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| Monday, October 13, 2008 |
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GIVE Act Includes Provision for Charity Mileage Reimbursement Increase
By jonn @ 9:28 AM :: 78 Views :: Legislative Alerts
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Summary:
The AFP blog reports that the Giving Incentives to Volunteers Everywhere (GIVE) Act of 2008 includes a proposed increase to the IRS allowed mileage reimbursement rate for charity-related driving. The Act would raise the allowed tax deduction to 27 cents per mile, up from the 14 cents per mile rate that has been constant for the past 10 years, according to Syracuse.com. In addition, the rate would be increased every year if the Act was passed.
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| Monday, October 13, 2008 |
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Increased Reserve Requirements in New York
By jonn @ 8:57 AM :: 49 Views :: Legislative Alerts
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Summary:
At the end of July, new increased reserve requirements for charities issuing gift annuities in New York were announced. In addition, the calculation of required reserves was made simpler. For more information about these changes, and the regulation of charitable gift annuities in New York in general, please visit this page from the American Council on Gift Annuities Web site. This site also provides information regarding the regulations in all states.
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| Monday, October 13, 2008 |
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Bailout Bill Includes Additional Incentives for Giving
By jonn @ 8:26 AM :: 55 Views :: Legislative Alerts
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Summary:
The economic bailout bill that was recently passed included not only the IRA Rollover Extension, but other motivations for giving, as well. The AFP reports that many of these incentives involve increased reimbursement or deduction levels. To find out more from the AFP about these provisions, click here.
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| Monday, October 13, 2008 |
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IRA Rollover Extension Passed
By jonn @ 7:48 AM :: 74 Views :: Legislative Alerts
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Summary:
According to the Association of Fundraising Professionals blog, the IRA Rollover Extension discussed in the May Legislative Alert has been passed. The recent $700 billion bailout bill included a two-year extension of the IRA Rollover. "The provision will be made retroactive to Jan. 1, 2008, and will apply to gifts made from that date through Dec. 31, 2009," the blog said.
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| Wednesday, May 21, 2008 |
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Canadian Budget Includes Provisions to Advance Charitable Giving
By teresaf @ 3:58 PM :: 253 Views :: Legislative Alerts
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Summary:
The federal government’s 2008 budget includes several provisions affecting charitable giving, including a slight expansion of the exemption for gifts of securities from the capital gains tax. The two proposed changes for the capital gains tax exemption are somewhat technical in nature and limited in focus, but may have an effect on certain nonprofit organizations.
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| Wednesday, May 21, 2008 |
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Canadian Revenue Agency Calls for Comments on Fundraising Cost Guidelines
By teresaf @ 3:39 PM :: 245 Views :: Legislative Alerts
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Summary:
The Canada Revenue Agency (CRA) has proposed new guidelines on how charities should report fundraising costs and whether expenses can be considered charitable or fundraising. The new policy statement, Policy on Fundraising, outlines the CRA's position on how costs associated with fundraising activities, or activities undertaken for fundraising and one or more other purposes, should be reported on a registered charity's T3010A return. The policy statement also sets out guidance for registered charities on how the CRA assesses a charity's fundraising to determine if it is acceptable.
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| Wednesday, May 21, 2008 |
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Canadian Members - Contact Your Member of Parliament to Pass the NPD Bill
By teresaf @ 3:26 PM :: 259 Views :: Legislative Alerts
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Summary:
Canada is on the verge of becoming the first country to enact a government-recognized National Philanthropy Day®, but your help is needed. On April 29, 2008, Bill S-204, an act to recognize Nov. 15 permanently as National Philanthropy Day, was passed unanimously in the Senate. On Wednesday, May 7, 2008, the bill was introduced in the House.
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| Tuesday, May 20, 2008 |
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IRA Rollover Extension Introduced in the Senate
By teresaf @ 5:29 PM :: 341 Views :: Legislative Alerts
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Summary:
The Alternative Minimum Tax and Extenders Tax Relief Act of 2008 (S. 2886) was introduced by Sens. Max Baucus(D-Mont.), the chair of the Senate Finance Committee, and Charles Grassley (R-Iowa), the committee’s ranking member. This tax extenders package includes an extension of the IRA Rollover provision that would retroactively cover Jan. 1, 2008 through Dec. 31, 2009.
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What You Can Do:
- Send letters to your senators & house members.
- Click here if you don’t know who your U.S. senators are.
- Click here if you don’t know who your U.S. house member is.
- Personalize your letters – it will receive more attention if it doesn’t look like every other letter.
- Fax your letters. Mail takes too long and emails receive scant attention. Click here for your members’ fax numbers.
- Send this information to as many colleagues you know (non-ALDE members) who are interested in supporting the fundraising profession.
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