By Bruce R. Hopkins
The bits and bobs of fundraising law-made easy-from nonprofit legislation authority Bruce Hopkins
Author Bruce R. Hopkins-a top authority at the legislation regulating fundraising-offers crucial, functional felony details in easy-to-understand English. His functional counsel and "red flags" supply priceless suggestion and current serious info in a good and understandable fashion.
Now your company may be totally knowledgeable in regards to the easy felony standards affecting fundraising and keep away from the perils lurking within the myriad tax-law traps. Fundraising legislations Made Easy essentially exhibits you ways, with every little thing you want to comprehend about
- The fundraising process
- State charitable solicitation acts
- Federal tax charitable giving rules
- Requirements of the recent shape 990
- How constitutional legislation, governance, and IRS audit practices pertain to charitable fundraising
- Expert suggestion from Bruce Hopkins, the writer of greater than 20 books on nonprofit counsel, together with The New shape 990 and Charitable Giving legislation Made Easy
Mandatory examining no matter if you're a charitable association improvement officer, fundraising advisor, a trustee, or a director, Fundraising legislations Made effortless illuminates the principles surrounding charitable giving, and authoritatively and carefully courses you thru each point of its legislation.
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Additional info for Fundraising Law Made Easy
The criterion of purpose is met if the joint activity furthers the charity’s program or management functions. Program functions may be accomplished when the activity requests speciﬁc action by the audience in furtherance of the charity’s mission. Requests for contributions are not considered a speciﬁc action that furthers a charity’s mission. Purpose Criterion. SOP 98-2 provides the following factors to consider when determining if the purpose criterion has been met: (1) whether compensation or fees for performing the activity are based on contributions raised; (2) whether a similar program or management and general activity is conducted separately and on a similar or greater scale; and (3) other evidence.
It is available when a charitable organization hires a fundraising professional, whether as an employee or independent contractor, where the person was not a disqualiﬁed person immediately before entering into the contract. When the parameters of this exception are satisﬁed, the compensation arrangement is totally exempted from the intermediate sanctions law penalties. The rebuttable presumption of reasonableness can also be useful for the fundraising professional, particularly in circumstances where the initial contract exception cannot apply.
From time to time, he contributed futures contracts to the foundation and claimed charitable contribution deductions for these gifts. In 1974, he obtained a private letter ruling from the IRS that the charitable contributions deductions were proper and that no gain need be recognized when the foundation sold the contracts. In 1981, however, the federal tax law was changed. Beginning with that year, all commodities futures contracts acquired and positions established had to be marked to market at year-end and the gains (or losses) had to be characterized as being 60 percent long-term capital gains (or losses) and 40 percent short-term gains (or losses), regardless of how long the contracts had been held.