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(9-07-10) The
European Association for Philanthropy and Giving has announced the appointment of Sue Daniels as Director. Sue has been serving as Interim Director of EAPG since February 2010. EAGP, headquartered in the UK, is a membership network that seeks to ensure the best possible practice in charitable giving and philanthropy in Europe. EAPG, PPP, and the
Canadian Association of Gift Planners are founding members of the
International Gift Planning Alliance.
(8-26-10) Americans give more to education than to any cause except religion. The new
Giving USA: Giving to Education 2010 report indicates that while giving to education generally outpaces inflation (growing an average of 2.7 percent per year over the last 40 years), it dropped 3.6 percent in 2009. The report, a key resource for benchmarking educational fundraising, includes gifts to education from the Million Dollar List™ and a roster of billion-dollar higher education campaigns.
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(8-30-10) The White House has released a report that outlines options for overhauling the tax code and includes a suggestion to "raise the standard deduction and reduce the benefit of itemized deductions" including the charitable deduction. The 126-page document, created by the President’s Economic Recovery Advisory Board, does not explicitly endorse any of the listed options and does not represent official White House policy.
(8-13-10) The IRS has revised and released Charitable Contributions -- Substantiation and Disclosure Requirements (Publication
1771, revised June 2010). The publication explains general rules and specifications for documenting charitable deductions. It also explains new guidelines that allow charities to electronically mail documentation to donors, as well as when an acknowledgment from a charitable organization is required for the donor to claim a tax deduction.
(8-12-10) New York Governor David A. Paterson has signed into law a revenue bill that limits the tax deduction for people with state adjusted gross income above $10-million annually—about 3,500 taxpayers in New York. Those residents are now able to write off only 25 percent of their charitable contributions on their state income taxes rather than the previous 50 percent.
(8-10-10) The Congressional Research Services has released a
report on new rules that will
require all organizations to file a Form 1099 with the IRS for
any payments totaling $600 or more made to for-profit vendors.
This includes both one-time payments and cumulative payments
over the year. This new reporting requirement was included in
the healthcare reform bill (P.L. 111-148) signed into law in
March. The new requirement takes effect in 2012, although there
are several bills and amendments pending in Congress that would
repeal the provision.
(8-3-10) President Obama has signed into
law
the Wall Street Reform and Consumer Protection Act. This
new law includes important language advocated for by PPP
that will exempt all “activities relating to charitable
contributions” from the jurisdiction of the
newly-created Consumer Financial Protection Bureau.
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(7-29-10) REGISTER NOW.
Click
here for more information and to register. The National Conference on Philanthropic Planning is a unique meeting place for all professionals who work together to make charitable giving most meaningful for their donors and clients. The conference provides more than 40 sessions that feature speakers, topics, education formats and networking opportunities designed to engage all partners in the philanthropic planning process. The National Conference on Philanthropic Planning will be held October 13-15 at the Buena Vista Palace in Orlando, Florida.
(8-23-10) Two programs have been added to PPP’s Virtual Seminar series:
Creative Bequests and the Unalterable Will: Soliciting and Drafting Bequests and
The Power of the Pyramid: How to Effectively Integrate Planned, Major and Annual Giving.
To learn more and register for these programs, click
here.
(8-17-10) The Joint Committee on Taxation released a detailed description (JCS-2-10) of the tax provisions in President Obama's proposed fiscal year 2011 budget, including descriptions of current law, relevant legislative proposals, and policy analysis. The report includes a discussion of the President's proposal to reduce the value of tax deductions for charitable donations as well as proposed changes to federal estate taxation and charitable bequests.
(8-9-10) Democratic leaders in both the Senate and House
have said they plan to consider legislation dealing with
the expiring 2001 and 2003 tax cuts when they return
from recess in September, although the exact timing is
still unknown. Many lawmakers have also indicated that
this broad legislation will include various "extenders"
provisions like the IRA Charitable Rollover as well as
an estate tax fix.
(8-9-10) Senator Charles Schumer (D-NY, a member of the
Senate Finance Committee, has introduced
S. 3134 which would permanently extend the IRA
Charitable Rollover. The underlying legislation
addresses misaligned currencies and has 18 cosponsors. |
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