...
onPhilanthropy’s Top Ten Stories of 2006
Happy New Year! One of my resolutions for 2007 (yes, I’m one of those people who still make resolutions) is to elevate the frequency of postings on the Nonprofit Law Blog. My first post of 2007 is the following top ten list. onPhilanthropy’s Top Ten Stories of 2006 Warren...
Notice 2006-109 – Interim Guidance Regarding Supporting Organizations and Donor-Advised Funds
On December 4, 2006, the IRS released Notice 2006-109, which provides interim guidance on provisions of the Pension Protection Act of 2006 that affect supporting organizations and donor-advised funds. I expect to update this post to show the nonprofit sector’s responses to the interim guidance. Click here for the...
Chronicle Reports Congress Less Likely to Pursue Nonprofit Reforms
The Chronicle of Philanthropy (November 23, 2006) reported that with the next Congress, charities "are far less likely to face new regulations that govern their operations – and they will also have a tougher time persuading Congress to pass any new incentives to stimulate charitable giving." This widely-held opinion...
Chronicle Opinion: What the Election Results Mean to Nonprofits
The Chronicle of Philanthropy (November 8, 2006) published the opinion of Leslie Lenkowsy, a professor of public affairs and philanthropic studies at Indiana University, on the implications of the November 7 election on the nonprofit sector. Among what Professor Lenkowsy sees in her crystal ball: With respect to influencing...
Chronicle Reports IRS Taking a Tougher Stance on Charities
The Chronicle of Philanthropy (October 12, 2006) reports that the Exempt Organizations (EO) division of the IRS has added employees and shifted its approach to focus on greater enforcement. Among the observations from the Chronicle: In the past five years, the EO division has added about 100 full-time employees,...
Anti-Terrorist Guidelines: Revised Best Practices for Charities
The U.S. Department of the Treasury released a revised version of its Anti-Terrorist Financing Guidelines: Best Practices for U.S.-based Charities (the "Guidelines") on September 29, 2006. According to the accompanying Treasury press release, this latest version takes into consideration "the comments and suggestions provided by the public to assist...
New Nonprofit Law – IRA Charitable Rollover
Taxpayers 70½ years of age and older can make tax-free "qualified charitable distributions" of up to $100,000 annually from their IRAs (including Roth IRAs) in 2006 and 2007. A qualified charitable distribution is any distribution from an IRA directly by the IRA trustee to a public charity (or other...
New Nonprofit Law – Substantiation of Charitable Gifts
All cash gifts must be substantiated for a donor to take a charitable deduction. Substantiation may include a cancelled check or a written communication from the recipient charity showing the name of the charity, the date of the contribution, and the amount of the contribution. This new requirement, part...