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Senate Tax Bill Keeps Johnson Amendment Intact

November 10, 2017       Andy Segedin      

The House of Representatives came down on the charitable sector last week, cutting into charitable coffers with an increased standard deduction and removal of the estate tax.

BREAKING: House Bill Sunsets Johnson Amendment For All 501(c)(3)s

November 9, 2017       Mark Hrywna      

The House Ways and Means Committee advanced tax reform legislation along a party-line vote this afternoon, including an amendment that would allow political activity not only by houses of worship but extend it to all 501(c)(3) organizations.

Johnson Amendment Repeal Attempt Cites ‘Churches’ Only

November 6, 2017       Andy Segedin      

Somewhat buried in the deluge of Thursday’s 429-page tax proposal from the House of Representatives was Sect. 5201, permitting churches to make political statements during the ordinary course of religious services. The section, the second to last of the bill, runs counter to the Johnson Amendment, which has prohibited partisan political activity among all 501(c)(3)s since 1954.

Federal Tax Bill Targets Deductions, Endowments, Lobbying

November 2, 2017       Andy Segedin      

The year of speculation is over. Nonprofit leaders finally know what proposed tax reform will mean for the sector and the earlier reports look grim, with estimates predicting that a doubled standard deduction without a universal deduction will, alone, lead to a $13 billion loss in giving.

2017 NPT 100: Program Service Revenue And Donors Do The Heavy Lifting

November 1, 2017       Mark Hrywna      

The nation’s largest nonprofits had continued revenue growth last year not only from increased giving from the public but also fees and revenue derived from their programs. The ups-and-downs of the stock market knocked around some portfolios but nonprofits generally still were in the black when it came to gains.

AFP Ends 16-Month CEO Search

October 25, 2017       Mark Hrywna      

The Association of Fundraising Professionals (AFP) stayed within the Beltway and association space to find its new president and chief executive officer. Effective Nov. 1, Mike Geiger will be the new president and CEO at the Arlington, Va.-based organization, which has been led by an interim CEO for nearly a year-and-a-half.

NAACP Picks New CEO, Plans To Create (c)(4) Organization

October 23, 2017       Mark Hrywna      

The National Association for the Advancement of Colored People (NAACP) elected Derrick Johnson as its next president and CEO, with a priority of creating  a national 501(c)(4) social welfare organization to oversee local affiliates. Johnson was elected vice chairman of the board of directors in February and was appointed interim president and CEO in July. He will have a three-year contract.

FASB Deadline Nears On Accounting For Contributions Received and Made

October 19, 2017       Patricia McGowan and Catherine Syslo      

The Financial Accounting Standards Board (FASB) wants to improve and clarify guidance on revenue recognition of grants and contracts by nonprofits and is seeking comments and guidance on the topic.

Las Vegas Relief Tops Eight Figures

October 18, 2017       Andy Segedin      

A GoFundMe campaign dedicated to the Las Vegas Victims’ Fund stands at just shy of $11 million as of Wednesday morning while other million-dollar fundraising efforts are ongoing throughout the city. The estate of Stephen Paddock, who allegedly opened fire on a crowd of concert goers on Oct. 1 killing 58 and wounding 500 others, might also be made available. Multiple media outlets have reported that Paddock, believed to be a millionaire, will have his assets placed in a trust for those impacted by the shooting.

Rebuilding Lives After Harvey, Irma, Jose And Maria

October 16, 2017       Andy Segedin and Mark Hrywna      

Powerful hurricanes cut a swath of destruction through the Caribbean and southeast United States early last month, prompting what’s likely to be the largest philanthropic response to natural disasters in at least a half-decade. Hurricanes Jose and Maria were on their way at presstime.