As part of his 2010 budget plans, President Obama proposes to cap the tax rate at which high income taxpayers can take itemized deductions at 28 percent. This cap is projected to raise $318 billion over 10 years, which would help to fund the $633.8 billion reserve for health care reform. For more details and the...
San Francisco Foundation Center – Free Form 990 Seminar – March 17
My friend and tax-reporting expert Terry Miller is giving a FREE seminar on What Your 990 Says About You! The seminar will be held at the San Francisco Foundation Center Library on Tuesday, March 17 from 1:00 p.m. to 3:00 p.m. I urge all local charities who have not attended any seminars on...
L3C – Developments & Resources
The L3C (low-profit limited liability company), which was first enacted by Vermont (April 30, 2008), has acquired much attention and momentum in the last year. In the first months of 2009 alone, Michigan (Jan. 15, 2009), Wyoming (Feb. 4, 2009), and the Crow Indian Nation in Montana (Jan. 13, 2009)...
Social Enterprises – Resource List
Web Sites Social Enterprise Alliance Harvard Business School Social Enterprise Initiative REDF The npEnterprise Forum Social Venture Network Stanford Social Innovation Review Skoll Foundation Ashoka Reports Social Enterprise Typology, Kim Atler (2007) The Limits of Social Enterprise: A Field Study & Case Analysis, Seedco Policy Center (June 2007) Social...
Roundtable Series for Nonprofit Organizations – San Francisco Bay Area
The schedule for the Spring 2009 Roundtable Series for Nonprofit Organizations in the San Francisco Bay Area is available here. The Series has been designed to offer assistance to nonprofits with the issues they face on a daily basis. All roundtables in the Series are free of charge. The Series is...
Minimizing Financial Fraud
Despite the strong ethical culture of the nonprofit sector, the EthicsResource Center (ERC) has reported that financial fraud is more prevalent in nonprofits than for-profit businesses or the government. In their article, “Minimizing financial fraud” (Nonprofit Observer, Fall 2008), San Francisco Bay Area CPA Firm Lautze & Lautzeprovides a...
NCPGC Program on Social Enterprises – March 12, 2009
Exempt organizations attorney Sheila Warren and I will be presenting a program on social enterprises at the Northern California Planned Giving Council (NCPGC) luncheon program on Thursday, March 12, 2009. I hope to see some of our readers there! Online registration is available at the NCPGC site. Program Description: With...
Amateur Athletic Organizations
To qualify for 501(c)(3) tax exempt status, an amateur athletic organization must fall under one of three rationales endorsed by the IRS: An organization is educational by either teaching sports to youth or being affiliated with an educational organization. Such organizations may also provide facilities and equipment. An organization...
Fiscal Sponsorship: Six Ways to Do It Wrong
Fiscal sponsorship is the term used to describe a set of relationships between (1) an individual or group desiring to run a project that advances a tax-exempt purpose; and (2) a tax-exempt organization that is willing to serve as the project’s fiscal sponsor by conferring upon the project the benefit...
Avoid Common Accounting Missteps
In their Fall 2008 Nonprofit Observer publication, San Francisco Bay Area CPA Firm Lautze & Lautze offers advice on how to avoid 8 common accounting mistakes among nonprofits (summarized below): 1. Follow accounting procedures Every nonprofit, large or small, should establish a formal, documented, and detailed accounting process that...
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