What is a Private Foundation? A private foundation is a type of 501(c)(3) tax-exempt organization typically established for the purpose of grantmaking. Private foundations are usually funded by an endowment, a single donor (whether an individual or corporation), or a small group of donors. This is in contrast to public charities which must be supported …
It’s time to think about year-end charitable contributions. For 2021, there are a plethora of enticing incentives for donors looking for a tax deduction for their donations. 100% Deductibility 2021 is the last year that cash donations to public charities (other than donor advised funds) will be deductible in amounts up to 100% of the …
Charitable contributions are a main source of funding for most non-profits. In order for your donors to receive a tax deduction for making charitable contributions, they must be properly and appropriately acknowledged by the nonprofit. You may be surprised to learn that there are several important things your organization must do to ensure that donors …
Yesterday’s launch of the Paycheck Protection Program (PPP) was a chaotic mess. More frequently than not, nonprofit executives and business owners were frustrated by their inability (at no fault of their own) to apply for PPP loans. PPP to Aid Distressed Nonprofits The PPP was approved by Congress last week to provide forgivable loans to …
The world will be a different place when the COVID-19 pandemic subsides. But the world will still be here. At that time, there will be work to be done, needs to be met and new opportunities for all of us who don’t succumb to negativity, paralysis or panic. As one of the most successful species …
Do you know the minimum wage for many nonprofit employees will increase on July 1, 2019? On that date, certain cities and counties in California, as well as the District of Columbia, New Jersey and Oregon, will increase the minimum hourly wage for nonexempt employees. The size of the wage increase may depend whether the …
