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More Scrutiny of Donor Advised Funds

December 7, 2017

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More Scrutiny of Donor Advised Funds

December 7, 2017

Authored by: Keith Kehrer

Notice 2017-73, released on December 4, 2017, describes potential approaches that may be taken to address issues raised regarding the use of donor advised funds (“DAF”). The Treasury and IRS are considering developing proposed regulations under § 4967 of the Internal Revenue Code (Code) that would, if finalized, provide that: (1) certain distributions from a DAF that pay for the purchase of tickets that enable a donor, donor advisor, or related person to attend or participate in a charity-sponsored event result in a more than incidental benefit to such person under § 4967; and (2) certain distributions from a DAF that the distributee charity treats as fulfilling a pledge made by a donor, donor advisor, or related person, do not result in a more than incidental benefit under § 4967 if certain requirements are met. In addition, the Treasury Department and the IRS are considering developing proposed regulations that would

Play Time is Over: IRS Reveals Process for Assessing ACA Penalties

November 27, 2017

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The Affordable Care Act (ACA) introduced a “pay or play” scheme, effective January 1, 2015, in which Applicable Large Employers (ALEs) must offer affordable qualifying healthcare to their full-time employees (and their dependent children) or pay a penalty. Despite President Trump’s first Executive Order (discussed here) directing a rollback of the Affordable Care Act (ACA) and instructing the Secretary of Health and Human Services to minimize the “unwarranted economic and regulatory burden of the act,” the Internal Revenue Service (IRS) quietly updated its Questions and Answers on Employer Shared Responsibility Provisions Under the ACA to include the first official guidance detailing the process for enforcement of the penalty. Notably, this update coincided with an IRS announcement that penalties for the 2015 calendar year will be assessed late this year.

The ALE penalty process starts with Letter 226J, which the IRS will send to ALEs it believes owe a penalty based on

IRS and #GivingTuesday

November 27, 2017

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IRS and #GivingTuesday

November 27, 2017

Authored by: Keith Kehrer

The Internal Revenue Service reminds taxpayers looking to maximize their tax savings before the end of the year to consider charitable giving. Many taxpayers may already be planning to do so for Giving Tuesday on November 28. Giving money or goods to a tax-exempt charity before December 31 can usually be deducted on that year’s federal income tax return.

This #GivingTuesday, IRS has tips to find tax-deductible options

  • Donating to disaster recovery efforts or a local shelter?
  • Want to know the special rules to get a tax deduction from donating cars, boats and other property?
  • Cash or non-cash year-end gifts to charity? What to know for a tax deduction on your IRS return.
  • IRA owners over age 70½ – want to know about a different way to give?
  • Hoping for a tax-deduction for your Giving Tuesday donation? Itemize or eFile your return

Resources: 

IRS YouTube videos: 

Three Lessons That Non-Profits Can Teach Service Professionals

November 17, 2017

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No group has focused on building alignment and enlistment more than the non-profit, civic, and community sectors.  I’ve had the good fortune to work with some of the best – hospitals, animal shelters, the Chamber of Commerce, and industry change groups. With shallow budgets and a heavy dependence on volunteers (not to mention the careful watch of donors), the best non-profit groups not only stay afloat, they thrive by focusing on a few core goals.

Like non-profit groups, service professionals (like lawyers, consultants, accountants, and other service providers) rarely function with a “command and control” hierarchy, and instead depend on the alignment and enlistment of others – including clients, their staff, fellow professionals, or others.   

EO Update: e-News for Charities & Nonprofits

November 7, 2017

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 1.  New presentations on StayExempt

  2.  Employment Tax podcasts

  3.  EO Issue Snapshots

  4.  Fee for Form 8976

Form 8976, Notice of Intent to Operate Under Section 501(c)(4) – Organizations must pay a $50 fee at Pay.gov within 14 days of submitting the form.

  5.  Podcast on maximum loans in retirement plans

Podcast – computation of maximum loan amount from retirement plans 

Grants Research: An Introduction to Data Resources and Grant Prospect Research

November 7, 2017

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Thursday, Dec. 7, 2017 from 1-4 p.m. in #202 J.C. Penney Conference Center (on the UMSL north campus)

Successful grant research includes a review of various kinds of data like giving statistic, reports, and databases. But learning to identify, evaluate, and select data resources used in grants research can be a challenge. This course will provide participants with (a) an introduction to the process of information evaluation, (b) data resources commonly available in grant development, and (c) how to use the “Foundation Database Online Professional” database to identify and evaluate funding prospects.

Instructor Brad Smith is the Nonprofit Information Resource Manager for the St. Charles City-County Library District. In that capacity, he oversees the delivery of the Library District’s specialty services to the nonprofit community.  As a representative of the Library District, he regularly provides consultation services and assistance to public, private, and nonprofit initiatives that are aimed toward enhancing community

Successful Grant Writing

October 16, 2017

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Successful Grant Writing

October 16, 2017

Authored by: Keith Kehrer

Thursday, Nov. 2, 2017 from 9 a.m. to 4 p.m. in Century Room C of the Millennium Student Center (on our UMSL north campus – please note different building than most of our workshops).

In the highly competitive world of grants, learn the art and science of creating excellent grant applications. Share perspectives and embrace practical examples that will give you an edge in writing proposals and obtaining funding. You will leave this interactive session with tools and techniques you can put to immediate use as you seek funds from the private sector. Hands-on activities will be more meaningful if you come to class with a project in mind – it can be for any project at any amount. From the initial research to thanking the donor, this comprehensive session is good for beginners and seasoned grantwriters alike. The class will also explore the growing area of Donor Advised Funds

EO Update: e-News for Charities & Nonprofits

October 12, 2017

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Audit Technique Guides for Exempt Organizations Examiners use these guides during audits of specific types of exempt organizations.

The Enduring Relevance of Rev. Proc. 71-17 on IRC Section 501(c)(7) Organizations Read the IRS issue snapshot on the effect of a 501(c)(7) club’s non-member income on its unrelated business taxable income and exemption.

Cybersecurity: A Strategic Priority for Nonprofits

October 3, 2017

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Thursday, Oct. 19, 2017, 1-4 p.m. in #204 Express Scripts Hall (on the UMSL north campus – please note different location than most of our classes)

This class provides an overview of core cybersecurity concepts and an appreciation of the variety of threats to cybersecurity. Attendees will consider why a focus on cybersecurity is important, what is at stake, and how cybersecurity must become a strategic priority for nonprofits. The class will conclude with a survey of immediate steps nonprofits could take to better manage cybersecurity risks. Attendees are encouraged to bring their own laptops.

About the Cybersecurity Program at UMSL: The University of Missouri-St. Louis holds the prestigious National Center of Academic Excellence in Cyber Defense Education (CAE-CDE) designation granted by the National Security Agency and the U.S. Department of Homeland Security. We are currently one of only two institutions that hold such a designation in the state of Missouri and the only

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