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The tax side of transportation benefits: Are you up to speed?

The Tax Cuts and Jobs Act (TCJA) included several provisions of interest to nonprofits, including one that dramatically altered the treatment of so-called “qualified transportation fringes” (QTFs). With the new rules now in place for a full tax year and IRS guidance issued, some organizations may need to learn how the latest revisions are likely to affect their bottom lines.
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Newsbits

Giving to donor-advised funds jumps

The National Philanthropic Trust (NPT), the largest U.S. donor-advised fund (DAF) sponsor, has some good news about grants to nonprofits from DAFs. It reports a 39% increase in the dollar amount of such grants made from its sponsored funds in fiscal year 2019, for a total of $1.39 billion. That represents a 28% increase in the number of grants made over the previous year. The jump aligns with reports from other DAF sponsors. Fidelity, for example, reported a 48% increase in grantmaking from DAFs in the first half of 2019. And Schwab said it experienced a 33% increase in the dollars granted from DAFs in fiscal 2018.
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5 planning strategies in uncertain times

The COVID-19 pandemic, waves of civil unrest and rocky economic times have led to a tsunami of external and internal forces for which many nonprofits have found themselves unprepared. Organizations are struggling to continue serving their constituencies while keeping their employees safe and doors open to the extent permitted, all under the shadow of questions about funding. Continue reading 5 planning strategies in uncertain times

Classifying workers as employees or independent contractors

When bringing back workers, follow the rules

Part of your nonprofit’s entrance into the “new normal” nonprofit world may involve rehiring workers — and perhaps hiring some new replacements. For tax obligation purposes, you’ll be required to classify those workers as employees or independent contractors (ICs).
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Influencer marketing comes to nonprofits

As the COVID-19 crisis intensified earlier this year, pop singer Ariana Grande began taking to Twitter every week to share a list of organizations she was supporting to help provide relief to those hit hard. As a result, organizations such as The Bail Project, Fund for Families and The Mental Health Fund saw a significant jump in contributions and new donors.
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