Wednesday, April 2, 2014

Most Recent Nonprofit Advocacy Matters

The most recent issue of Nonprofit Advocacy Matters from the National Council of Nonprofits contains several stories of interest.  Here are some of the headlines:

Senate Action Likely on Expired Giving Incentives

Federal Agencies Shifted Sequestration Burdens on Nonprofits, Others

Connecticut Reconsiders Support for Some Nonprofit Property Exemptions

Public University Pegged for “PILOTS”

The Relationship Between Cities and Nonprofits: It’s Complicated


According to the first story listed above, the Senate Finance Committee plans to consider renewing “several dozen expired tax incentives,” including those described as follows:

The food inventory enhanced tax deductions allowed individuals, businesses, and corporations to donate wholesome food to nonprofits and deduct their cost basis plus one-half the difference between their cost and the market value of the donated goods. The enhanced tax deduction for conservation easement donations permitted landowners to donate or sell certain rights associated with his or her property, such as the right to subdivide or develop, and a private organization or public agency agrees to hold the landowner’s promise not to exercise those rights. The IRA charitable rollover allowed individual taxpayers older than 70 ½ years to donate up to $100,000 from their individual retirement accounts (IRAs) and Roth IRAs to charitable nonprofits without having to treat the withdrawals as taxable income.



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