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5 Risks of Third-Party Fundraisers (and How a Fundraising Policy Can Help)
Fundraising Regulation

5 Risks of Third-Party Fundraisers

Third-party fundraisers are events run by individuals, businesses, community groups, schools, or organizations to raise money or goods for a nonprofit. Activities can range from

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Nonprofits Expanding Internationally
International Operations and Grants

Nonprofits Going Global

Increasingly, US nonprofits seek to go global by expanding their operations and influence overseas. When a US nonprofit expands its activities across borders, whether by

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Pros and Cons of Nonprofit Executive Committees
Governance

Nonprofit Executive Committees

Many board members question the proper function of a nonprofit executive committee. Nonprofits need a strong organizational structure to ensure optimal functioning and adherence to

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What Nonprofits Need to Know About DOL’s New Independent Contractor Rule
Starting a nonprofit

Independent Contractor vs. Employee

Misclassifying employees as independent contractors is a common mistake made by many nonprofits. Still, improperly misclassifying an employee as an independent contractor can be costly. Nonprofits can suffer payroll tax liabilities and penalties or lawsuits from federal and state authorities for reimbursement of workers’ compensation claims.

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Corporate Charitable Deductions for Disaster Relief
Nonprofit Tax

Corporate Charitable Deductions for Disaster Relief

Normally, corporations can only deduct charitable contributions up to an amount that equals 10 percent or less of their taxable income in the given tax year. Under the CARES Act, this limitation was bumped to 25 percent of taxable income.

More recently, the December 2020 Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA) temporarily upped the limit for corporate charitable contribution deductions to 100% for qualified disaster relief contributions.

The IRS has released additional guidance for corporations considering using the deduction. Here’s what you need to know.

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Nonprofit Tax

New Limits on Charitable Deductions in 2021

The new tax laws continue 2020 CARES Act changes that increase the above-the-line individual tax deduction to $300. In addition, the new rules double the deduction for married couples filing jointly to $600; the 2020 CARES Act did not have a provision that permitted couples to claim an additional amount over individual filers. Donations must be made in cash (rather than stocks or other assets like cars and clothing; credit cards and checks are OK) and go directly to a charity (donor-advised funds and private non-operating foundations do not count).

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