Podcast: Tax Reform and Its Impact on Exempt Organizations, One Year In
Congress has officially passed the One Big Beautiful Bill Act, a sprawling piece of tax legislation with major implications for nonprofit organizations and their supporters. While some of the most controversial proposals were...more
On July 3, the House of Representatives approved “The One Big Beautiful Bill Act” as approved two days earlier by the Senate. The final version of the bill contains several provisions relevant to tax-exempt organizations. The...more
Georgia and Kentucky Allow Donor Standing for Endowment Violations - On April 9, 2024, Kentucky’s governor signed Senate Bill 70, which will take effect on July 15, 2024, and will amend Kentucky’s version of the Uniform...more
For many charitable institutions, accepting gifts subject to certain donor-imposed restrictions is in the normal course of business. While these restricted funds are quite common, their usefulness can occasionally become...more
Restricted funds are monies donated or bequeathed to a charity or non-profit organization such as a museum that come with limitations imposed by the donor on the investment, management or use of the funds. Examples include a...more
Nonprofit organizations with traditional reliance on event fundraising are now in a position to solicit donors in an alternate manner because of the COVID-19 pandemic. It is an opportune time to launch formal annual and...more
Charitable organizations work hard to maintain exempt status. These organizations operate in a highly regulated landscape: In exchange for enjoying freedom from income taxes, they must comply with strict organizational and...more