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August 2017

Is it a Contribution or is it an Exchange Transaction? Finally, the FASB Issues its Long-Awaited Guidance

By | August 14, 2017|Categories: Nonprofit|

On August 3, 2017, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to clarify and improve the scope and accounting guidance for contributions received and contributions made, primarily as it relates to not-for-profit entities (NFPs). The proposed ASU covers two significant topics: Helps organizations decide if a transaction should [...]

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July 2017

Who Really Owns Art: Legal Guide to Art Collecting

By | July 19, 2017|Categories: Nonprofit|

What laws govern the ownership of artistic work? There have been numerous cases brought to court in the past few decades regarding the subject of legal title of artwork. One of the most famous and public cases was the Republic of Austria v. Altmann, in which the plaintiff, Maria Altmann, argued that five paintings, painted [...]

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June 2017

IRS Online Resources for Exempt Organizations

By | June 6, 2017|Categories: Nonprofit|

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 [...]

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May 2017

President Signs Executive Order on Promoting Free Speech and Religious Liberty

By | May 4, 2017|Categories: Nonprofit|Tags: , , , |

On the heels of statements made earlier this year regarding the repeal of the Johnson Amendment, President Donald Trump today signed an executive order that allows churches and other religious organizations to become more active politically. It also provides regulatory relief for organizations that object, on religious grounds, to a provision of Affordable Care Act [...]

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April 2017

Nonprofit Webinar: Experts Discuss What is Ahead for Nonprofit Organizations

By | April 4, 2017|Categories: Events, Nonprofit|

On March 29, 2017, Green Hasson Janks broadcasted an exciting webinar on the 2017 Outlook for Nonprofits. Partner and Nonprofit Practice Leader Donella Wilson of Green Hasson Janks moderated a provocative discussion with Principal and Nonprofit Tax Leader Lauren Haverlock of Green Hasson Janks and Nonprofit Consultant Larry Kaplan. For those of you who missed [...]

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March 2017

Form 926 Filing Requirements – a Potential Trap for the Unwary Tax-Exempt Organization

By | March 31, 2017|Categories: Nonprofit, Taxing Thoughts|Tags: , , , |

By: Sunil Patel (Tax Supervising Senior) and Jason Booth (Tax Principal) 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 [...]

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Travel Ban Impact on Nonprofits

By | March 21, 2017|Categories: Nonprofit|

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, [...]

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Private Foundations and Self – Dealing

By | March 13, 2017|Categories: Nonprofit|Tags: , |

Private foundations enjoy the benefit of being tax exempt but often face more restrictions and scrutiny than public charities.  Green Hasson Janks Principal Lauren Haverlock takes an in-depth look at one of the most rigid restrictions for private foundations – self dealing. Click here to download our latest resource.    

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February 2017

The Benefits of Program-Related Investments

By | February 14, 2017|Categories: Nonprofit|Tags: , , |

In our previous blog, No Strings Attached, we discussed the importance of unrestricted general operating support from grant makers.  However, general operating support may not be the best – or only way – to assist every grantee organization. Instead of, or in addition to a grant, program-related investment (PRI) sometimes makes sense. If you haven’t [...]

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