WETM-2 TV reported that several local nonprofit organizations will receive a substantial financial boost, thanks to the generosity and foresight of an anonymous donor. In all, eight organizations and programs will equally share a more than $2-million bequest from an individual estate, each receiving about $250,000.
Some of the local beneficiaries include 171 Cedar Arts Center, United Way of the Southern Tier, Southern Tier Hospice, and the Southeast Steuben County Library. The organizations respect the donor's desire to remain anonymous, yet wish to publicly acknowledge the generous act.
Wednesday, July 21, 2010
Monday, July 19, 2010
National Council of Nonprofits Updates for Your Nonprofit
Five Worst Government Contracting Abuses
Late payments for contracted services is only one of many ways that governments shortchange nonprofits and exploit the contracting relationship. See the five worst government contracting abuses and let us know if you can add further documentation, if you've seen worse, or if you know of solutions in your state that help prevent these and other abuses.
Hearing to Consider Gulf Coast Need for Charitable Assistance
Viewing the impact of the Gulf oil spill on people in the region, Congress is asking "what needs to be done and how the charitable sector and others can reach out to these communities and help." The Oversight Subcommittee of the House Ways and Means Committee has scheduled a hearing for Tuesday, July 20, to consider these questions and examine how donations contributed to charities are being used. In announcing the hearing, Chairman John Lewis (D-GA) stated, "This is the moment when government must rely on charitable organizations to fulfill their missions and address these urgent needs."
Rival Estate Tax Revisions Proposed
The estate tax expired at the end of 2009, but will snap back automatically in 2011 to a 55 percent tax rate with a $1 million exemption unless changes are made. Senators are proposing rival plans to weaken or strengthen the federal tax on estates. Sens. Blanche Lincoln (D-AR) and Jon Kyl (R-AZ) introduced a measure last week to set the estate tax rate at 35 percent, with a $5 million exemption phased in over 10 years and indexed for inflation. Sen. Bernie Sanders (I-VT) recently introduced the Responsible Estate Tax Act, S.3533 to set an exemption of $3.5 million and impose tax rates from between 35 percent and 55 percent based on the size of the estate above the exemption level. Senate Majority Leader Harry Reid (D-NV) has said that he does not intend to allow any estate tax votes in the coming weeks, but he continues to negotiate with the Republican Leader, Sen. Mitch McConnell (R-KY), on the Senate schedule and amendments.
Financial Regulatory Reform Enacted, Cuts Debit Card Fees
Last week the Senate passed and sent to President Obama the Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R.4173). The measure imposes new restrictions on risky financial investments, creates a Consumer Financial Protection Bureau within the Federal Reserve, and allows the Federal Reserve to regulate the amount of fees that nonprofits and merchants can be charged for debit card transactions. President Obama is expected to sign the bill this week.
Nonprofit Sector Act
Federal Data of "Uncertain Quality"
The case for the Nonprofit Sector and Community Solutions Act, H.R. 5533, was made recently by SubsidyScope, a program of Pew Charitable Trusts. In seeking to analyze the effects of tax subsidies and federal grants, the authors reached the following conclusions:
"It is challenging to assemble and present spending and subsidy data regarding the nonprofit sector because the federal government does not identify nonprofits as a distinct budget category. Further, federal budget data are of uncertain quality; specifically, the data available through USAspending.gov are incomplete because certain program information is missing for a number of records, making it difficult to discern which specific agencies and programs may be awarding funds to nonprofits."
A key component of H.R. 5533 is to overcome the data challenges that SubsidyScope, and many other nonprofit researchers, have identified.
IRS Seeks Comments on New Disclosure Requirement
The health care reform law enacted earlier this year requires nonprofits and businesses, starting in 2012, to report aggregate payments to vendors in excess of $600 for goods and other property. The requirement applies for payments to all vendors, not just those related to health care. Currently, nonprofits and others are required to file Form 1099s for payment of services by independent contractors, but not for goods from vendors. The IRS is seeking public comment on how to most effectively carry out the law change, with the stated goal of minimizing burdens and avoiding duplicate reporting. The deadline for comments is Sept. 29, 2010. Please share this information with your accounting and operations personnel and send the National Council your ideas on how best to limit the impact of this new reporting requirement.
Late payments for contracted services is only one of many ways that governments shortchange nonprofits and exploit the contracting relationship. See the five worst government contracting abuses and let us know if you can add further documentation, if you've seen worse, or if you know of solutions in your state that help prevent these and other abuses.
Hearing to Consider Gulf Coast Need for Charitable Assistance
Viewing the impact of the Gulf oil spill on people in the region, Congress is asking "what needs to be done and how the charitable sector and others can reach out to these communities and help." The Oversight Subcommittee of the House Ways and Means Committee has scheduled a hearing for Tuesday, July 20, to consider these questions and examine how donations contributed to charities are being used. In announcing the hearing, Chairman John Lewis (D-GA) stated, "This is the moment when government must rely on charitable organizations to fulfill their missions and address these urgent needs."
Rival Estate Tax Revisions Proposed
The estate tax expired at the end of 2009, but will snap back automatically in 2011 to a 55 percent tax rate with a $1 million exemption unless changes are made. Senators are proposing rival plans to weaken or strengthen the federal tax on estates. Sens. Blanche Lincoln (D-AR) and Jon Kyl (R-AZ) introduced a measure last week to set the estate tax rate at 35 percent, with a $5 million exemption phased in over 10 years and indexed for inflation. Sen. Bernie Sanders (I-VT) recently introduced the Responsible Estate Tax Act, S.3533 to set an exemption of $3.5 million and impose tax rates from between 35 percent and 55 percent based on the size of the estate above the exemption level. Senate Majority Leader Harry Reid (D-NV) has said that he does not intend to allow any estate tax votes in the coming weeks, but he continues to negotiate with the Republican Leader, Sen. Mitch McConnell (R-KY), on the Senate schedule and amendments.
Financial Regulatory Reform Enacted, Cuts Debit Card Fees
Last week the Senate passed and sent to President Obama the Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R.4173). The measure imposes new restrictions on risky financial investments, creates a Consumer Financial Protection Bureau within the Federal Reserve, and allows the Federal Reserve to regulate the amount of fees that nonprofits and merchants can be charged for debit card transactions. President Obama is expected to sign the bill this week.
Nonprofit Sector Act
Federal Data of "Uncertain Quality"
The case for the Nonprofit Sector and Community Solutions Act, H.R. 5533, was made recently by SubsidyScope, a program of Pew Charitable Trusts. In seeking to analyze the effects of tax subsidies and federal grants, the authors reached the following conclusions:
"It is challenging to assemble and present spending and subsidy data regarding the nonprofit sector because the federal government does not identify nonprofits as a distinct budget category. Further, federal budget data are of uncertain quality; specifically, the data available through USAspending.gov are incomplete because certain program information is missing for a number of records, making it difficult to discern which specific agencies and programs may be awarding funds to nonprofits."
A key component of H.R. 5533 is to overcome the data challenges that SubsidyScope, and many other nonprofit researchers, have identified.
IRS Seeks Comments on New Disclosure Requirement
The health care reform law enacted earlier this year requires nonprofits and businesses, starting in 2012, to report aggregate payments to vendors in excess of $600 for goods and other property. The requirement applies for payments to all vendors, not just those related to health care. Currently, nonprofits and others are required to file Form 1099s for payment of services by independent contractors, but not for goods from vendors. The IRS is seeking public comment on how to most effectively carry out the law change, with the stated goal of minimizing burdens and avoiding duplicate reporting. The deadline for comments is Sept. 29, 2010. Please share this information with your accounting and operations personnel and send the National Council your ideas on how best to limit the impact of this new reporting requirement.
Friday, July 9, 2010
Call for Action on Charitable Giving Change in NYS
NYCON has added it's voice to those of other nonprofit leaders taking a stand against the proposed change to charitable deductions for high income individuals in New York State.
The proposal would result in a 50% decrease in the deductibility of charitable gifts from higher income donors. Already, earners of $1 million or more can only claim 50% of their contribution as a deduction. This proposal would allow donors earning $10 million or more to claim just 25% of their contribution. NYCON is also concerned that this may potentially be the start of eroding charitable deductions in general.
We are urging our members to learn more about this proposal by reading the following articles by the New York Nonprofit Press, The Daily News, and the Chronicle of Philanthropy.
Then, please join us in adding your voice to the memo of opposition by contacting us via email or calling Doug Sauer, CEO at (800) 515-5012 ext. 103.
Contact NYCON and sign onto the Memo of Opposition.
Contact your Senator. Click here for a searchable database of representatives.
The proposal would result in a 50% decrease in the deductibility of charitable gifts from higher income donors. Already, earners of $1 million or more can only claim 50% of their contribution as a deduction. This proposal would allow donors earning $10 million or more to claim just 25% of their contribution. NYCON is also concerned that this may potentially be the start of eroding charitable deductions in general.
We are urging our members to learn more about this proposal by reading the following articles by the New York Nonprofit Press, The Daily News, and the Chronicle of Philanthropy.
Then, please join us in adding your voice to the memo of opposition by contacting us via email or calling Doug Sauer, CEO at (800) 515-5012 ext. 103.
Contact NYCON and sign onto the Memo of Opposition.
Contact your Senator. Click here for a searchable database of representatives.
Monday, July 5, 2010
Director of Development and Marketing for The Kitchen Theatre Company
The Kitchen Theatre Company seeks a Director of Development & Marketing. Seeking a candidate who will join the team to lead the Kitchen Theatre Company’s efforts in fund raising, marketing and positioning the theater for the next steps as it relocates to a
newly renovated space. This new position will have the support of two full-time interns and the involvement of highly committed full-time staff. Successful candidate will have professional experience or education in the field of development and/or marketing.
Candidate must have excellent organizational skills, be able to manage multiple priorities, and work effectively under tight deadlines. Excellent verbal and writing skills are critical. This position requires a mature interpersonal style and a positive enthusiastic
attitude. Knowledge of the performing arts a plus. Experience with Microsoft programs and database management preferred. Opportunity for new-to-the-job-market go-getter or experienced professional. Flexible schedule can be discussed for experienced applicants.
Letters of inquiry and resumes should be sent to: Rachel Lampert, Artistic Director at Rachel@kitchentheatre.org
newly renovated space. This new position will have the support of two full-time interns and the involvement of highly committed full-time staff. Successful candidate will have professional experience or education in the field of development and/or marketing.
Candidate must have excellent organizational skills, be able to manage multiple priorities, and work effectively under tight deadlines. Excellent verbal and writing skills are critical. This position requires a mature interpersonal style and a positive enthusiastic
attitude. Knowledge of the performing arts a plus. Experience with Microsoft programs and database management preferred. Opportunity for new-to-the-job-market go-getter or experienced professional. Flexible schedule can be discussed for experienced applicants.
Letters of inquiry and resumes should be sent to: Rachel Lampert, Artistic Director at Rachel@kitchentheatre.org
Subscribe to:
Posts (Atom)
