By NEO Law Group
When a nonprofit organization receives funding, it’s important for it to know if it should classify those incoming funds as receipts from a contract, or receipts from a grant. How the funds are categorized can lead to very different outcomes for the nonprofit organization. For example, the characterization will affect the category of expense or […]
The Accelerating Charitable Efforts Act (“ACE Act”) is creating quite a stir among nonprofits and leaders in or advising the sector. The TL;DR version of the controversy: the increase in the funds donated to the charitable nonprofit sector resulting from donor advised funds (DAFs) either offsets or fails to offset the problems associated with (1) […]
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Two explosions killed dozens of people, including at least 13 U.S. troops, ripping through the crowds outside Afghanistan’s main airport on Thursday, just hours after Western governments had warned of […]
Earlier this year, the IRS released a private letter ruling (PLR 202119002) on a private foundation’s contemplated grants to three foreign organizations that will each regrant the applicable funds to secondary grantees in furtherance of the private foundation’s 501(c)(3) exempt purposes. While a PLR may not be relied on as precedent by other taxpayers or […]
Georgetown Law held its 38th Annual Representing and Managing Tax-Exempt Organizations conference (virtual edition) last week. Among the sessions at the conference was a perennial favorite: Update on Key Current Developments presented by exempt organizations attorney Bruce Hopkins. Below are some of the many highlights from his presentation: IRS TE/GE FY 2021 Program Letter IRS […]
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “In 24 hours, Congress reconvened in a Capitol breached and battered by a pro-Trump mob, formalized Mr. Biden’s victory over the objections of more than 100 Republican lawmakers and found […]
2020. A devastating year for so many. But it will also be remembered as an inevitable one that forced us to confront some long-standing problems. Here is our list of 10 significant news events of 2020 affecting the nonprofit sector in the United States: COVID-19 (more than 325,000 deaths and 18 million cases in the […]
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “President Trump effectively surrendered his three-week protest of the election results Monday by submitting to the government’s official transition to the incoming Biden administration, bowing to a growing wave of […]
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Joseph Robinette Biden Jr. was elected the nation’s 46th president Saturday in a repudiation of President Trump powered by legions of women and minority voters who rejected his handling of […]
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “The United States, after battling the coronavirus for eight months, recorded over 99,000 new cases on Friday, a global record. Two dozen states reported their worst weeks for new cases; […]