SBA Releases Draft Loan Necessity Questionnaire
The Small Business Administration (SBA) recently released draft Form 3509, which is a Paycheck Protection Program (PPP) loan necessity questionnaire for for-profit borrowers. The form is still awaiting...
View ArticleThe Tax Benefits of Giving Tuesday
Since it began in 2012, Giving Tuesday, the Tuesday after Thanksgiving, has become more and more popular. A recent survey suggests that 62% of Americans plan to participate this year. The main purpose...
View Article[Video] The AMI Expert Podcast Series - Don Stern on 3rd Party Independents,...
I am joined once again by AMI Managing Director Stern. In this episode, we look at a third-party independent in non-profit setting and how it could help universities survive Varsity Blues. Many people...
View ArticleConnecticut Announces Small Business/Nonprofit Grant Program
The Connecticut Department of Economic and Community Development recently announced a $50 million CT CARES Small Business Grant Program to assist Connecticut small businesses and nonprofits in...
View ArticleAgencies Emphasize Risk-Based Due Diligence Approach for Charities and...
The Agencies issued a joint Fact Sheet that lists considerations for a risk-based approach when it comes to charities and nonprofits. While the Fact Sheet purports to not impose additional obligations...
View ArticleIRS to Organizations Seeking 501(C)(3) Exempt Status: Charitable Means...
The Internal Revenue Service (IRS) on October 9 released a denial letter issued to an organization seeking exemption under Section 501(c)(3) to operate a program to “to deploy capital into projects...
View ArticleExempt Organization Application Revisions and Required Electronic Submission
Earlier this year, the IRS revised Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and its instructions, to help charities apply for 501(c)(3)...
View ArticleFlexibility for Oklahoma nonprofit corporations
In 2019 the Oklahoma Legislature passed, and the Governor signed into law on April 16, Senate Bill 642, which made numerous and substantial changes to the Oklahoma General Corporation Act (the “Act”)...
View ArticlePPP Loan Over $2 Million? An Imminent Deadline May Be Looming!
Since inception, the Paycheck Protection Program (the “PPP”) under sections 1102 and 1106 of the Coronavirus Aid, Relief, and Economic Security Act has undergone numerous and material refinements by...
View ArticleFederal Regulators Issue Notice Advising Financial Institutions How to Assess...
The nonprofit industry in the United States accounts for one trillion dollars of annual economic activity. But high-profile enforcement actions against nonprofit organizations (“NPOs”) at both the...
View ArticleSpecial $300 deduction for cash donations; digital signatures; National Tax...
Special Tax Deduction for Cash Donations to Charities in 2020 - In the latest post on A Closer Look, Tax Exempt and Government Entities Commissioner Edward Killen reminds taxpayers there’s a special...
View ArticleKeeping the Faith: Faith-Based Employers Get a Boost from the U.S. Government
On December 14, 2020, several departments of the United States government announced a Joint Final Rule Regarding Equal Treatment of Faith-Based Organizations in Department of Labor-Supported Social...
View ArticleBusiness Tax Incentives and Relief Resulting from COVID-19 Response
The Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized a refundable tax credit important to many employers struggling as a result of the COVID-19 pandemic. This credit, known as the...
View ArticleNonprofits Now Eligible for Paycheck Protection Program Under The...
The Consolidated Appropriations Act, 2021 (the “Act”), which was recently signed into law by President Donald Trump, provides, that for the first time, Section 501(c)(6) not-for-profit organizations...
View ArticleDevelopments in Association Law 2019 – 2020
A review of key legal developments for nonprofit organizations at the federal and state levels in 2019 and 2020. Antitrust enforcement continues against nonprofits. Nonprofits have litigated in other...
View ArticleStimulus Bill Changes to All PPP Loans
On December 27, 2020, President Trump signed the 2021 Consolidated Appropriations Act, which also contained the latest stimulus relief bill. Part of that bill was the Economic Aid to Hard-Hit Small...
View ArticleWhat Regulated-Industry Companies and Non-Profits Need to Know About New...
Not all political activity is the same. A political contribution is different than lobbying, which is itself different than issue advocacy. And the rules of the road differ for each category of...
View Article[Webinar] The Art of Planning for Valuable Collections - January 21st, 3:30...
Join us for a discussion of estate and philanthropic planning for art and other valuable collections. Topics to be covered include: - Collection ownership and management to protect the value of the...
View ArticleStimulus Bill Changes to New PPP Loans
On December 27, 2020, President Trump signed the 2021 Consolidated Appropriations Act, which also contained the latest stimulus relief bill. Part of that bill was the Economic Aid to Hard-Hit Small...
View ArticleCalifornia Judge Halts President Trump’s Workplace Diversity Training Order
You may recall from my earlier blog that a group of organizations and individuals who specialize in the delivery of high-quality health care and other critical services to members of the LGBT community...
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