In this article, we will provide an overview of the annual minimum distribution requirements and the new excise tax on investment income for private foundations. Prior to 2019, private foundations had to pay an excise tax of 1 or 2… Read More

Recent legislation resulted in a repeal of the “parking tax” and simplified the excise tax on private foundation net investment income. The Internal Revenue Service published the following update to inform tax-exempt organizations about recent tax law changes. The Taxpayer… Read More

Since 1942, professional sports organizations have been able to elect tax-exempt status as 501(c)(6) nonprofit organizations. Given the profitability of groups like the PGA Tour which reported 1.2 billion dollars in revenue in 2016, the tax savings afforded by Section… Read More

Do you know if your private foundation made its required charitable distributions this year?  Does it need to make any estimated tax payments?  How are those calculated?  Private foundations have minimum distribution requirements.  They also pay a tax on net… Read More

The new revenue recognition standard for contracts with customers, ASC 606, is now in effect for all nonprofits. Although the updated guidelines apply to all entities and not just nonprofits, this article will largely focus on the effect on different… Read More

Have you ever made donations to a charity online? Did you use a crowdfunding website, such as GoFundMe? If you have, there’s a chance that you may be unable to deduct those donations on your tax return. Read on to… Read More

When the Tax Cuts and Jobs Act originally added the nonprofit transportation (primarily parking) tax, most entities were worried that they would be subject to additional taxes. However, new guidance was issued in December of 2018 clarifying the tax and… Read More

Can a nonprofit organization get political? Could penalties be involved?  Could the organization’s exempt status be at risk?  It may be surprising to learn that some nonprofits may be able to engage in legislative lobbying activities. The main caveat to… Read More

The Nonprofit Institute at the University of San Diego publishes an annual report analyzing the economic health of the NPO sector and its impact on our community.  Did you know that there are 11,234 registered 501(c)(3) public charities in San… Read More

Fundraising activities are a great way for nonprofits to obtain funds to be used for their charitable purpose. Everybody loves bingo night or winning an all-expense-paid vacation through a raffle, especially when their donations to participate are for a good… Read More