As the new tax bill worked its way through Congress last fall, nonprofits across the country raised their voices high to share concerns about its disincentives for charitable donations — as well as the proposed repeal of the Johnson Amendment. Little was heard, though, about changes to the rules for unrelated business income tax (UBIT). And it turns out that the final law, the Tax Cuts and Jobs Act (TCJA), includes several provisions that could boost your organization’s liability for the tax, regardless of whether you operate an unrelated business.
It may seem hard to believe in today’s hyper-connected world, but some nonprofits still don’t have a presence on social media. And, among those that do, many could do it better. Social media underperformance frequently can be tracked to some common missteps. But you usually can get past them at little to no cost.
Continue reading Getting the most from your social media use
If your organization anticipates raising big amounts with a raffle at your next fundraising event, you might want to step back and revisit your assumptions. State laws vary, but the IRS has rules related to unrelated business income (UBI) that need to be followed, and raffle income may be subject to UBI tax. Here’s what you need to know before you place all your bets on this event. Continue reading Raffles: Follow the rules of the game
Giving study yields disappointing results
A new study based on data gathered over 15 years from more than 9,000 U.S. families offers an in-depth look into charitable giving during that period — and it includes some discouraging data. The Philanthropy Panel Study is conducted every two years by the Indiana University Lilly Family School of Philanthropy and the University of Michigan Institute for Social Research. Continue reading Newsbits