Posts Categorized: Charitable Deductions

Nonprofits Already Hit Hard by COVID-19

Even at this early stage in the COVID-19 pandemic, nonprofits are already reeling from its effects. And they promise to be devastating. It’s too soon to predict the ultimate impact, but it’s a fair projection that economic ruin will fell many organizations – unless they are saved by patrons funders and legislators. Performing Arts Hard …

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Retroactive Deductions for Philippines Relief Donations

The Philippines Charitable Giving Assistance Act, enacted March 25, 2014, allows taxpayers who make cash contributions on or before April 14, 2014 for Philippines typhoon relief to claim charitable deductions for the contributions on their 2013 returns. Eligible contributions may be claimed on either a 2013 or 2014 return, but not both. “Cash” contributions include …

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Charitable Deduction Under Attack – AGAIN

How much does your nonprofit rely on donations from wealthy individuals? Many nonprofit leaders are asking themselves that very question right now. Once again, calls from both Democrats and Republicans threaten to limit the charitable deduction. In his proposed budget for fiscal year 2015 (which starts October 1, 2015), President Obama caps all itemized deductions …

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How to Best Help Survivors of Typhoon Haiyan

Following the devastation wrought by Typhoon Haiyan, many are trying to figure out the most effective way to help. We’ll cut to the chase: it’s money. Often at times of disaster people want to donate new and used clothing, canned foods, and building supplies. Typhoon survivors need shelter, medicine, and food – NOW. They don’t …

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Extending Time for Charitable Donations

Have you ever experienced the anxiety of making all of your charitable donations before December 31? The Charitable Giving Extension Act, introduced by House Ways and Means Committee member Mike Kelly (R-Pa), would allow you to focus on present giving during December. The Act would allow individuals to treat charitable donations made until April 15 …

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How do You Measure a Nonprofit's Effectiveness?

Earlier this week, we blogged about a letter from three prominent organizations strongly refuting the use of overhead costs to measure a nonprofit’s effectiveness. But, in seemingly direct contradiction to this letter, a new Oregon law requires that nonprofits spend no less than 30% of their total annual expenses on charitable programs. Worst of all, …

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