This renewed focus may make Israeli charities that get funding from the US a little jittery – particularly following the IRS’s release of two private letter rulings (2010 and 2012) that denied exemption to new organizations seeking exemption for American charities that planned to do fundraising for Israeli charities. In any case, it should...Read more »
Once again, the Israeli nonprofit organization Magan David Adom (MDA) and it's American supporting charity, American Friends of Magen David Adom (AFMDA), are in the news after all five members of AFMDA’s executive board resigned, stating that they “refuse to abdicate or compromise in any way our fiduciary duty to AFMDA and its donors.” First,...Read more »
The fiscal requirements of an American charity have become more complicated in recent years. Increased scrutiny from the IRS, more intricate tax documentation, the recent economic crisis, and donors' need for transparency, are just a few of the challenges facing the sector. When a charity operates internationally these difficulties are only exacerbated. These global...Read more »
A charitable foundation’s worst fear is that its grant will be used for non-charitable purposes. The U.S. Internal Revenue Service (IRS) stresses that this risk increases drastically when dealing with foreign grant making and expenditures. The U.S. Department of the Treasury released its third and final version of its “Anti-Terrorist Financing Guidelines: Voluntary Best...Read more »
Nonprofit organizations have yet another hurdle to cross when applying for tax-exempt status. The Department of Homeland Security -- the U.S. Government Department that oversees counter-terrorism, border security, disaster response, and immigration -- is also an integral part of the tax-exempt approval process.Read more »
A list of great articles I've read and posted to Twitter between May 23 - June 5, 2010. This week's topics include: I.R.S.; Sector Trends; Social Media & Internet; Finance & Economy; and Potpourri.Read more »
Israeli charities (amutot in Hebrew) rely on donations from overseas – no secret there. Many foreign-based charities choose to create an American based nonprofit, more commonly referred to as a “Friends of” organization so donations can be tax-deductible vis-a-vis the American Federal Government. (In a previous post, I spoke about IRS trends when...Read more »
