Nonprofit Law Matters

Tag Archives: DAF

IRS Provides Some Limited Guidance on Donor Advised Funds

Posted in Charitable Gift Planning, Grantmaking & Social Investing, IRS, Private Foundations, Public Charities

On December 4th the IRS issued Notice 2017-73, which provides some key insights into how the IRS is thinking about three distinct areas involving donor-advised funds.  The public is invited to provide input and comment by March 5, 2018.  Some organizations may not like where the IRS is headed on at least two of the… Continue Reading

Tax Reform Affects Exempt Organizations

Posted in Charitable Gift Planning, Private Foundations, Public Charities, Religious Institutions, Revenue Generating Activities, Tax Treatment of Lobbying & Political Activities

The House Ways and Means Committee on Thursday introduced its highly anticipated tax legislation, called the Tax Cuts and Jobs Act.  The Act proposes major changes to the Internal Revenue Code, including lowering the number of tax brackets, increasing the standard income tax deduction, and repealing or limiting other deductions.  You may have read about… Continue Reading

IRS Releases Revenue Procedure 2017-53 on Foreign Public Charity Equivalence Determinations

Posted in Grantmaking & Social Investing, International Charitable Transactions & Operations, Private Foundations, Public Charities

Yesterday, September 14, 2017, the IRS released Revenue Procedure 2017-53, which international grantmakers and their tax advisors have eagerly awaited.  As background, private foundations making grants directly to foreign organizations generally must use one of two grantmaking procedures―expenditure responsibility or foreign public charity equivalency.  (The latter is known as “FPCE” for short, and also sometimes… Continue Reading