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Giving Thanks for Charitable Tax Exemption

Have you ever wondered why charities enjoy special tax exemption privileges?  Or on a deeper level, how the word “charity” came to be defined by the IRS, for Section 501(c)(3) purposes?  This article provides a short historical primer on the evolution of the term “charity,” special aspects for exempt religious organizations, and related tax theories in brief.

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Helping Others Grow: The Nuts and Bolts of Fiscal Sponsorships

Has your nonprofit ever been involved with getting a new nonprofit activity launched through receiving funds for a specific project, allowing such funds to be spent for the project, and perhaps even seeing the project blossom into its own Section 501(c)(3) organization?   These arrangements are commonly known as “fiscal sponsorships.”  Fiscal sponsorships may take a variety of forms, but generally they involve innovation, some degree of control and supervision, and an accompanying agreement to address relationship details.  Here’s what responsible nonprofit leaders need to know about fiscal sponsorships, if their organization will serve as a fiscal sponsor or if they are the beneficiary recipients of such arrangements.

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How Will the Latest Senate and House Bills Impact Nonprofits?

As previously outlined in our November 8th Special Alert, the U.S. House of Representatives released a Bill on November 2, setting forth the most significant proposed changes to federal tax law in more than 30 years. The following is a summary of the key provisions in the most current version of the House and Senate Bills that would impact nonprofits. Modifications to the Senate Bill were released on November 14, 2017, and major modifications to the Senate Bill provisions outlined below have been noted parenthetically for ease of reference. The Senate Bill is expected to be further marked up and modified, and BMWL will update this information periodically as major new developments impacting nonprofits are released.

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