Your organization works hard and pays good money to follow the accounting rules – is it fair that Charity Navigator doesn’t? The charity evaluator uses metrics by which it analyzes and rates charities. These ratings are then viewed by thousands of potential donors. In an under-the-radar move, Charity Navigator recently revised its financial performance efficiency metrics to …
Posts Categorized: Donations
Madoffs Can't Even Give Their Money Away
When your organization accepts a donation, does it first consider the source of the donation? The Fidelity Charitable Gift Fund did just that when it turned down more than $250,000 in gifts last year from organizations founded by sons of Bernie Madoff. The Fund isn’t making public why it rejected the funds, but possible reasons …
Restrictions on Property Strike Again!
As we told you before, organizations and donors alike need to be careful when a contribution is made. We recently got another reminder on this. This time it wasn’t a true contribution, but a sale of real estate at a deeply discounted price. A land advocate, who died in 2005, sold the property to Johns …
Great News for Nonprofits with LLC Subsidiaries
501(c)(3) organizations frequently create single member limited liability companies to hold assets, some as subsidiaries to protect against risk. However, until now, the IRS would not state whether donations to these single member LLCs were deductible as charitable contributions. As of today, that has all changed. The IRS just released a notice that donations to …
LEARN THE LEGAL PITFALLS OF NON-PROFITS
Do you serve on a non-profit board? Or do you count non-profits among your clients? Charitable non-profits operate in a world of laws applicable only to them. The attorneys of the The Law Firm for Non-Profits will teach you how to spot potential legal pitfalls of non-profits before they erupt into disruptive legal problems or …
The Devil is in the Details
How carefully do you follow IRS rules when making a charitable donation? We’ve posted before about the importance of charities providing adequate acknowledgments to donors, but the duty isn’t just one-sided. If you are making a charitable donation, it is just as important for you to follow the rules. Wondering how bad it could be …