2/23/2012. Background on IRS Regulations. Miscellaneous IRS Issues/Concerns. Update on CASE Counting Guidelines
|
|
- Gillian Wilson
- 5 years ago
- Views:
Transcription
1 John Taylor Associate Vice Chancellor for Advancement Services & Interim Campaign Manager North Carolina State University Background on IRS Regulations What s a Quid and Does one Hurt? DAF and Family Foundation Issues Miscellaneous IRS Issues/Concerns Auctions Sponsorships Events Donor Control Gift Myths Update on CASE Counting Guidelines 2 IRS issued final and temporary regulations in 1995 to clarify(?) a clarification issued the previous year that clarified a new section of tax code IRS final FINAL regulations issued on 12/16/96 IRS clarification of the clarified clarification of the final regulations Revised IRS Publication 1771 (3/2002) And then they revised it again 7/2005! AND AGAIN 7/2007; AND AGAIN 3/2008; AND AGAIN 6/2010 Two primary areas of interest/concern: Written acknowledgement requirements; Value of Goods & Services (quid pro quo) 3 Required for all contributions of $250 or more in order to claim a charitable deduction. Canceled checks are no longer sufficient ABOVE this amount but ARE below! Absolutely, l positively, must issue a receipt for cash donations of any amount. Donor is responsible for obtaining. Substantiation to donor must be contemporaneous (typically mailed by 1/31). But must be received by the day they file their taxes. 4 1
2 Written acknowledgments must provide the amount contributed (or description, not value, of noncash property) and a statement indicating whether or not any goods or services were provided in exchange for the gift. Neither the donor SSN nor your tax ID are required Except for gifts of vehicles! Payroll Deductions - Only applies to single deductions of $250 or more. Not required, period, if employer evidences the amount withheld (pay stub) and provides a no goods or services statement (pledge card). No similar rules for other recurring gifts 5 6 Quid Pro Quo receipts are not required when: Fair market value of all benefits received in connection with the payment does not exceed the lesser of 2% of the gift amount or $99 (2012) Gift is $49.50 or more and the cost of all token benefits given does not exceed the IRS low-cost articles minimum of $9.90 (2012) For gifts below $49.50, RULE #1 APPLIES The only benefit the donor received consisted of token items bearing the institution s name or logo Quid Pro Quo receipt required: Gift exceeds $75 where part of the payment is for goods or services received, and part is a contribution. If payment is under $75, QPQ requirements still apply, just no mandated receipt. Disclosure must inform donor that the tax deductible amount is limited to the excess of the amount contributed over the value of goods or services provided. Must also provide donor with a good-faith estimate of the value of such goods or services
3 FMV Defined Low-Cost Defined 80/20 Rule Applications Which comes first, the benefit or the percent reduction? Other seating applications? And what about membership ($75 or less) benefits? Free or discounted admission Free or discounted parking Preferred access to and/or discounts on goods/services Check received from the Charitable Gift Fund of the Triangle Community Foundation, indicating that we should send an acknowledgment to Jane Smith (whose family also has a separate fund at TCF). Who is the legal donor: Jane Smith Charitable Gift Fund The Smith Family Foundation from whom we have previously received gifts Triangle Community Foundation 9 10 It Depends! It actually could be the Family Foundation (no such legal entity, BTW) or the Triangle Community Foundation, but is more likely a gift from a Donor-Advised Fund (Charitable Gift Fund) 11 A donor sends an asset to a qualified tax-exempt arm of an organization AS A DONATION TO THAT ENTITY The assets are now under the name, and control, of that entity The donor contacts the entity and ADVISES them to make a gift to a qualified nonprofit organization The entity is the legal donor BTW, why do donors give this way instead of directly to us? It s partly our fault! 12 3
4 Pledge Payments No Way!!!!!!!!! BTW, this is also true for gifts from Family (private) Foundations but for a different reason self-dealing 13 A charitable pledge is an obligation of the donor to give money or property to a charity at a future time. Where a charity (including a charitable organization of which a donor advised fund is treated as a component part) relieves a donor of a substantial obligation i by satisfying i the donor s pledge, the charity is providing the donor with an impermissible benefit. Accordingly, a donor s charitable pledge may not be fulfilled by a single payment or a series of payments from the charity. In other words it is income to the individual!!! 14 Attorney Statement Pertaining to Donor-Advised Funds: Gifts through donor advised funds should not be applied to satisfy pledges nor linked to a donor [other than perhaps to acknowledge a gift from a foundation at the direction of the donor]. Here are some of the reasons: 1. the donor will take a deduction when the gift to the conduit foundation is made 2. the donor cannot take a double deduction and therefore does not need a receipt 3. if you have recorded a pledge by the donor, then while that pledge is on your records, a gift from a 3 rd party [the conduit foundation] which satisfies that pledge is in effect a gift to the donor by the 3 rd party [lots of cases on this] which in theory may be treated as an improper transfer by the foundation [non-profit] to the donor [non-qualified donee] and may also be treated as income to the donor Although I will not provide an opinion regarding this matter, it would appear that if a donor has a pledge on the books, one way to proceed might be for you to voluntarily cancel the pledge before the gift from the conduit Foundation is made [and without any legally binding agreement tying the cancellation to the Foundation gift]. This could be very risky, however, and the donor is assuming all of the risk. The only safe procedure is to make sure donors understand that a pledge may not be satisfied except by a direct gift. The conduit foundations [e.g. Fidelity, Community Foundations] were established as and intended to be the donee charity and therefore there can be no linkage. In summary, it will be very difficult to make a "safe" gift to a nonprofit through a conduit foundation to satisfy a pledge
5 Do the donors know the rules? They aren t YOUR rules! But do our donors really NOT know the rules? You bet they do, or should (but might not care and should!) What s the determining factor for acceptance of a gift-in-kind? Related use: The GIK must be useful to the institution in fulfilling the purpose or mission for which h the institution i i was granted tax-exempt status Unrelated use: May still qualify as a gift-in-kind (that you can count and the donor can deduct sort of) provided it was given specifically to be sold (charity auction) the Treasury Regulations under section 170 provide that if a donor contributes tangible personal property p to a charity that is put to an "unrelated use", the donor's contribution is limited to the donor's tax basis in the contributed property The term "unrelated use" means a use that is unrelated to the charity's exempt purposes or function... The sale of an item is considered unrelated, even if the sale raises money for the charity to use in its programs
6 Not many specific IRS rules here! But what rules there are can be found at: This is where you will find those previous quotes Purchaser MUST know the FMV in advance and pay in excess Quid pro quo receipt Donor s item must (?) sell NO receipts until AFTER the auction Donor of item may be able to claim a deduction Only if it is a gift (not a service or partial interest) Only if it sells (?) The receipt should only describe the gift Buyer of an item may be able to claim a deduction Only if the FMV was published or known in advance Only if they paid more than that Does not matter if the donated item was not a gift Quid pro quo receipt is required See Federal Register, Vol. 67 No. 80, page Or just go to the IRS documents section of the FundSvcs.org download site! But if you would rather read about it in plain English download d the American Society of Association Executives (ASAE) interpretation of the IRS regulations also at FundSvcs.org All of the above pertain to taxation or not of sponsorship payments. We translate that to mean no gift or gift. If the payment could be considered taxable income, then no gift 23 Calling something a sponsorship does not always mean the sponsor gets something of value in exchange Sponsorships p are typically y encouraged when you want to have an event underwritten You do need to handle standard quid pro quo benefits such as receiving a table or a certain number of tickets to the event Usually, all a sponsor is really looking for is name recognition 24 6
7 Mention of location, phone number, website Value-neutral descriptions, including displays or visual depictions, of the sponsor s product line or services Displays of brand or trade names and product or service listings Logos or slogans that are an established part of the sponsor s identity Mere display or distribution (free or at a cost) of the sponsor s product at a sponsored activity 25 Qualitative or comparative language Price information or other indications of savings or value (John wonders how, then, they can sell the item as suggested on the previous slide?) An endorsement or inducement to purchase, sell, or use the sponsor s service, facility, or product A single message containing advertising and acknowledgement is considered 100% advertising 26 Any payment by any person engaged in a trade or business with respect to which there is no arrangement or expectation that the person will receive any substantial return benefit. Try to keep words out of sponsorship documents that are red flags to the IRS: sponsorship agreement; partnership; joint venture; royalty agreement; advertising
8 Maybe! But you need to be clear and concise in advance Remember, it matters not if the event has been underwritten. What matters is the fair market value of what participants receive The dreaded golf tournament? Quite likely. But entry fee must exceed the value of the round of golf, cart, balls, food/drink, ball towels, etc. $1000/plate dinner? Sure. But a $25 reception? Don t split hairs probably best to call it a: 29 A nonprofit conducts an event where the gift amount is negligible or difficult to determine or it is just too much work to produce receipts. Walk-a-thons and such are good examples The FMV of benefits received equal the price of admission, but some or all of the event expenses are covered by a donor or group of donors. Those donors are making a gift. However, since the attendees are receiving something of equal or greater value, they are not making a gift 30 An event hosted by a completely independent entity, with no involvement by the nonprofit, who sends any left-over cash to a charity. The organizer of such an event is making a gift for the amount sent to charity, but the attendees are not Can that same entity claim a gift-in-kind for all of the food/beverages/preparations? Maybe, but usually only if event was originally sanctioned by the organization. If so, you need proof of what was purchased (reasonableness check), and proof of payment Once a gift always a gift Cannot give a gift back 1099s? What if the gift was matched? Retain gift after a restricted program is canceled Scholarship recipient selection Donor s involvement Certainly cannot have a majority vote Control based on position/power Cannot require institution to take action it otherwise would not take
9 Donation of time or service. While truly a charitable act, only a volunteer s REQUIRED outof-pocket expenses (mileage, parking, supplies, etc.) may be deducted. FASB/GASB may recognize as an asset Expressly forbidden as a charitable donation per IRS Publication 526 Donated advertising space is a service per IRS Revenue Ruling The use of a donor s property by a charitable organization (partial interest IRS Pub 526) Vacation home for charity auction Office space in lieu of rent One-time display of artwork (fractional gifts are the exception and are legal!) Use of software Changes affect new (starting in 2008) multiyear campaigns. Annual, national (VSE), counting report is unchanged those standards have been generally static for 30 years! Changes result in greater transparency Call for breaking out several categories of gifts for separate reporting Allow for the better tracking of trends in fundraising campaigns Recognize and address the more common historical departures from the CASE Standards Irrevocability no longer required too difficult to manage (State laws varied), and donor-unfriendly to request Pledged/Executed (not found) ) during campaign Should consider age and variable valuation: Under 50 - $ Present value Face value Report separately from outright and irrevocable deferred gifts 9
10 May once again count at face value (3 rd edition went strictly present value) Separate goals should be created for these as well You can bring in more! But more here does not mean less there The issue of transparency suggests that you still report the present value (IRS deduction) of these, too, but face value counts towards goal Only the present value counts for VSE purposes Minimum ages should be considered Reasonable expectation that the conditions will be met during the campaign. Examples include Challenges I ll give you mine if you raise the other Capital Commitments If you build it I will pay Appropriate documentation Recorded as, and with, revocable gifts/commitments and thus counted separately Of 43 $1B+ campaigns completed through 1/2009 (when work began on 4 th edition), 17 took 8+ years (one was 12 how fair is that?) 7 was the most common (17), but that had been the CASE suggestion since 1994 Recognition that shorter campaigns are common especially for strategic/targeted initiatives 8 years, though, should be it in order to maximize commitment of volunteers, staff, and donors (avoid burn-out), and keep campaigns honest (aligned with original priorities) Actually, no change you never count government funding from any government for any reason 4 th edition review committee did, however, take the issue up again Acknowledgement that government funds are helpful in achieving strategic goals, can be leveraged to secure private gifts, and recognize that some fundraising staff help secure However: 10
11 Counting emphasis has always been on raising charitable donations from the private sector Impossible to level the playing field when looking at large public research universities compared to small private colleges; not to mention that only half of the States offer a State matching program Thus, securing government funds does not qualify as a private philanthropic act, however we most certainly can and should recognize its value in achieving institutional goals Advertising revenue Alumni membership dues/fees Appraisal costs and other expenses associated with conveying a gift Contract revenues (including clinical trial funds) Contributed services Partial interest Standard discounts on purchases (does not include true bargain sales) Earned income transfer payments from money earning programs/businesses Gifts or pledges counted before; payments on pledges or bequests made before *Applies to Campaigns AND VSE Gifts to social organizations Governmental funds ALL kinds Oral pledges (except telethon!) Written-off pledges Investment t earnings on gifts includes gains/losses on sales of stock/other property Funds from exclusive vendor relationships: Affinity credit cards, pouring rights, royalties, or other contractual obligations Non-gift portion of QPQ transactions Surplus income from ticket-based operations *Applies to Campaigns AND VSE John s listserv FundSvcs Advancement Services Download Site Association of Advancement Services Professionals (AASP Advserv.org) 2007 Advancement Services book CASE Reporting Standards & Management Guidelines - & 10/2011 Clarification IRS Publications 526, 561, & 1771 johnhtaylor@ncsu.edu 44 11
John Taylor Associate Vice Chancellor for Advancement Services & Interim Campaign Manager North Carolina State University
John Taylor Associate Vice Chancellor for Advancement Services & Interim Campaign Manager North Carolina State University 919.513.2954 johnhtaylor@ncsu.edu 1 2 News from the IRS Background on IRS Regulations
More informationIRS Is Not A 4-Letter Word?
IRS Is Not A 4-Letter Word? -or- Keeping up with the finer points of IRS Rules & Regulations! John Ley Director of Information Services Development & External Affairs Southern Methodist University October
More informationJohn Ley Director of Information Services Development & External Affairs Southern Methodist University
Neither IRS nor CRA are 4-Letter Words? -or- Keeping up with the finer points of IRS & CRA Rules & Regulations! John Ley Director of Information Services Development & External Affairs Southern Methodist
More informationSB :06. POLICY CATEGORY: Accounting/Administration. Policy on Gift Acceptance by Corporation
SB 2015-2016:06 The policies of Associated Students Incorporated are in compliance with the regulations of the California State Polytechnic University, Pomona, the CSU Chancellor and the CSU Board of Trustees,
More informationWhat Must a Tax-Exempt Organization Do To Acknowledge Donations?
What Must a Tax-Exempt Organization Do To Acknowledge Donations? An important feature of being a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code is the ability to accept tax-deductible
More informationThe Spartanburg County Foundation FUNDRAISING EVENTS. Guidelines And Procedures
The Spartanburg County Foundation FUNDRAISING EVENTS Guidelines And Procedures FUNDRAISING EVENTS GUIDELINES AND PROCEDURES Contents Section 1: Fundraising Event Guidelines for Component Funds...... 3
More informationCharitable Solicitation: Registering, Acknowledging & Substantiating Donations
Charitable Solicitation: Registering, Acknowledging & Substantiating Donations Presented by: Robyn Miller Staff Attorney Pro Bono Partnership of Atlanta 1 Agenda Registration to Solicit Donations Internet
More informationKent State University Foundation. Gift Acceptance and Campaign Counting Guidelines
Gift Acceptance and Campaign Counting Guidelines Reviewed and Approved by the Board as of 6/2/2017 Table of Contents Table of Contents... 2 1.0 Purpose... 4 2.0 Authority... 4 3.0 Campaign Period... 5
More informationCHARITABLE GIFTS - IMPROVING FINANCIAL & TAX REPORTING
CHARITABLE GIFTS - IMPROVING FINANCIAL & TAX REPORTING Joyce A. Dulworth, CPA Partner jdulworth@bkd.com Daniel J. Waninger, CPA Director dwaninger@bkd.com 1 TO RECEIVE CPE CREDIT Participate in entire
More informationSUBJECT: GIFT TYPES, TERMS AND DEFINITIONS
SUBJECT: GIFT TYPES, TERMS AND DEFINITIONS 1.0 AUCTIONS 1.1. Only the difference between the fair market value of the item and the purchase price may be counted as a tax-deductible gift by the purchaser.
More informationCharitable Contributions
Charitable Contributions Substantiation and Disclosure Requirements INTERNAL REVENUE SERVICE Tax Exempt and Government Entities Exempt Organizations Are you an organization that receives contributions
More informationCharitable Contributions. Substantiation and Disclosure Requirements
Charitable Contributions Substantiation and Disclosure Requirements 1 Are you an organization that receives contributions of $250 or more? or Are you an organization that provides goods or services to
More informationWhen Your Donor has a Donor Advised Fund
When Your Donor has a Donor Advised Fund Sindy L. Craig, J.D.,LL.M. Northern California Planned Giving Conference May 5, 2017 When Your Donor Has a Donor Advised Fund Overview Case Study: Framework for
More informationFundraising Guidelines for Faculty, Staff and Campus Organizations
Fundraising Guidelines for Faculty, Staff and Campus Organizations August 2006 A. Purposes 1. To distinguish between (a) fundraising efforts in which St. Norbert College (hereafter the College ) is an
More informationPOLICY NUMBER: 52 MUSC Foundation Policy on SOLICITATION PIECE PROCEDURES, 2007 Responsible Executive Officer, Chief Financial Officer
MEDICAL UNIVERSITY OF SOUTH CAROLINA FOUNDATION PROCEDURE FOR USING THE SOLICITATION PIECE (FOR SPECIAL EVENTS) POLICY NUMBER: 52 MUSC Foundation Policy on SOLICITATION PIECE PROCEDURES, 2007 Responsible
More informationFEDERAL SUBSTANTIATION AND DISCLOSURE REQUIREMENTS DISCLOSURE: QUID PRO QUO TRANSACTIONS IN EXCESS OF $75
FEDERAL SUBSTANTIATION AND DISCLOSURE REQUIREMENTS The tax code imposes a set of substantiation and disclosure requirements on 501(c)(3) charities and their donors. A useful summary of these requirements
More informationGAIN INSIGHT: SPONSORSHIPS VS ADVERTISING. berrydunn.com GAIN CONTROL
GAIN INSIGHT: SPONSORSHIPS VS ADVERTISING berrydunn.com GAIN CONTROL AGENDA Unrelated Business Income Qualified Sponsorships Donation Compliance Defining Political Activity 2 UNRELATED BUSINESS INCOME
More informationBelow are the rules and regulations created by Canada Revenue Agency (CRA) around issuing tax receipts for Third Party events:
Tax Receipts and what you need to know: Below are the rules and regulations created by Canada Revenue Agency (CRA) around issuing tax receipts for Third Party events: Terms: What is an Advantage? An advantage
More informationFUNDRAISING AND OTHER ADVANCEMENT ACTIVITIES Guidelines for Non-Gift Items Updated January 4, 2016
FUNDRAISING AND OTHER ADVANCEMENT ACTIVITIES Guidelines for Non-Gift Items Updated January 4, 2016 The following instructions provide guidance to campus units to assure compliance with IRS regulations
More informationFiscal Sponsorship Guidelines
Fiscal Sponsorship Guidelines What is a Fiscal Sponsorship Fund? A Fiscal Sponsorship Fund allows an organization (the Fundholder ) to operate as a 501(c)(3) organization under the umbrella of The Miami
More informationLEGAL AND TAX ASPECTS WORKSHOP
LEGAL AND TAX ASPECTS WORKSHOP Marilyn Jacobs April 27, 2018 This training is provided for educational, compliance and loss-prevention purposes only, and absent the express prior agreement of DWK, does
More informationSPECIAL EVENTS POLICY March 2010
SPECIAL EVENTS POLICY March 2010 Purpose Statement The Northern Arizona University Foundation (NAUF) operates and raises funds for the benefit of the Northern Arizona University (University) under federal,
More informationGift Pledge Handling Reference Guide. Table of Contents
Table of Contents I. Overview of Gift and Pledge Handling a. What is a gift? i. Types of gifts ii. Payment types iii. Gift transaction types iv. Gift purpose codes b. What is a pledge? i. Pledge transaction
More informationSocial Enterprise: The Legal and Tax Issues
Social Enterprise: The Legal and Tax Issues Anne E. Andrews, Esq. and Timothy B. Phillips, Esq. November 18, 2009 Mission of Pro Bono Partnership of Atlanta: To provide free legal assistance to community-based
More informationProgram Description. Purpose
Program Description Purpose The following sections describe policies, rules and regulations of the GuideStream Charitable Gift Fund (GuideStream). GuideStream s primary activities consist of assisting
More informationGift Acceptance Policy Rochester Institute of Technology. Table of Contents
Gift Acceptance Policy Rochester Institute of Technology Table of Contents I. Introduction 1 II. Engagement 1 III. Ethical Consideration and Conflict of Interest 2 IV. Legal Counsel 2 V. Commitment Documentation
More informationGift Acceptance Policy
Gift Acceptance Policy This Gift Acceptance Policy (the Policy ) governs the solicitation, acceptance, and acknowledgment of charitable gifts to the Vail Valley Foundation, which shall include Vail Valley
More informationEastern Washington University Foundation Gift Acceptance Policies and Guidelines
Eastern Washington University Foundation Gift Acceptance Policies and Guidelines Board Approved: June 22, 2007 Revised & Approved: October 21, 2010 Revised & Approved: April 16, 2014 Finance Committee
More informationPolicies and Procedures Regarding Fundraising for Funds of The Community Foundation for the Greater Capital Region
Policies and Procedures Regarding Fundraising for Funds of The Community Foundation for the Greater Capital Region Purpose To assure that all fundraising efforts to build component funds at the Community
More informationUnrelated Business Income Tax Matters
Unrelated Business Income Tax Matters Eugene J. Logan, Tax Shareholder Sarah R. Piot, Tax Senior Manager elogan@schneiderdowns.com (412) 697-5684 spiot@schneiderdowns.com (412) 697-5303 Exempt Organization
More informationOffice of Development and Alumni Affairs. Gift Acceptance Policy
Office of Development and Alumni Affairs Gift Acceptance Policy Approved by the Lynn University Board of Trustees May 2010 Office of Development and Alumni Affairs Table of Contents Commitment to Lynn
More informationHospital for Special Surgery. GIFT ACCEPTANCE POLICY March 2018
Hospital for Special Surgery GIFT ACCEPTANCE POLICY March 2018 PURPOSE This policy serves as a guideline to members of the Hospital for Special Surgery staff involved with accepting gifts, to outside advisors
More informationPROCEDURE POLICY GOVERNING PRINCIPLE PROCEDURE ER GIFT ACCEPTANCE ACCEPTING, ACKNOWLEDGING AND DOCUMENTING THE RECEIPT OF GIFTS
Section: Subject: External Relations (ER) Fundraising Legislation: Effective: March 12, 2004 Revision: September 1, 2016 (reformatted) ER.3.1.11 GIFT ACCEPTANCE ACCEPTING, ACKNOWLEDGING AND DOCUMENTING
More informationState governments regulate a nonprofit s charitable solicitations. Adopt policy regarding donor privacy and use of donor names.
Fundraising State governments regulate a nonprofit s charitable solicitations. Deceptive or abusive techniques are prohibited. Use IRS Form 990 and 990-EZ to disclose the percentage of funds raised that
More informationUnrelated Business Income Tax
Unrelated Business Income Tax The publication is prepared by and distributed with express consent from the University of Arizona, Financial Services Office Tax Compliance. Minor edits are denoted. For
More informationPresentation to the Financial Administrator Development Program Financial & Tax Policies/Processes
Presentation to the Financial Administrator Development Program Financial & Tax Policies/Processes November 23, 2015 Beth Powers, Tax Manager, Financial Analysis & Reporting Lee Hunter, Chief Accountant,
More informationGIFT ACCEPTANCE POLICIES AND GUIDELINES
GIFT ACCEPTANCE POLICIES AND GUIDELINES Northwest Foundation, Inc., a not for profit organization organized under the laws of the State of Missouri, encourages the solicitation and acceptance of gifts
More informationYear-End Giving/Receipting Issues 10 Things You Must Know!
Year-End Giving/Receipting Issues 10 Things You Must Know! December 1, 2015 ECFA.org ECFA 2015. All rights reserved. Today s Presenters Dan Busby President ECFA Michael Martin Vice President and Legal
More informationTax Receipting Guidelines
Tax Receipting Guidelines April 22, 2015 TAX RECEIPTING GUIDELINES As a registered charity, Cystic Fibrosis Canada can issue tax receipts to donors but we need to comply to specific and strict regulations
More informationPOLICY: DONOR INITIATED FUNDRAISING POLICY Approved: January 8, 2019 Reviewed and Approved: Reviewed and Revised: INTRODUCTION
POLICY: DONOR INITIATED FUNDRAISING POLICY Approved: January 8, 2019 Reviewed and Approved: Reviewed and Revised: INTRODUCTION Community Foundation of Harford County ( CFHC or the Community Foundation
More informationA DONOR S GUIDE. https://rcf.reninc.com RCF A DONOR S GUIDE 1 RCF_DG_
A DONOR S GUIDE RCF A DONOR S GUIDE 1 Helping your philanthropy go further You know how gratifying it is to support a worthy cause. What if you could create an enduring legacy through your charitable contributions?
More informationAUBURN UNIVERSITY Foundation. Auburn University: Development Accounting Guidance Memo
AUBURN UNIVERSITY Foundation Auburn University: Development Accounting Guidance Memo DETERMINING THE VALUE OF DONOR BENEFITS IRS regulations require that a charitable organization make a good faith effort
More informationFundraising Law and Regulation January 2015 PLI Presentation
Fundraising Law and Regulation January 2015 PLI Presentation Elizabeth M. Guggenheimer Lawyers Alliance for New York eguggenheimer@lawyersalliance.org What is Fundraising Activity? Fundraising activity
More informationA DONOR S GUIDE. https://rcf.reninc.com RCF A DONOR S GUIDE 1 RCF_DG_
A DONOR S GUIDE RCF A DONOR S GUIDE 1 Helping your philanthropy go further You know how gratifying it is to support a worthy cause. What if you could create an enduring legacy through your charitable contributions?
More informationUnderstanding UBI Qualifications in Higher Education
Understanding UBI Qualifications in Higher Education August 17, 2017 Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor. 2017
More informationGIFT ACCEPTANCE POLICY AND GUIDELINES Jewish Community Center of York PA. Approved by the Board of Directors 12/5/2013.
GIFT ACCEPTANCE POLICY AND GUIDELINES Jewish Community Center of York PA Approved by the Board of Directors 12/5/2013 Table of Contents Introduction... 2 Mission... 2 Purpose... 2 Terms and Definitions...
More informationGift Policy. Responsible Officer. Vice-Chancellor Approved by
Gift Policy Responsible Officer Vice-Chancellor Approved by Council Approved and commenced August, 2012 Review by August, 2015 Relevant Legislation, Ordinance, Rule and/or Governance Level Principle Scholarships
More informationNational Charity League, Inc Fundraising Policy
National Charity League, Inc Fundraising Policy Introduction As 501 (c) (3) organizations, NCL Chapters are legally permitted to accept donations from their members as well as from sources outside of the
More informationWhat Mosques & Nonprofits Should Know About Charitable Recordkeeping and Acknowledging Contributions
What Mosques & Nonprofits Should Know About Charitable Recordkeeping and Acknowledging Contributions Presenters: Mohamed Sabur Karim Hanafy Agenda Introduction Importance of Substantiation & Disclosure
More informationBrett R. Harris, Esq.
Sobel & Co. s Nonprofit and Social Services Group Webinar IRS Disclosure Requirements: What Do Organizations Need to Provide to Donors? February 15, 2012 Brett R. Harris, Esq. Wilentz, Goldman & Spitzer,
More informationGuidelines for Donor Advised Funds
Guidelines for Donor Advised Funds 901 Route 10 PO Box 929 Whippany, New Jersey 07981-0929 Phone 973.929.3113 Fax 973.884.9316 SStone@jfedgmw.org www.jcfmetrowest.org Revised 12/14/2016 Creating a Donor
More informationSocial Enterprise Part 2: What Can 501(c)(3)s Do?
Social Enterprise Part 2: What Can 501(c)(3)s Do? Robyn Miller Corporate/Tax Counsel, Pro Bono Partnership of Atlanta May 4, 2016 Mission of Pro Bono Partnership of Atlanta: To provide free legal assistance
More informationMARYLAND 4-H LEADERS CLUB FINANCIAL HANDBOOK
MARYLAND 4-H LEADERS CLUB FINANCIAL HANDBOOK FOR CHARTERED 4-H CLUBS USING THE 4-H NAME AND EMBLEM The Maryland 4-H Youth Development program is part of the University of Maryland Extension (UME), which
More informationThe University of North Carolina at Chapel Hill Gift Acceptance Policy TABLE OF CONTENTS. Policies Related to Donor-Imposed Restrictions on Gifts
The University of North Carolina at Chapel Hill Gift Acceptance Policy TABLE OF CONTENTS I. Purpose of Policy II. Authority to Accept Gifts III. Gift Types IV. Policies Related to Donor-Imposed Restrictions
More informationPARENT ORGANIZATIONS TAX FILING REQUIREMENTS
PARENT ORGANIZATIONS TAX FILING REQUIREMENTS Leland Dushkin, CPA Tax Manager Hereford, Lynch, Sellars & Kirkham, PC ldushkin@hlsk.com 1406 Wilson Road, Suite 100 Conroe, TX 77304 936-756-8127 or 936-441-1338
More informationMaintaining Individual Giving Records
Maintaining Individual Giving Records 2 Table of Contents Maintaining Individual Giving Records. 003 Giving Through the Offering.. 004 Giving Through Fundraisers 005 How to determine the amount that can
More informationFederal Tax Law Changes Affecting 501(c)(3) Nonprofits
Federal Tax Law Changes Affecting 501(c)(3) Nonprofits David Heinen North Carolina Center for Nonprofits Connect Learn Advocate Important Disclaimers If you can read this fine print, you are sitting too
More informationchevron humankind program guidelines
chevron humankind program guidelines Table of contents Chevron Humankind... 1 Scope... 1 Contribution limits... 2 Eligible participants... 2 Eligible recipient organizations... 2 Restrictions on contribution
More informationPolicies and Procedures Regarding Fundraising and Special Events for Funds of The Community Foundation for the Greater Capital Region
Policies and Procedures Regarding Fundraising and Special Events for Funds of The Community Foundation for the Greater Capital Region Purpose To assure that all fundraising efforts and special events for
More informationPNC CENTER FOR FINANCIAL INSIGHT
PNC CENTER FOR FINANCIAL INSIGHT Tax Reform and Philanthropy: Exploring Why and How You Give The new tax law will have sweeping implications on charitable giving, creating a greater urgency to examine
More informationUS TAX GUIDE Non-Profits Operating Abroad
US TAX GUIDE Non-Profits Operating Abroad Filing Forms 990-EZ and 990 (for the first time) EXPAT TAX SPECIALISTS ON A MISSION Copyright 2017 by Hola Expat All Rights Reserved. www.holaexpat.com Table of
More informationNONPROFIT TAX HOT ITEMS: IRS ISSUES, FORM 990 AND LEGISLATION
NONPROFIT TAX HOT ITEMS: IRS ISSUES, FORM 990 AND LEGISLATION MACPA Government and Not For Profit Conference April 17, 2015 Mike Sorrells, BDO USA, LLP National Director Nonprofit Tax Services Agenda Update
More informationNONPROFIT TAX HOT ITEMS: IRS ISSUES, FORM 990 AND LEGISLATION
NONPROFIT TAX HOT ITEMS: IRS ISSUES, FORM 990 AND LEGISLATION MACPA Government and Not For Profit Conference April 17, 2015 Mike Sorrells, BDO USA, LLP National Director Nonprofit Tax Services Agenda Update
More informationThe John Cooper School Gift Acceptance Policies November 10, 2014
The John Cooper School Gift Acceptance Policies November 10, 2014 Introduction Fundraising goals at The John Cooper School (the School ) are established by the School s Board of Trustees (the Board ) and
More informationCOMMENTARY. Interference With the Tax Preferences JONES DAY
June 2009 JONES DAY COMMENTARY Colleges and Universities: Is There Impending Interference With the Tax Preferences Applicable to Intercollegiate Sports? In May 2009, the Congressional Budget Office of
More informationIntroduction of Advisors Charitable Gift Fund Page 3. Advantages Page 5. Definitions Page 6. Contributions Page 9. Investment of the Endowment Page 11
TABLE OF CONTENTS Introduction of Advisors Charitable Gift Fund Page 3 Advantages Page 5 Definitions Page 6 Contributions Page 9 Investment of the Endowment Page 11 Grant Making Page 12 Creating a Legacy
More informationGUIDELINES REGARDING PUBLIC FUNDRAISING FOR COMPONENT FUNDS OF THE FOUNDATION DONOR-INITIATED FUNDRAISING
GUIDELINES REGARDING PUBLIC FUNDRAISING FOR COMPONENT FUNDS OF THE FOUNDATION DONOR-INITIATED FUNDRAISING Thank you for expressing your confidence in the Montrose Community Foundation (MCF) by establishing
More informationGuidelines for Counting Gifts to Timeless Values, Pioneering Solutions The Campaign for The University of Texas Medical Branch
Guidelines for Counting Gifts to Timeless Values, Pioneering Solutions The Campaign for The University of Texas Medical Branch Introduction The purpose of this document is to set forth the guidelines that
More informationCrossing over to help.
ProvisionBridge 2011 Program Guide Crossing over to help. a donor-advised fund program ProvisionBridge is the place where compassion connects with the call for help. With a focus on funding organizations
More informationFISCAL SPONSORSHIP AGREEMENT
FISCAL SPONSORSHIP AGREEMENT This Agreement is made by and between Software Freedom Conservancy ( Conservancy ) and FIXME-CONTRIBUTOR-NAMES (the Signatories) on behalf of the project known as FIXME- PROJECT-NAME
More informationROBERTS/SMART CENTRE (RSC) - THIRD PARTY EVENT TOOLKIT
ROBERTS/SMART CENTRE (RSC) - THIRD PARTY EVENT TOOLKIT Fundraising Guidelines 1. RSC encourages fundraising events that are compatible with our mission, vision and values. Prior approval to hold a third
More informationUnrelated Business Income Tax (UBIT)
Unrelated Business Income Tax (UBIT) Unrelated business income (UBI) is the gross income from any trade or business that is regularly carried on by the University and that is not substantially related
More informationGroup solicitations require the approval of the Director of Institutional Advancement.
Charitable Giving Policy Section A: Soliciting/Accepting Gifts and Donations Carmel Catholic High School welcomes expressions of interest and financial support, solicited or unsolicited, regardless of
More information2016 Charitable Giving Review
2016 Charitable Giving Review SUMMARY TABLE OF CONTENTS With the end of the year approaching rapidly, Morgan Stanley Global Impact Funding Trust, Inc. ( Morgan Stanley GIFT ) would like to take this opportunity
More informationDonation or Sponsorship? Know the Rules, Reap the Rewards
IMAGINE CANADA Charity Tax Tools Webinar October 18, 2011 Donation or Sponsorship? Know the Rules, Reap the Rewards By Terrance S. Carter, B.A., LL.B., TEP, Trade-mark Agent tcarter@carters.ca 1-877-942-0001
More informationUnit Outline. Our questions this week. 1. Medical Expenses
If you are truly serious about preparing your children for the future, don't teach them to subtract - teach them to deduct. -- Fran Lebowitz 2 Unit06. Itemized Deductions (PAK Chapter 7) This week s objective
More informationMARYLAND 4-H LEADERS CLUB FINANCIAL HANDBOOK
MARYLAND 4-H LEADERS CLUB FINANCIAL HANDBOOK FOR CHARTERED 4-H CLUBS USING THE 4-H NAME AND EMBLEM The Maryland 4-H Youth Development program is part of the University of Maryland Extension (UME), which
More informationStudent & Faculty Fundraising Guidelines Development Office University Relations
Student & Faculty Fundraising Guidelines Development Office University Relations As a member of the Santa Clara community, you are encouraged to solicit gifts to the University in support of student programs,
More informationChapter 11: Unrelated Business Income
Chapter 11: Unrelated Business Income INTRODUCTION... 100 Definition... 105 Filing Requirements... 110 Public Disclosure of Form 990-T... 111 Examples of Unrelated Business Activities... 115 Royalties
More informationPREPARATION OF TAX FORM 990
PREPARATION OF TAX FORM 990 The Temple with Combined Units return and Shrine Clubs Group return qualify under IRS Code Section 501(c)(10), Shriners International group exemption number 0229. Shrine temple
More informationColorado Planned Giving Roundtable Gift Acceptance Policy. March 17, 2015
Colorado Planned Giving Roundtable Gift Acceptance Policy March 17, 2015 Mission Colorado Planned Giving Roundtable ( CPGR ) The Mission of the Colorado Planned Giving Roundtable (CPGR) is to inspire our
More informationPrivate foundations Establishing a vehicle for your charitable vision
Private foundations Establishing a vehicle for your charitable vision I didn t know where to start. The advice I received on creating a private foundation pointed me in the right direction, and now I m
More informationOPERATION UNDERGROUND RAILROAD FUNDRAISING/SPECIAL EVENT GUIDELINES AND PROCEDURES
OPERATION UNDERGROUND RAILROAD FUNDRAISING/SPECIAL EVENT GUIDELINES AND PROCEDURES Operation Underground Railroad is a licensed 501(c)(3) organization and is held accountable to the highest ethical standards
More informationLegal Issues Pertaining to Philanthropy
Legal Issues Pertaining to Philanthropy Tuesday, October 28, 2014, 8:30 a.m. 10:30 a.m. ET Venable LLP, Washington, DC Caryn G. Pass, Esq., Venable LLP Kristalyn J. Loson, Esq., Venable LLP Agenda State
More informationProgram Guidelines. Bank of America Charitable Gift Fund CONTRIBUTIONS TO THE BANK OF AMERICA CHARITABLE GIFT FUND
Bank of America Charitable Gift Fund Program Guidelines The following document outlines the Guidelines that govern the Bank of America Charitable Gift Fund (Charitable Gift Fund) including contributions,
More informationIncome Tax Technical News No. 26 December 24, 2002 This version is only available electronically. In This Issue
Income Tax Technical News No. 26 December 24, 2002 This version is only available electronically. In This Issue Proposed Guidelines on Split-Receipting The Income Tax Technical News is produced by the
More information-8- General Instructions for Form 990 and Form 990-EZ
b. Within the low-cost article limitation. contributions made by a taxpayer to a donee determined by reference to the fair market Examples. organization during a tax year equals $250 or value of similar
More information5. Gift Crediting and Reporting
5. Gift Crediting and Reporting The University at Albany Foundation I. HOW WE REPORT PHILANTHROPY The Division of University Development will issue regular reports to University and Foundation staff showing
More informationFirst Name, MI, Last Name Date of Birth Social Security # Street Address City/State Zip. Primary Telephone #
Donor Application Please complete this form to establish a donor-advised fund of $100,000 or more with. Additional forms are available at www.nptcat.org. If you need assistance, call toll free at (855)
More informationI. PURPOSE: KEY PROVISIONS:
UNIVERSITY OF WISCONSIN-MADISON SPONSORSHIP POLICY SUBJECT: Policies Governing Sponsorship POLICY OF: Vice Chancellor for University Relations DATE: January 2017 I. PURPOSE: This Policy provides guidance
More informationCHARITABLE GIFT FUND USER S GUIDE
CHARITABLE GIFT FUND USER S GUIDE CHARITABLE GIFT FUND USER'S GUIDE Thank you for your interest in Anabaptist Foundation s Charitable Gift Fund (CGF) Program. We have collected the most frequently asked
More informationPLANNED GIVING GUIDE
PLANNED GIVING GUIDE You can Create your Own Legacy Making a difference is important to you. Charitable giving is an important part of your life and your core values. Like many people, you d like to know
More informationDONOR ADVISED FUND PROGRAM CIRCULAR. An Overview, Rules and Regulations of Rotary s Donor Advised Fund
DONOR ADVISED FUND PROGRAM CIRCULAR An Overview, Rules and Regulations of Rotary s Donor Advised Fund Updated 1 July 2014 Welcome to Rotary s Donor Advised Fund. Please read this Program Circular carefully.
More informationPolicy on Gift Acceptance
GOVERNANCE AND LEGAL Effective Date: March 21, 2014 Date Revised: April 5, 2018 Supersedes: Related Policies: Responsible Office/Department: Keywords: Policy on Gift Acceptance I. Purpose and Scope II.
More informationEstablishing a Donor Advised Fund at the Community Foundation
Establishing a Donor Advised Fund at the Community Foundation Thank you for your interest in establishing a Fund at the Community Foundation of Collier County and for providing the information below. After
More informationDONOR ADVISED FUND POLICIES AND GUIDELINES
DONOR ADVISED FUND POLICIES AND GUIDELINES March 2017 BNY MELLON CHARITABLE GIFT FUND is a service mark of The Bank of New York Mellon Corporation. 2017 BNY MELLON CHARITABLE GIFT FUND. All rights reserved.
More informationOPERATION UNDERGROUND RAILROAD FUNDRAISING/SPECIAL EVENT GUIDELINES AND PROCEDURES
OPERATION UNDERGROUND RAILROAD FUNDRAISING/SPECIAL EVENT GUIDELINES AND PROCEDURES Operation Underground Railroad is a licensed 501(c)(3) organization and is held accountable to the highest ethical standards
More informationA Guide to Your Donor-Advised Fund
A Guide to Your Donor-Advised Fund Introduction Thank you for your interest in establishing a donor-advised fund (DAF) with National Philanthropic Trust (NPT). NPT is a tax-exempt public charity under
More informationPartners In Development, Inc. Serving the poorest of the poor since 1990
Third-Party Fundraising Guidelines Thank you for your interest in fundraising to benefit (PID) We appreciate your willingness to make a contribution. We ask that you adhere to the following guidelines
More informationNONPROFIT AGENDAS: STRATEGIES AND SOLUTIONS FOR CONTINUING TO GROW YOUR NONPROFIT ORGANIZATION
NONPROFIT AGENDAS: STRATEGIES AND SOLUTIONS FOR CONTINUING TO GROW YOUR NONPROFIT ORGANIZATION NOVEMBER 2010 THE WORLD OF QUID PRO QUO: WHEN A DONATION ISN T SIMPLY A DONATION A contribution to a charity
More information