Tax, Legal & Compliance
August 24, 2016 at 9:28 am
Months after he was supposed to give away more than $100,000 for college scholarships, Milo Yiannopoulos said all of the money is still sitting in his bank account. The Breitbart editor and professional political agitator (recently banned from Twitter for harassment) came under fire this week as allegations surfaced that his charity, which would provide…
August 23, 2016 at 10:54 am
A dual national British-Australian man has been arrested and detained in Dubai, United Arab Emirates, for sharing on Facebook a link to a fundraising campaign benefiting refugees in Afghanistan. Scott Richards, who lives in the United Arab Emirates city with his family but is a citizen of both Australia and the U.K., was charged with…
August 23, 2016 at 10:47 am
Jimmy Feigen, who has been accused by Brazilian authorities of fabricating a robbery claim along with Ryan Lochte and two other U.S. swimming teammates, will pay about $10,800 to an unnamed Brazilian charity and then leave the country, his attorney told the Associated Press early Friday. According to attorney Breno Melaragno, Brazilian law allows people…
August 22, 2016 at 12:19 pm
More than two decades after issuing rules and regulations for nonprofits on how to present and share their financials, the Financial Accounting Standards Board (FASB) hopes to simplify things for these organizations, as well as their donors, by issuing new guidelines. After years of study and outreach, the FASB released new guidelines this week that…
August 19, 2016 at 9:35 am
The IRS has slashed the application fee small charitable organizations are required to pay when applying for tax-exempt status. According to Revenue Procedure 2016-32, the IRS reduced the user fee from $400 to $275 for Form 1023-EZ, Streamlined Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code. The new fee went into…
August 17, 2016 at 7:23 am
Colorado’s attorney general and secretary of state are asking residents to do more to check out charities before they decide to give. "I encourage the many generous people in our state who make charitable contributions to take proper precautions before donating their hard-earned money," Colorado Attorney General Cynthia Coffman said in a news release. "Unfortunately,…
August 16, 2016 at 10:24 am
Lynn Hlatky has spent her career as a scientist studying the development of cancer, hoping in some way to improve understanding of an insidious disease. She took a path common in her field: won funding, established a lab, assembled a team of colleagues and got to work. But now, a decade of Hlatky’s work suddenly…
August 16, 2016 at 10:13 am
In 2005, Vanderbilt conceded defeat in its legal battle to remove the word "Confederate" from one of its residency halls, which was built as Confederate Memorial Hall, but which the university prefers to call just Memorial Hall. The university had announced plans to remove the word in 2002, but the Tennessee chapter of the United…
August 12, 2016 at 10:57 am
Crowdfunding has changed the face of disaster/emergency fundraising. It offers a way for people worldwide to offer monetary assistance to anyone, anywhere, anytime. It is hosted on platforms that the nonprofit does not have to own or run, thus taking away a lot of logistical details that can bog down an emergency response. But crowdfunding brings with it a new set of challenges to be addressed...
August 12, 2016 at 9:49 am
The nonprofit TD Beach to Beacon 10K has become wildly popular as Maine’s largest road race. Registration for Saturday’s event, which drew more than 6,300 runners, filled in less than four minutes. But while Beach to Beacon’s revenues have more than tripled over the past 15 years, its charitable contributions have declined as a percentage,…
