The Stanford Project on the Evolution of Nonprofits (SPEN) presented a conference entitled “Managing Through Challenges: A Profile of Bay Area Nonprofits” on August 26, 2005. The corresponding report asserts that there are 9,856 nonprofits (defined narrowly to include only operating charities, supporting organizations and private foundations) in the...
Independent Sector Publishes “Checklist for Accountability”
On August 17, 2005, Independent Sector released a list of steps that charitable nonprofit organizations can take to help improve and demonstrate their accountability. The checklist, which incorporates recommendations made in the Panel on the Nonprofit Sector’s Final Report to Senators Charles Grassley and Max Baucus, Chair and Ranking...
Charitable Lead Trusts
Charitable Lead Trusts – A Brief Primer A charitable lead trust (CLT) is a split-interest trust in which the income interest is to be paid over to one or more charitable organizations and the remainder interest is to be paid over to one or more noncharitable beneficiaries. The CLT...
International Giving
A donor is not entitled to an income tax deduction for a charitable contribution to a foreign charity. See IRC Sec. 170(c)(2)(A). However, a donor may get an income tax deduction for a charitable contribution to a domestic charity even though all, or some portion, of the donated funds...
Disaster Relief
IRS. Publication 3833, Disaster Relief: Providing Assistance Through Charitable Organizations is the place to start for those interested in disaster relief efforts. One issue that often arises is whether the "charitable class" to be benefited by the charitable organization engaging in disaster relief efforts is large and/or indefinite enough...
Office of Tax Policy and IRS 2005-2006 Priority Guidance Plan
The Treasury Department and Internal Revenue Service released their 2005-2006 Priority Guidance Plan on August 8, 2005. The following is from the short section on Exempt Organizations: EXEMPT ORGANIZATIONS 1. Guidance on donee reporting for car donations.2. Guidance on downpayment assistance organizations.3. Regulations under sections 501(c)(3) and 4958 on...
San Francisco Business Times Corporate Philanthropy Summit & Awards – July 21, 2005
Mary Huss, Publisher of the San Francisco Business Times, announced the top 60 corporate giving programs ranked by cash contributions to Bay Area nonprofits. The top twenty: 1. Wells Fargo & Co. 2. Intel Corp. 3. Bank of America Corp. 4. Chevron Corp. 5. ...
Online Privacy Protection Act – California
The Online Privacy Protection Act of 2003 (codified in Cal. Bus. Code Secs. 22575-22579), made operative as of July 1, 2004 (and amended in 2013), requires an owner of a commercial website or online service (“operator”) that collects personally identifiable information through the internet about individual California resident consumers...
Substantiation – Donor’s Requirements
Contributions of Less Than $250:If contribution of money, donor must keep proper records: (1) canceled check; (2) receipt; or (3) reliable written record (including name of donee, date of contribution, amount of contribution). Sec. 1.170A-13(a). If contribution of property, donor must maintain a receipt from donee showing the following...
Reporting and Disclosure of Contributions – Charity’s Requirements
For Disposition of Charitable Deduction Property Within 2 Years of the Contribution Date: IRS Form 8282 must be filed within 125 days after the date of disposition (i.e., sale, exchange, consumption or other disposition) unless: (1) at the time the donee charity signed the donor’s Appraisal Summary (Section B...