Nonprofit

Tax-exempt organizations face tough restrictions and scrutiny. Our Nonprofit blogs provide vital resources and highlight legislation, volunteerism and industry conferences to keep you up to speed on current trends.

February 2018

2017 Tax Reform Act – Unrelated Business Income

By | February 13, 2018|Categories: Nonprofit|

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 [...]

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December 2017

Tax Reform Impact on Nonprofits

By | December 18, 2017|Categories: Nonprofit|

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 [...]

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November 2017

Developing the Right Board For Your Mission

By | November 8, 2017|Categories: Nonprofit|

Excerpt from the Green Hasson Janks Nonprofit Whitepaper, The Give and The Get: The Future of Philanthropy. Most important is to have the right board make-up. A successful board needs wide diversity of skills among its members, both in their backgrounds and in their experience. This variety will enable a more thorough thought process and [...]

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September 2017

Mission Related Investing

By | September 19, 2017|Categories: Nonprofit|

In our recently released whitepaper, The Give and The Get:  The Future of Philanthropy, we noted that many nonprofits are now investing funds in a way that promotes equity.  These investments are made with the intent to generate a measurable, beneficial social or environmental impact alongside a financial return.  Of our survey respondents, 23% invest [...]

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Nonprofit Challenges – An Insider’s Perspective

By | September 11, 2017|Categories: Nonprofit|

This year I attended the The American Institute of CPAs  Not-For-Profit Industry Conference in Washington D.C. I reported back on some key takeaways from the conference during our annual accounting and tax update on July 19. I also find it important to share insights from my conversation with Eliz Hovsepian, Vice President of Finance & Controller [...]

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August 2017

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

By | August 17, 2017|Categories: Nonprofit, Taxing Thoughts|Tags: , , , |

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 [...]

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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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