It is likely that videos of people dumping buckets of ice water on their heads has filled up your Facebook and other social media newsfeeds in the past few months. And not just anyone. Participants include Bill Gates, LeBron James, and Taylor Swift. So what’s it all about? In short, people are “nominated” to complete …
Posts Tagged: tax-exempt organizations
The NY Salary Cap Saga Continues
In April we told you that that the Nassau County State Supreme Court in New York ruled that Governor Andrew Cuomo had overstepped his authority when he issued an executive order putting a cap on executive salaries at state-supported nonprofits to $199,000 unless the charity secures a waiver from the state to pay more. Last …
A New Charity Reporting Option
There are many resources for finding out information about a nonprofit. The best option is to review an organization’s documents yourself. But if you don’t have time for that, where should you go for reliable reporting on nonprofits? The Direct Marketing Association Nonprofit Federation (DMA) is hoping you will turn to their new Nonprofit Dashboard. …
Should Your Nonprofit Accept a Donation to Build?
Is your nonprofit considering constructing a new wing or building based on receiving one substantial donation? Before it does, the board should consider all possible outcomes, including ending up in court. Helga Wall-Apelt, a former board member of Florida State University’s Ringling Museum of Art, contributed $6 million to the museum in 2006 for a …
Can Donors Trust 1023-EZ?
Donors rely on 501(c)(3) to indicate that an organization is carrying out charitable activities. But since the IRS released the streamlined exemption application (Form 1023-EZ), should they still do so? The National Taxpayer Advocate (TAS) is an independent organization within the IRS that helps taxpayers who are having trouble resolving problems with the IRS. On …
Another Win for NY AG Schneiderman
New York Attorney General Eric T. Schneiderman is following his big win earlier this month with a $522,000 pay out from a Brooklyn rabbi who collected hundreds of thousands of dollars for fake charities. Rabbi Yaakov Weingarten pled guilty in NY State Supreme Court to felony tax fraud for soliciting donations from thousands of donors …