Year-End Giving: Receiving and Acknowledging Donations
The ability to accept tax-deductible donations is an important advantage of being a 501(c)(3) organization. Whether acknowledgements of those donations are required and what the acknowledgements should include depends on what and how much is donated.
Tax Compliance for Fundraising Events
‘Tis the season for lively charitable fundraising events such as galas, dinners, and other creative gatherings. However, fundraising events, whether in-person or virtual, can also cause unintended headaches if tax compliance issues are overlooked.
Charitable Solicitation Registration
Generally, in forty-one states and the District of Columbia, a tax-exempt organization that intends to solicit charitable contributions from the public is required to register. This requirement to register hinges upon a number of factors. States do allow some exemptions…
2021 Charitable Giving Tax Deductions from CARES Act
As nonprofit organizations gear up for their end-of-year giving campaigns, consider reminding your donors that several of the benefits of the Coronavirus Aid, Relief, and Economic Security (CARES) Act are in effect through the end of 2021. Most notable is…
Staying Tax-Exempt: Avoiding Pass-Through Payments to Individuals
As a general rule, a donation to a 501(c)(3) nonprofit charitable organization may be tax-deductible, while a gift to an individual is not tax-deductible. Donors and 501(c)(3) nonprofit organizations may not skirt this rule by passing payments from donors, through…
When Donor-Imposed Gift Restrictions Outlive Their Purpose, Ohio Charities May Have a Way Out
For many charitable institutions, accepting gifts subject to certain donor-imposed restrictions is a normal course of business. But what about those restrictions that have outlived their purpose or failed to evolve with the times? This is particularly common for gifts made…
Understanding CAN-SPAM: Key Considerations for Nonprofits
Does your organization send emails to your mailing list asking recipients to register for your upcoming programs? Does it email invitations to fundraisers or requests for volunteers? If so, like most nonprofits, you are subject to certain notice and opt-out…
Do’s and Don’ts of Corporate Sponsorship
Corporate sponsors often provide much-needed funding to nonprofit organizations in return for recognition and other benefits. It is important that your organization be aware of the potential tax consequences of providing benefits to the sponsor that exceed the safe harbors…
Risks and Rewards of Crowdfunding
Crowdfunding has become an increasingly popular tool in a nonprofit’s fundraising arsenal, and with good reason. Organizations can pay crowdfunding websites to showcase particular projects and events and to collect donations on their behalf. Doing so can enable even a…