Lizbeth Nevarez

Senior Manager

#BeMore with Green Hasson Janks.

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Lizbeth Nevarez

    2017 Tax Reform Act – Unrelated Business Income

    By | April 17, 2018|Categories: CPA Food Bites|

    Originally printed in February 2018 issue of Los Angeles Business Journal The 2017 Tax Reform Act that was passed on December 22, 2017 has significant changes that impact tax exempt organizations. As trusted advisors serving more than 100 nonprofit clients, Green Hasson Janks has highlighted select provisions of the Act. Here is a summary of the changes: PROVISION: DISALLOWED FRINGE BENEFITS SUBJECT TO UNRELATED BUSINESS TAXABLE INCOME PRE-REFORM LAW Prior to 2018 tax exempt organizations […]

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      Tax Reform Impact on Nonprofits

      By | April 17, 2018|Categories: CPA Food Bites|

      The proposed tax legislation will certainly have a significant impact on individuals and business entities. Some of the changes may also have some unintended consequences for exempt organizations, primarily 501(c)(3) organizations. Below are some highlights that were covered at the Western Conference on Tax Exempt Organizations that both public charities and private foundations should keep an eye on. Itemized Deductions for Individuals Proposed Bill The standard deduction will be increasing […]

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        What Tax-Exempt Organizations Should Know About Filing a Form 926

        By | April 17, 2018|Categories: CPA Food Bites|

        Many tax-exempt organizations invest frequently in foreign alternative investments (e.g., hedge, private equity, real estate and venture capital funds). When investing into such funds, these tax-exempt organizations’ primary tax concern is generally to mitigate their risk of Unrelated Business Taxable Income (“UBTI”). Funds commonly avoid this UBTI issue for their tax-exempt organization investors by structuring funds so that the tax-exempt organizations invest through a non-U.S. entity that is […]

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          IRS Online Resources for Exempt Organizations

          By | April 17, 2018|Categories: CPA Food Bites|

          It can be challenging for exempt organizations to keep track of all the requirements needed in order to maintain their tax exempt status. There are a vast number of topics that exempt organizations should be aware of such as annual filing requirements, unrelated business income, car donation reporting etc. Over my 9 years of experience in nonprofit tax practice, I have been posed with some of the same recurring questions from tax exempt organizations. The questions include:  What are the […]

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            Travel Ban Impact on Nonprofits

            By | April 17, 2018|Categories: CPA Food Bites|

            There are several nonprofit organizations in the United States with missions aimed at assisting refugees. These nonprofits provide direct assistance, such as food and clothing, to individuals who are currently living in a foreign country, or help refugees that have recently arrived in the U.S. find housing and settle in the country. On February 2, 2017, President Donald Trump issued a revised executive order to protect the nation from foreign terrorist entry into the U.S. This order directly […]

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              Due Diligence During a Merger

              By | April 17, 2018|Categories: CPA Food Bites|

              It is a rare feat when two nonprofit organizations are able to come together and join resources to increase the collective impact they have in the community. It is just as rare to have enough donor contributions that allow them to do so. The amount of time, work, and of course, due diligence, that goes into making something this amazing happen is astronomical. I was able to go through this experience as the Treasurer of Bienvenidos Children's Center (Bienvenidos).  Bienvenidos provides foster […]

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                Messaging and Storytelling for Impact Giving

                By | April 17, 2018|Categories: CPA Food Bites|

                At our recent 2015 Nonprofit Conference we decided to do things a little differently and scheduled two concurrent breakout sessions. I had the pleasure of attending the Messaging and Storytelling for Impact Giving workshop and introducing the presenter, Terrence McNally, a strategic communications consultant and a workshop leader for The Goodman Center, a nonprofit learning center “where do-gooders learn to do better.” Terrence graduated from Harvard and decided to go into the entertainment […]

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