This document discusses several key issues related to corporate governance for nonprofit organizations. It covers topics like tax exempt status, regulations from various oversight bodies, restrictions on activities for 501(c)(3) nonprofits, fiduciary duties of board members, conflicts of interest, and fundraising compliance. Proper governance is important for nonprofits to maintain their tax exempt status and fulfill their missions in accordance with applicable laws and regulations.
Management of non profit organisation module 2 uma kDr UMA K
This document discusses the functional management and accounting of non-profit organizations. It covers several key points:
1) Functional management refers to managing different departments like accounting, human resources, taxation, and finance. It also discusses the accounting system used by non-profits which includes a receipts and payments account and income/expenditure account.
2) Sources of funding for non-profits are discussed, including gifts/donations, grants, loans/equity, contracts, and trading. Each source has governance issues to consider.
3) Distinct features of non-profit accounting are covered, noting they prepare receipts/payments and income/expenditure accounts to show fund flows and financial position
The document discusses good governance practices for 501(c)(3) organizations, including having a clearly defined mission, appropriate organizational documents, an active and engaged governing board, policies around conflicts of interest and whistleblowers, financial oversight, and transparency. It provides details on each of these topics and notes they help ensure charities comply with tax laws, safeguard assets, and further their charitable purposes.
Side by side L3C vs. Non-Profit ComparisonJustin Fenwick
This document provides an overview and comparison of L3Cs and 501(c)(3) organizations. Some key points:
- An L3C is a for-profit entity that must significantly further charitable or educational purposes with no significant income production. A 501(c)(3) is a nonprofit tax-exempt organization.
- Both aim to have social and financial missions but L3Cs can distribute profits to members while 501(c)(3)s cannot.
- L3Cs allow for divided ownership and capital gains while 501(c)(3)s are governed by a board of directors.
- Hybrid models combining L3Cs and 501(c)(3)s can make sense when only part
The Social Enterprise Alliance North Texas Chapter convened entrepreneurs, nonprofit executives and social enterprise practitioners in June to learn about new legal and tax structures for social enterprise organizations. New hybrid organizations are adopting emerging social enterprise models, employing innovative strategies, and creating business alliances to drive positive social change. This interactive presentation helped nonprofit leaders and social entrepreneurs understand a myriad of legal, tax, and governance challenges in the Fourth Sector and learn ways to overcome them by using business efficiencies to achieve nonprofit goals. Marc Lane, a national-recognized expert on social enterprise law, led the discussion and offered his practical advice and answered questions about these issues and others:
The L3C business model and how social enterprises are already benefiting
Relieving legal tension between financial and social objectives
Understanding social enterprise legal issues
· Reducing the risks and financial burden of earned-income social ventures
· Leveraging foundations' "program-related investments" to attract private-sector capital for earned-income ventures
Converting nonprofit funders into social venture capitalists
Noted national author, attorney and entrepreneur/social entrepreneur and L3C guru discusses key issues to keep in mind when deciding whether to be a for-profit or a not-for-profit organization. He also discusses the lasted events in the growing L3C movement for the social sector.
Formalization of Informal Insurance Activities - Kathmandu NepalShayne Rose Bulos
This document discusses the formalization of informal insurers in the Philippines. It begins by describing common informal insurance activities like cooperatives and NGO programs. The motivations for beginning and continuing informally are then outlined, such as less regulation.
The advantages of formalizing are presented in three steps. Step 1 notes issues with the status quo like lack of accountability. Step 2 details benefits such as stronger customer protection and competitive rates. Step 3 explores reasons for resisting change such as perceived higher costs.
Finally, the vision for 2020 of insurance protection for every Filipino is stated. The regulations issued to encourage formalization through partnerships are summarized. Statistics on microinsurance growth from 2010 to 2015 are provided. Action plans for further
Private Offering Exemptions and Private Placements (Series: Securities Law Ma...Financial Poise
The private capital markets have become an increasingly important source of funding for both private and public companies alike. Today total capital raised through private placements surpasses total capital raised in public offerings. What’s more, in recent years legislation like the JOBS Act has made a number of significant changes to laws and regulations governing private capital markets. Consequently, understanding the myriad private offering exemptions and how to properly conduct a private placement is crucial for not only for lawyers, but also for executives, managers, directors and anyone involved in corporate finance transactions.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/private-offering-exemptions-and-private-placements-2020/
This document provides an overview of hedge fund activism and analyzes the abnormal returns and benefits for shareholders. It includes definitions of hedge funds and activist shareholders. Historically, legislation like Dodd-Frank and Sarbanes-Oxley fueled more active investing by hedge funds by limiting banks and increasing disclosure. The document discusses the "Wolf Pack" tactic used by some hedge funds to delay disclosure of their stakes in target companies. While some research has found benefits to target firms, others argue benefits do not extend to all stakeholders. The analysis will examine abnormal returns for different hedge fund investment strategies and whether shareholders overall benefit from activist investments.
Low-Profit Limited Liability Corporations (L3Cs) are a hybrid corporate structure that allows social enterprises to achieve charitable goals while earning a profit. L3Cs have tax advantages that make it easier to obtain Program Related Investments from foundations to fund their activities. They provide liability protections to owners like traditional LLCs but must have a primary charitable purpose with profit being secondary. Several states have passed laws allowing the formation of L3Cs to promote social entrepreneurship and innovation in achieving social missions.
The document discusses the current challenges facing 401(k) plan fiduciaries. It notes that fiduciaries are under increased pressure due to numerous lawsuits alleging excessive fees. The document recommends that fiduciaries delegate responsibilities, adopt passive investment strategies, provide full fee transparency to participants, offer education and advice programs, and regularly monitor fees and services. Fiduciaries need to ensure fees are reasonable and avoid potential conflicts of interest to limit their liability.
This document discusses insider trading rules and implications. It defines insider trading and outlines SEC rules prohibiting the use of non-public information to gain an unfair advantage. Violations can result in civil penalties, job termination, and criminal prosecution. Insider trading raises legal issues if individuals sue, and ethical issues regarding unequal access to information. It impacts markets by reducing efficiency and participation, and damages company reputation and public trust. Overall, regulations aim to promote fairness by requiring disclosure.
This document provides an overview of the Foreign Account Tax Compliance Act (FATCA) and how it applies to private client structures such as trusts, corporations, and partnerships. It discusses key FATCA definitions, how private structures can be classified as foreign or domestic, and as foreign financial institutions (FFIs) or non-financial foreign entities (NFFEs). It also summarizes the compliance options for NFFEs and FFIs, including identifying substantial US owners, becoming a participating or deemed-compliant FFI, and using sponsoring FFI arrangements.
This standard provides guidance on identifying and disclosing related party relationships and transactions. It defines key terms like related party, related party transaction, control, joint control, and key management personnel. It requires disclosures of relationships between parents and subsidiaries, key management compensation, and details of significant related party transactions. Certain disclosures are not required for government-related entities that are under common control or joint control of a government. The standard aims to ensure financial statements contain necessary disclosures about the possibility that the entity's financial position and profit/loss may have been affected by related parties.
The document provides a comparative analysis of the original and revised UAE Economic Substance Regulations. It summarizes the key changes made between the original law (CD 31 of 2019) and regulations (MD 100 of 2020) and the revised law (CD 57 of 2020) and regulations (MD 215 of 2019).
Some of the major changes included expanding the definition of licensee, adding definitions for key terms, clarifying the activities subject to economic substance requirements, streamlining the notification process, and specifying documentation required to be submitted including financial statements. Exemptions were also expanded and certain activities like operating leases were removed from being considered relevant activities. The role of the National Assessing Authority was clarified.
This document provides a summary of LIMRA's compliance and regulatory services in 2012, including key issues and new directions. It discusses LIMRA's focus on anti-money laundering training and testing, fiduciary standards training, and the NAIC annuity regulation. It also covers LIMRA's comments on NAIC draft white papers regarding social media compliance. New directions discussed include continued work on AML, fiduciary standards, NAIC suitability standards, and social media, driven by industry needs and research. The document encourages questions from attendees.
Not-for-Profit Compensation Controversies Continue to Add Fuel to the FireCBIZ, Inc.
Compensation in the not-for profit sector has been a consistent lightning rod for the IRS and other federal governing bodies, as well as for states, for many years.
The document discusses compliance and accountability standards for nonprofit organizations, including scrutiny from regulators and the public. It outlines duties of nonprofit boards, how oversight has increased in recent years, and policies organizations should have in place like conflict of interest and document retention policies. It also explains "intermediate sanctions" penalties the IRS can impose on individuals in nonprofits who receive improper benefits.
Similar to GuideStar Webinar (04/10/12) - Grantmaker Due Diligence in the Pension Protection Act Era (20)
This document provides information about how to prepare for #GivingTuesday, which is described as the most important fundraising day of the year. It outlines an agenda for a webinar on #GivingTuesday that will discuss joining the movement, maximizing impact through match gifts, fundraising on Facebook, and answering questions. Additional sections promote the benefits of an organization's GuideStar profile and share polling questions about experience with and planning for #GivingTuesday.
This document provides information on using Facebook tools to connect with donors and raise funds for charitable causes. It discusses overall charitable giving statistics in the US and Facebook's large user base. It then summarizes several Facebook fundraising and awareness tools like donate buttons, fundraisers, paid ads, Facebook Live, and #MyGivingStory campaigns. Specific examples are given of nonprofits that successfully used these tools to generate donations, go viral, and increase returns on ad spend. The webinar aims to help nonprofits better utilize Facebook for philanthropic purposes.
GuideStar held its quarterly Impact Call on February 9, 2016 to report on fourth quarter results and provide an outlook for 2016. Key highlights included:
- Programmatic results showed declines in profile updates but growth in higher-level Gold profiles and GuideStar for Grants adoption. Unique users and the data distribution network also grew.
- Preliminary financial results for 2015 showed revenue growth of 10% and expenses growth of 20%, with a break-even operating income expected given investments in staffing. The balance sheet remained strong.
- Lessons from stakeholder feedback will inform GuideStar's 2020 strategic plan to build the "scaffolding of social change." The call concluded with a Q&A session.
A Conversation on Making Data Driven Decisions Using Financial SCANGuideStar
Join Bunkie Righter from GuideStar as we learn how foundations and charities discover the indicators of financial health that matter most. Special guests Chris Percopo of The Leona M. and Harry B. Helmsley Charitable Trust, and Dennis Dolbee of Boys & Girls Clubs of America, will offer insight into how they use Financial SCAN to make better decisions within their organizations. Moderated by Ashley Early.
12/3/15 GuideStar Webinar -- A Sneak Peek at the 2016 Nonprofit Communication...GuideStar
Presenters: Kivi Leroux Miller, President of NonprofitMarketingGuide.com; Courtney Cherico, Content Marketing Associate, GuideStar USA (moderator).
View the recording of the presentation here: https://www.youtube.com/watch?v=SAVitgLd8Fw
New Nonprofit Profile Preview: Answering Key Nonprofit Performance Questions GuideStar
Preview the beta version of the NEW Nonprofit Profiles with GuideStar’s Director of Design, Sarah Madden and Product Marketing Manager, Krystal Kavney. Together, they will discuss how GuideStar’s redesigned Nonprofit Profiles are designed to help you answer key nonprofit performance questions in an interactive, data-rich user interface.
During the conversation, the panelists will explore the new GuideStar Nonprofit Profiles for several nonprofit organizations as they discuss how to answer key nonprofit performance questions such as:
• Which programs or services does the organization offer?
• Where do they provide their services?
• What kinds of results and impact are they achieving?
• How financially stable are they?
• What is the makeup of their board and staff?
Loosely based on the quarterly earnings calls held by publicly owned companies, GuideStar's Impact Calls are the first steps in addressing new definitions of transparency.
During this Impact Call, our Vice President of Products Evan Paul will provide a live demonstration of the beta version of the new, completely redesigned GuideStar Nonprofit Profiles (read more here: http://trust.guidestar.org/2015/10/29/redesigned-nonprofit-profiles-on-guidestar/)
GuideStar Webinar (11/5/15) -- Ask the Nonprofit Lawyer Everything You Wanted...GuideStar
Presenters: Jeffrey S. Tenenbaum, Esq., Partner and Chair of the Nonprofit Organizations Practice, Venable LLP; Cody Cassady, Marketing & Outreach Coordinator, GuideStar USA, Inc. (moderator).
6 Best Practices for Implementing a GuideStar API.GuideStar
This document provides an overview of GuideStar APIs and best practices for their implementation. It discusses GuideStar's mission to provide transparency for nonprofits. GuideStar collects data on 1.5 million nonprofits from various sources and reaches over 10 million annual visitors. The presentation recommends 6 best practices for API implementation: 1) use API keys, 2) prefer JSON format, 3) understand the query syntax, 4) use specific search fields, 5) key detail and exchange APIs by organization ID, and 6) design the charity check API around EINs. It aims to help users easily maintain nonprofit profiles and manage their brands through GuideStar's network.
Decoding the Nonprofit Compensation Mystery: Using the GuideStar Nonprofit Co...GuideStar
Do you know what a “rebuttable presumption” is?
Can you name the “disqualified persons” in your organization?
Do you know why these things are important?
If you answered, “No,” to any of these questions, this free webinar is for you. Join GuideStar’s Chuck McLean to find out how to stay compliant with IRS regulations using GuideStar’s annual Nonprofit Compensation Report.
The IRS, Congress, and donors are all taking hard looks at what nonprofits pay their leaders. Make sure you can justify your organization’s compensation practices to these important audiences.
Getting it Right: What You Need to Know about Nonprofit Executive CompensationGuideStar
Paying your executives too much can have negative consequences: public anger, loss of tax-exempt status, substantial fines on both the executives who receive the overpayment and the board members who approved it, attention from state attorneys general, and criticism from those who oppose your organization’s mission.
Underpaying your executives has risks too. It can cause valuable employees to leave for greener pastures and make it difficult to attract the best candidates to lead your organization.
What’s a nonprofit to do?
Presenters: Jeffrey S. Tenenbaum, Esq., Partner and Chair of the Nonprofit Organizations Practice, Venable LLP; Matthew T. Journy, Esq., Counsel, Nonprofit Organizations Practice, Venable LLP; Cody Cassady, Marketing & Outreach Coordinator, GuideStar USA, Inc. (moderator).
Updating Your GuideStar Nonprofit Profile is Easier Than EverGuideStar
This document discusses recent updates to GuideStar's nonprofit profiles that make them easier to update. It highlights intuitive navigation, clear progress tracking, and improved story sharing capabilities. Best practices for profiles include including multiple managers, adding a website, using impact examples from Independent Sector, and driving traffic to reach participation levels. The presentation provides an overview of profile updates, demonstrates them in action, reviews best practices, and allows for questions.
Slides nonprofits financial health using guide star powerful analysis for you...GuideStar
How can Financial SCAN help you and your clients gain insight into their financial health and that of their peers?
What financial metrics can be used for benchmarking? How can we determine the long-term stability and effectiveness of a nonprofit?
GuideStar’s Tim Reifschneider will spend 30 minutes answering these questions, as well as your own, in this interactive session.
Tim will interview Peter Kramer of the Nonprofit Finance Fund, who helped developed the product specifically for the Nonprofit sector.
The document summarizes the financial performance of an organization over multiple years from 2012-2015. It shows trends in unrestricted revenue, operating expenses, cash flow, net assets, and quarterly cash levels. Charts analyze areas like earned income, reliance on grants, and progress towards financial sustainability. The organization aims to reach a stage of funding operations, research, and growth through diversified earned income and grants rather than relying solely on grants or maintaining a fragile financial position.
Hidden Business Opportunities Within The Nonprofit Sector Using GuideStar Data.GuideStar
Bunkie Righter, Senior Director of Business Development at GuideStar, will be sharing insights on how to use GuideStar data for prospecting in the nonprofit sector. We will dive into the data fields, such as cash on hand, balance sheet information and details found on the tax document schedules which will help you analyze and better understand aspects of the nonprofit sector, as well as demonstrate ways to find that information yourself. For a recording of this webinar, please contact Ashley.early@guidestar.org
Want to Increase Funding for your NPO? Start by Increasing your TransparencyGuideStar
Did you know that your nonprofit already has a profile on GuideStar? Even if you haven’t uploaded the information, GuideStar has pulled your organization’s basic data from your publically accessible IRS Form 990 to create your own, unique profile on guidestar.org. Through updating your GuideStar Nonprofit Profile on our website, your nonprofit has an opportunity to increase transparency and share your full and up-to-date story with the world. Learn how!
Join us for our webinar to find out how you can update your profile and give your organization the potential to increase its funding through major foundations, corporate giving portals, and individual donors.
Want to Increase Funding for your NPO? Start by Increasing your TransparencyGuideStar
Did you know that your nonprofit already has a profile on GuideStar? Even if you haven't uploaded information, GuideStar has pulled your organization's basic data from your publicly accessible IRS Form 990 to create your own, unique profile on guidestar.org. Join us for our webinar to find out how you can update your profile and give your organization the potential to increase its funding through major foundations, corporate giving portals, and individual donors.
Presenters: Jasmine Marrow, Director of Nonprofit Strategy, GuideStar; Daren Nordhagen, President, Foundant Technologies; Dolores Estrada, Manager, Grants Administration, The California Endowment; Linda Oatley, Director, Partner Services Team, Global Givings
Finding Your Dream Nonprofit Job: How to Use GuideStar & Idealist.org to Find...GuideStar
Seeking a job in the nonprofit sector? Join our webinar to learn how Idealist and GuideStar can help you find your ideal position and verify the nonprofit for legitimacy. In this event, we will cover how to use Idealist and Guidestar to find and vet a job, internship, or volunteer opportunity; specific tips to improve how you search, advice on cover letters, resumes, and interviews; and general nonprofit resources that can aid you in your journey. Attendees will then have the opportunity to ask panelists their questions in a live Q&A session. Please join us to see how Idealist and GuideStar can help jump-start your career!
Your GuideStar Charity Check: Setting up Grantee Alerts and Nonprofit Watch-L...GuideStar
Join us for a free webinar, recorded on May 28th, 2015 and get better acquainted with GuideStar Charity Check, the tool that allows you to verify charitable status and monitor up to 20,000 nonprofits.
Did you know you can monitor up to 20,000 nonprofits and receive status alert e-mail alerts?
• Alerts include charitable or deductibility status changes, inclusion in the Automatic Revocation of Exemption list, IRS Business Master File (BMF) exclusion, Publication 78 exclusion, change in subsection code, change in foundation status, Internal Revenue Bulletin revocation and OFAC inclusion.
Join us to learn how GuideStar Charity Check enables your pre-grant due diligence in minutes.
GuideStar Charity Check is the only product in the world that is 100% compliant with all IRS requirements for determining a nonprofit's eligibility to receive tax-deductible contributions.
GuideStar Impact Call 5.11.15
Please join GuideStar CEO Jacob Harold, CFO James Lum, and Vice President of Strategy Mizmun Kusairi on Monday, May 11, at 2 p.m. EDT, for our second Impact Call of 2015. During the live discussion, Harold will highlight several of GuideStar’s partnerships and detail how they build sustainable collective impact. Listen in as Harold delves into the power and pitfalls of successful partnerships, including what it takes to establish a common vision, adopt a shared set of measurable goals, and pursue evidence-based actions that reinforce one another’s work and further the social sector.
Harold, Lum, and Kusairi will also discuss last quarter’s organizational and financial achievements, progress toward its $10 million transformational capital campaign, and more.
Please join us for this free moderated discussion about GuideStar’s social impact!
Impact Calls are designed to be interactive and responsive, rather than a one-way conversation. Half of the call will be reserved to answer questions from participants.
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
Kalyan Matkawala Milan Day Matka Kalyan Bazar Panel Chart Satta Matkà Results Today Sattamatkà Chart Main Bazar Open To Close Fix Dp Boos Matka Com Milan Day Matka Chart Satta Matka Online Matka Satta Matka Satta Satta Matta Matka 143 Guessing Matka Dpboss Milan Night Satta Matka Khabar Main Ratan Jodi Chart Main Bazar Chart Open Kalyan Open Come Matka Open Matka Open Matka Guessing Matka Dpboss Matka Main Bazar Chart Open Boss Online Matka Satta King Shri Ganesh Matka Results Site Matka Pizza Viral Video Satta King Gali Matka Results Cool मटका बाजार Matka Game Milan Matka Guessing Sattamatkà Result Sattamatkà 143 Dp Boss Live Main Bazar Open To Close Fix Kalyan Matka Close Milan Day Matka Open Www Matka Satta Kalyan Satta Number Kalyan Matka Number Chart Indian Matka Chart Main Bazar Open To Close Fix Milan Night Fix Open Satta Matkà Fastest Matka Results Satta Batta Satta Batta Satta Matka Kalyan Satta Matka Kalyan Fix Guessing Matka Satta Mat Matka Result Kalyan Chart Please Boss Ka Matka Tara Matka Guessing Satta M Matka Market Matka Results Live Satta King Disawar Matka Results 2021 Satta King Matka Matka Matka
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
Satta Matka Dpboss Kalyan Matka Results Kalyan Chart KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
SattaMatka, Boss Matka, Matka Boss, Satta Boss, Matka Satta,Sata Mataka, Satta Mataka, Satta Matka net, Satta Matka.com, Satta Matka Chart, Kalyan Matka Result, Today Matka Jodi, Kalyan Main Matka tips, Kalyan Matka Guru, Aaj ka satta Kalyan Jodi, today satta number, Satta Matta Matka, sata matka, satta result, rajshree matka result, satta Kalyan, satta matka com, satta matka mobi, Matka boss, sattamatka143, sattabatta, indianmatka, result matka, sattaka matka com, satta matka.net, Kalyan chart, Kalyan result, Kalyan penal Chart, Kalyan satta, satta matka Kalyan, satta matka com, satta matka net, satta batta, fix fix fix satta number, Satta Matka 143, ka matka, worli matka, matka bajar, Satta Matta Matka 143, satta chart, Satta Matka guessing, Satta, matka 420, Satta Matta Matka and Matka result, Satta Matka, all Matka, Setka Matka, Matta Matká, Satta m, india Matka, Matká Satta, Matka Boss otg, Indian Matka guessing, final ank,final ank open, final ank jodi, final ank guessing, Satta matka 420, matka satta 420,
#Satta Matka #Satta Matka Guessing #Kalyan Matka Guessing #Matka Guessing Forum #Matka Guessing 143 #Simple Matka Guessing #Matka Trick #Dpboss Guessing #Satta Matka 143 Guessing #Satta Matka God #Satta King Guess #Free Matka Guessing #Kalyan Matka Trick #Satta Matka Gods #Satta King Guessing #Satta Matka #Matka Guessing #Satta #Matka #Satta Matta Matka #Matka Result #Satka Matka #all Matka #Setka Matka #Matta Matkà #Kalyan Matka #Indian Matka #Sattamatka #Matka Satta #Satta.Matka #Kalyan Chart #Kalyan penal Chart #Matka Guessing #Matka Boss otg #Matka 420 #matka Indian Matka,Matka Boss Otg, Free Matka Boss, Matka 420 #Matka 786 #Kalyan Guessing #Satta Guessing #dpboss.social #dpboss.guru #dpboss.expert#dpbosss.com#SATTA_MATKA_KALYAN_HEAD_OFFICE #sattamatkaresult.in#dpboss #sattamatkaresult #Indiana #Setka #KALYAN#Mattapan #SATTA #satka #allnatural #SattaMatka #indianwedding #FreeGame #matta#kalyanmatka #matkaboss #Matka420 #indianMatka #KalyanChart #matkaotg #sattatrick #MAINBAZAR #kalyanjodichart #indiaMatka
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
➒➌➎➏➑➐➋➑➐➐ Satta Matka Dpboss Matka Guessing Indian Matka
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODNUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA Satta matka, Kalyan matka,matka guessing,fix matka,satta market,matka market,matka bazar,satta bazar,matka,satta matka result,matka game,matka result,Fastest matka satka batta,matka 420,Matka boss, Kalyan penal Chart,Tara matka, rajdhani night chart, golden dubai matka,sattamatka madhur satta,sattaking143 number weekly jodi,matka guessing final ank open close, Kalyan night chart Indian satta King Satta, Kalyan wapka mobi site100 tricks, fix fix fix satta nambar prabhat satta, Kalyan panel chart 2020 2010, SattaMatka, Main ratan panel chart, Mumbai panel chart, Milan panel chart, Kalyan night panel chart, Milan night panel chart, time bazar khiladi420, Sona Matka 111 420, Boss 440, Matka india net, weekly indian Satta fix ank otg, matka one, Simple Matka Guessing Param Matka guessing trick 143 surya Alex, satta, dpboss, SattaMatka, Boss Matka, Matka Boss, Satta Boss, Matka Satta,Sata Mataka, Satta Mataka, Satta Matka net, Satta Matka.com, Satta Matka Chart, Kalyan Matka Result, Today Matka Jodi, Kalyan Main Matka tips, Kalyan Matka Guru, Aaj ka satta Kalyan Jodi, today satta number, Satta Matta Matka, sata matka, satta result, rajshree matka result, satta Kalyan, satta matka com, satta matka mobi, Matka boss, sattamatka143, sattabatta, indianmatka, result matka, sattaka matka com, satta matka.net, Kalyan chart, Kalyan result, Kalyan penal Chart, Kalyan satta, satta matka Kalyan, satta matka com, satta matka net, satta batta, fix fix fix satta number, Satta Matka 143, ka matka, worli matka, matka bajar, Satta Matta Matka 143, satta chart, Satta Matka guessing, Satta, matka 420, Satta Matta Matka and Matka result, Satta Matka, all Matka, Setka Matka, Matta Matká, Satta m, india Matka, Matká Satta, Matka Boss otg, Indian Matka guessing, final ank,final ank open, final ank jodi, final ank guessing, Satta matka 420, matka satta 420,
#Satta Matka #Satta Matka Guessing #Kalyan Matka Guessing #Matka Guessing Forum #Matka Guessing 143 #Simple Matka Guessing #Matka Trick #Dpboss Guessing #Satta Matka 143 Guessing #Satta Matka God #Satta King Guess #Free Matka Guessing #Kalyan Matka Trick #Satta Matka Gods #Satta King Guessing #Satta Matka #Matka Guessing #Satta #Matka #Satta Matta Matka #Matka Result #Satka Matka #all Matka #Setka Matka #Matta Matkà #Kalyan Matka #Indian Matka #Sattamatka #Matka Satta #Satta.Matka #Kalyan Chart #Kalyan penal Chart #Matka Guessing #Matka Boss otg #Matka 420 #matka Indian Matka,Matka Boss Otg, Free Matka Boss, Matka 420 #Matka 786 #Kalyan Guessing #Satta Guessing #dpboss.social #dpboss.guru #dpboss.expert#dpbosss.com#SATTA_MATKA_KALYAN_H
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
Satta Matka | Satta Matta Matka 143 | Fix Matka | Indian Satta | Kalyan Chart | Fix Fix Fix Satta Namber | Kalyan Satta | Kalyan Matka | Kalyan Panel Chart | Kalyan Jodi Chart | Satta Result | Satta Live | Satta Guessing | Satta King | Satta 143 | Rajdhani
Satta Result | Matka Guessing | Sona Matka | Matka 420 | Kalyan Open | Matka Boss | Ka Matka | Dp Boss Matka | Matka Tips Today | Kalyan Today | Matka Result | India Matka
Main bazar chart Main bazar Jodi Chart Main bazar panel chart Main bazar Matka Main bazar Open Main bazar Result Main bazar Night chart Main bazar night Chart Main bazar Panel Chart 2023 Main bazar matka today Main bazar guessing
#mainbazartoday
#mainbazartrick
#mainbazar
#mainbazarmatka
#mainbazarchart
#satta #kalyantoday
#matka #taramatka #matkaboss
#matka420 #indiaMatka
#sattamattamatka143 #indianMatka
#kalyanchart #kalyanmatka
#kalyanjodichart
#sattabatta #matkaguessing
#indianmatka #matkafixjodi
Satta Matka Satta Matta Matka 143 Kalyan Chart Kalyan Matka Kalyan Satta Matka Fix Jodi Chart Kalyan Panel Chart Dp Boss Matka Guessing 143 24 Satta Batta Matka Boss Otg Kalyan night Chart Milan Night Panel Chart Satta Matka Result India Matka Boss Otg DpBoss Matka Satta Matka Indian Matka Indian Satta Matta Matka 420 Matka Guessing Tara Matka Boss Otg Kalyan Chart Fix Fix Fix Fix Fix Satta Namber Kalyan Jodi Chart Kalyan Satta Kalyan Matka Jodi Fix India Matka India Satta Satta Matta Matka 143 Satta Result Matka Result Satta 143 Satta Batta Kalyan Matka Fix Fix Fix Number
#KALYANTODAY
#KALYANSATTA
#SATTAMATKA
#KalyanJodiChart #KalyanChart #KalyanPanelChart
#mainbazartoday
#mainbazartrick
#mainbazartoday
#mainbazar
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
➒➌➎➏➑➐➋➑➐➐ Satta Matka Dpboss Matka Guessing Indian MatkaKALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
KALYAN MATKA | MATKA RESULT | KALYAN MATKA TIPS | SATTA MATKA | MATKA.COM | MATKA PANA JODI TODAY | BATTA SATKA | MATKA PATTI JODI NUMBER | MATKA RESULTS | MATKA CHART | MATKA JODI | SATTA COM | FULL RATE GAME | MATKA GAME | MATKA WAPKA | ALL MATKA RESULT LIVE ONLINE | MATKA RESULT | KALYAN MATKA RESULT | DPBOSS MATKA 143 | MAIN MATKA
Satta Matka Kalyan Satta Matka guessing Kalyan Open Kalyan Jodi Chart #kalyantoday #kalyantrick #kalyanopen #kalyanguessing #kalyanresult
kalyan chart kalyan matka satta matka kalyan open satta kalyan close kalyan today satta matka kalyan
kalyan matka trick sattamatka kalyan result sattamattamatka kalyan guessing today kalyan trick satta matka kalyan result कल्याण मटका satta matka trick result kalyan matka kalyan satta matka result today kalyan fix jodi sattamatkakalyanchart kalyan bazar kalyan fix jodi kalyan aaj ki jodi kalyan aaj ka open kalyan fix today
4. Today’s Objectives
1. Internal Revenue Code: Considerations for Grantmakers
Why Verify: Pension Protection Act of 2006
Supporting Organizations:
pp g g Relationships and Control
p
Expenditure Responsibility: Defined
Revenue Procedure 2011-33: Practical Implications
p
Due Diligence: Methods and Best Practices
2. GuideStar Charity Check: Anatomy of a Solution
y y
How it works and what it delivers
Failure to File Automatic Revocations
Why it’s 100% compliant
New advanced features: streamlining grantee management
3. Q & A 4
5. Internal Revenue Code
Impact of the Pension Protection Act of 2006 on
Grantmakers
Suzanne Ross McDowell ll
Partner
Steptoe & Johnson LLP
smcdowell@steptoe.com
5
#duediligence
7. Changes Made by the
Pension Protection Act of 2006
i i f
Private Foundations (PFs)
Grants to certain supporting organizations (SOs) do
not count towards minimum distribution
• Penalty: 30% of shortfall; must make correction
Grants to certain SOs require expenditure
responsibility
p y
• Penalty: 20% of grant on foundation; potentially 5% on
directors and officers; must make correction
Donor Advised Funds (DAFs)
Grants to certain SOs require expenditure
responsibility
• Penalty: 20% of grant on sponsor of DAF
7
8. What is a Supporting Organization?
Internal Revenue Code provides--
All 501(c)(3) organizations are either private
foundations or public charities
p
Private foundations are subject to greater regulation
Public charities include:
Schools, hospitals churches
Schools hospitals, churches, government units
Organizations that meet specific requirements for
broad public support
SOs
SO
All other 501(c)(3) organizations are private
foundations
8
9. What is a Supporting Organization?
(cont’d)
( ’d)
SO is a 501(c)(3) organization which is--
Classified as a public charity (not a PF)
Because it has a specified relationship with another
public charity (the supported organization)
Types of relationships
Type I – Parent-subsidiary
Type II – Brother-sister
Type III – Operated in connection with
• Functionally Integrated
• Not Functionally Integrated
9
10. Which Supporting Organizations
Require Expenditure Responsibility?
i di ibili
Type III Non-Functionally Integrated SOs
All other SOs if--
A disqualified person of the foundation
di lifi d f h f d i
making a grant to the SO directly or indirectly
controls the SO or a supported organization;
pp g ;
or
A donor to a DAF, or a person designated by
the donor to advise with respect to
distributions, directly or indirectly controls a
supported organization
10
11. What is Expenditure Responsibility?
Procedures designed to ensure that PF funds
are used for exclusively charitable purposes--
Pre-grant
Pre grant inquiry
Written grant agreement with the grantee
Grantee must keep funds separate from
noncharitable funds
Regular reports from the grantee to PF
PF reports to IRS on Form 990-PF that
expenditure responsibility requirements were
met
11
12. Which Grants Do Not Count Toward a
Private Foundation s Minimum
Foundation’s
Distribution?
Grants to--
Type III Non-Functionally Integrated SOs
All other SOs if--
A disqualified person of the foundation
making a grant to the SO directly or indirectly
controls the SO or a supported organization
12
13. When Does a Person Have Control?
No IRS guidance provides clear method for
determining whether control exists.
Control exists when one or more disqualified
persons or donors may, by aggregating their
votes or positions of authority require the SO
authority,
or supported organization to make an
expenditure,
expenditure or prevent the SO or supported
organization from making an expenditure.
See Notice 2006-109.
13
14. When is a Type III Supporting
Organization Functionally Integrated?
O i ti F ti ll I t t d?
Proposed Regulations issued on September 24 2009
24,
Until temporary or final regulations are issued, can
rely on Notice 2006-109 or Proposed Regulations
y p g
Notice 2006-109: SO is functionally integrated
• When the activities engaged in for or on behalf
of a supported organization(s) are activities to
perform the functions of, or to carry out the
p p
purposes of, such organization(s), and;
, g ( ), ;
• But for the involvement of the SO, would
normally be engaged in by the supported
organization(s) themselves.
i ti ( ) th l
14
15. When is a Type III Supporting
Organization Functionally Integrated?
(cont’d)
Proposed Regulations: SO is functionally integrated
If engages in activities substantially all of which
directly further the exempt purposes of the supported
y p p p pp
organization(s), by performing the functions of or
carrying out the purposes of the supported
organization(s); and
But for the involvement of the SO, would normally be
engaged in by the supported organizations
Includes owning and managing exempt-use property
Does not include fundraising or managing non-
exempt use property for a supported organization
Special rules for hospitals and governmental units
15
17. Step 1: Determine if Potential
Grantee i a 501(c)(3) Organization
is ( )( ) i i
Approved Methods
IRS Determination Letter
IRS Pub. No. 78
• Pub. No. 78 Weekly Updates in Internal
Revenue Bulletin
IRS Business Master File (BMF)
If grantee is not a 501(c)(3), no new rules
501(c)(3)
If grantee is a 501(c)(3), must determine if it
is an SO
17
18. Step 2: Determine if Potential
Grantee i a SO
is
Approved Methods
d h d
IRS Determination Letter
• Section 509(a)(1) and 509(a)(2) organization – not a
SO
• Section 509(a)(3) organization = SO
• IRS letter may be silent
BMF
• Direct access (Notice 2006-109)
• Access to IRS BMF data through third party such as
GuideStar (Rev. Proc. 2009-32; Rev. Proc. 2011-33)
( ; )
Pub. 78 does not include information
If grantee is not a SO, can make grant—no new rules
If grantee is a SO must determine the type
SO,
18
19. Step 3: If Grantee is a SO, Determine
the Type of SO
Method 1: IRS Determination Letter and BMF
Most Determination Letters don’t include Type
• Prior to 2006, no need for Type
May be based on
• Advance Notice of Proposed Rulemaking (ANPRM)
issued on Aug. 2, 2007
• Prop. Reg. issued on Sept 24, 2009
When Prop. Reg. finalized, rules may change
IRS modifying BMF to show type of SO
• Updated monthly
• Reflects changes that occur after determination letter
issued
i d
19
20. Step 3: If Grantee is a SO, Determine
the Type of SO (
h f (cont’d)
’d)
Method 2
Reasoned written opinion of counsel of PF or DAF
20
21. Step 3: If Grantee is a SO, Determine
the Type of SO (
h f (cont’d)
’d)
Method 3:
Good Faith Reliance on Written Representation
by Grantee
• Representation by officer, director or trustee
• Describes how officers, directors and trustees
of grantee are selected
• For Type I or II, references governing
document provisions establishing relationship
p g p
with supported organization
• For Type III-- identifies supported
organizations
i ti
21
22. Step 3: If Grantee is a SO, Determine
the Type of SO (
h f (cont’d)
’d)
Method 3 (cont’d)
PF or DAF must review
• Governing documents of SO and supported organization
• For Type III, representation from supported
organizations
o Re types of activities
o That, but for SO, supported organization would conduct
activities of SO
Note: cannot rely on Form 990 to determine Type
22
23. Step 3: If Grantee is a SO, Determine
the Type of SO (
h f (cont’d)
’d)
If grantee is a Non-Functionally Integrated
Type III SO, then PF or DAF must exercise
expenditure responsibility and grant does not
dit ibilit d td t
count toward non-operating foundation’s
minimum distribution
If grantee is a Type I, Type II or Functionally
Integrated Type III SO must determine if a
SO,
disqualified person of a PF or donor or
donor’s designee of a DAF has control
g
23
24. Step 4: Determine if Disqualified Person
or Donor has Control over SO or
Supported Organization
No IRS approved procedure; use definition in Notice
2006-109
Obtain list of supported organization(s)
Identify disqualified persons for a PF and donors and
their designees for a DAF
g
Determine if disqualified persons exercise control
over SO or supported organization
Determine if d
D t i donors/designees control supported
/d i t l t d
organization
Direct or indirect control
24
25. Step 4: Determine Control (cont d)
(cont’d)
If disqualified person or donor (or donor’s
designee) has control, then must exercise
expenditure responsibility and grant does not
dit ibilit d td t
count toward a non-operating foundation’s
minimum distribution
25
26. Summary
Type III which is Not Functionally Integrated
Grant does not count toward non-operating
foundation’s minimum distribution
PFs and DAFs must exercise expenditure
responsibility
Type I II or Functionally Integrated Type III with
I,
disqualified person or donor control
Grant does not count toward non-operating
foundation s
foundation’s minimum distribution
PFs and DAFs must exercise expenditure
responsibility
26
27. GuideStar Charity Check ®
Anatomy of a Solution
Pamela Jowdy
Senior Product Manager
#duediligence 27
28. Why Verify?
The Challenge
g
Three Unique Due Diligence To-Do’s:
To-Do:
To Do: Data Source:
Publication 78
Verify Current Charitable Status and
Internal Revenue Bulletin
Identify Supporting Organizations
with 509(a)(3) status IRS B i
Business M t Fil
Master File
Identify revoked and / or IRS Automatic Revocation of
reinstated organizations Exemption List
#duediligence 28
29. Why Verify: IRS Data Sources
Pub 78 and Internal Revenue Bulletin
Establish Tax Deductibility and Verify Current Charitable Status
IRS Publication 78:
Also known as Cumulative List of Organizations
Includes all organizations to which charitable contributions are tax deductible
Current tax-exempt status, percentage of contributions that are tax deductible
tax exempt
Deductibility limitations
Published monthly (new for 2012); published quarterly previously
IRS Internal Revenue Bulletin:
S te a e e ue u et
Also known as the ‘IRB’
Lists organizations whose charitable status has been changed or revoked
Updated weekly
Rev. Proc. 82-39, 1982-1 C.B. 759 Sec.3.01 and Sec.3.02 states that grantors “may rely on
the classification of an organization listed in or covered by Publication No. 78.”
#duediligence 29
30. Why Verify: IRS Data Sources
IRS Business Master File
Determine 509(a) Status
IRS Business Master File:
Lists all tax-exempt organizations registered with the IRS
Published monthly (not necessarily on the same day as Publication 78)
Includes reason for non-private foundation status, aka “public charity classification”
RReason f non-private foundation status = 509(a) status
for i t f d ti t t 509( ) t t
509(a)(1) and 509(a)(2):
A public charity that receives a substantial amount of public support to fund its operations
509(a)(3): Supporting Organization
A public charity that provides support to one or more publicly supported organizations
Must demonstrate that is has a particular type of relationship with the organization it
supports
#duediligence 30
31. Why Verify: IRS Data Sources
IRS Automatic Revocation of Exemption List
p
Identify Revoked Organizations
Failure to file annual return or notice with the IRS for three consecutive years
990, 990N, 990EZ or 990PF
Federal tax-exempt status revoked
p
Subsequently reinstated organizations remain on the Automatic Revocation List
Erroneously listed nonprofits and nonprofits that already hold an IRS determination
y p p y
of nonfiling requirement will be deleted from the revocation list
http://www.irs.gov/charities/article/0,,id=221600,00.html
Procedures for reinstatement and other helpful FAQs
#duediligence 31
32. How Big?
Data Source Size and Scope
p
IRS Business Master File: March 2012
1,560,339 total organizations
24,626 Supporting Organizations
408 include supporting organization type
73% Type I SO
14.7% Type II SO
6.9% Type III Functionally Integrated SO
5.4% Type III Not Functionally Integrated SO
~2,200 organizations reinstated from a previous BMF
~6,800 organizations not seen in any previous BMF
1,059,911 501(c)(3)s
960K Form 990 / Form 990 EZ / Form 990 N filers
98K Form 990 PF filers
#duediligence 32
33. How Big?
Data Source Size and Scope
p
IRS Publication 78: March 2012
825,612 total organizations
337,384 subordinate organizations covered under group exemption but not
listed in Pub 78 that GuideStar matches from BMF
IRS Automatic Revocation List: April 2012
443,447 total organizations
2,189 subordinate organizations covered under group exemption but not
listed in Pub 78 that GuideStar matches from BMF
#duediligence 33
34. Grants Administration Charity Check v1.5 Charity Check v2.0
Milestones 100% compliant with
IRS FAQ and
Revenue Procedure
•100% compliant
•Alerts
•Parent /
Parent
2009-32 Subordinate Linkage
1969 August
g March June June
2006 2007 2009 2011
Internal Revenue Code
Tax Reform Act Pension Protection IRS FAQ on IRS Revenue IRS Revenue
Act Business Master File Procedure 2009 32
2009-32 Procedure 2011-33
The legal framework Reliance
for the regulation of New requirements on Formalizes March Supersedes Rev
private foundations grants to certain Allows grantors to use 2007 FAQ Proc 2009-32
and public charities supporting third party resources
is established organizations to obtain required IRS Precedential Clarifies reliance on
[509(a)(3)] BMF information instrument upon BMF, Pub 78,
about a potential which compliance Revocations Lists
Definition of Type III grantee’s charity and grantmaking and maintains
supporting classification under teams can rely requirements for
organizations section 509(a)(1), (2) third party BMF
or (3) resources
Definition of Type III
functionally integrated
supporting
organizations 34
36. GuideStar Charity Check
An Integrated, One-Stop Verification Solution
g , p
How it Works
FTF Revocations
Incorporates Weekly Internal Revenue Bulletin
Marries Publication 78 data with IRS Business Master File data
Married, but never modified
Pub 78 Additions included
OFAC verification included (organization level)
501p suspension messaging included
p p g g
Parent – Subordinate matching (BMFPub 78)
Group Exemption Messaging 36
12 year track record of consuming and managing IRS data
37. GuideStar Charity Check
An Integrated, One-Stop Verification Solution
g , p
What it Delivers
Date and time stamp
Electronic or hard copy
documentation
Verify Current
Charitable Status
Latest Quarterly Pub 78
Weekly Bulletin Date
EIN Identify
IRS BMF Date Supporting
Organizations
Reason for Non-Private with 509(a)(3)
Foundation Status status
37
38. GuideStar Charity Check
An Integrated, One-Stop Verification Solution
g , p
Why it Works
Fully compliant with recently issued g
y p y guidance
from IRS concerning reliance on third-party
resources for IRS BMF data:
The grantees’ name, EIN and public charity classification
(aka “reason for non private foundation status”) under
non-private
section 509(a)(1), (2) or (3) is presented in the report
A statement that the information in the report is from the
most currently available IRS monthly update to the BMF,
y y p ,
along with the IRS BMF revision date
The date and time of the grantor’s search is included on the
report t
The third party IRS BMF data and report must be in a form
which the grantor can store in hard copy or
electronically.
electronically
38
39. Why Verify?
The Challenge: Recap
g p
Three Unique Due Diligence To-Do’s:
To-Do:
To Do: Data Source:
Publication 78
Verify Current Charitable Status and
Internal R
I t l Revenue B ll ti
Bulletin
Identify Supporting Organizations
with 509(a)(3) status IRS B i
Business M t Fil
Master File
Identify revoked and / or IRS Automatic Revocation of
reinstated organizations Exemption List
#duediligence 39
40. Charity Check User Experience
Two Clicks to Compliance
Pamela Jowdy
Senior Product Manager
GuideStar
#duediligence 40
41. Charity Check v2.0 New Features
E Mail Alerts
E-Mail
Customizable based on 9 different events
Upload up to 20K EINs
Create individual organization alerts
Actively track grantee status as events occur
Upload Excel files from MicroEdge GIFTS and other grants
management software solutions
Easy 3-step configuration
Single click access to Charity Check reports from Alert Emails
Single-click
Parent – Subordinate Linkage
Identify over 300K subordinate orgs not listed in Pub 78 but covered
under group exemption
Single click link to Parent Charity Check Report
Display of IRB Revoked Organizations
Condense 20+ minute manual search process to single click
Confirm compliance of past grants by viewing date of IRB revocation
Link directly to the IRB PDF for documentation
41
43. Charity Check v2.0 New Features
E Mail Alerts
E-Mail
Customizable based on 9 different events
Upload up to 20K EINs
Create individual organization alerts
Actively track grantee status as events occur
Upload Excel files from MicroEdge GIFTS and other grants
management software
Easy 3-step configuration
Single click access to Charity Check reports from Alert Emails
Single-click
Parent – Subordinate Linkage
Identify over 300K subordinate orgs not listed in Pub 78 but covered
under group exemption
Single click link to Parent Charity Check Report
Display of IRB Revoked Organizations
Condense 20+ minute manual search process to single click
Confirm compliance of past grants by viewing date of IRB revocation
Link directly to the IRB PDF for documentation
43
44. Common Questions
1. How quickly d
1 H i kl does G id St publish IRS revocations once posted?
GuideStar bli h ti t d?
2. Can I search for revoked organizations by EIN?
3. Do i t bl
3 D printable and PDF reports have a flag for revoked organizations?
d t h fl f k d i ti ?
4. Can I set up alerts or manage a watchlist?
5. Any
5 A progress on identifying S
id tif i Supporting O
ti Organization T
i ti Type??
6. Can grantors still rely on Letters of Determination?
7. What
7 Wh t are my verification options if I d not subscribe to G id St Charity Check?
ifi ti ti do t b ib t GuideStar Ch it Ch k?
8. What is OFAC and why is it important?
9. Is the Advance R li Process no longer in place?
9 I th Ad Ruling P l i l ?
10. Does the Charity Check web service include revocation data?
11. Do Premium P A Y G R
11 D P i Pay As You Go Reports include revocation information?
t i l d ti i f ti ?
44
45. The Letter of Determination
Isn’t this good enough?
g g
What it is
Static, historic snapshot
Only accurate at time of issuance
Confirms 501(c)(3) status
What it is NOT
Does not account for changes in
charitable status since date of
original issuance
g
Some letters include SO Type
(2006)
Does not reflect automatic
revocations
45
46. Exempt Organizations “Select Check”
Grantmaker Verification Options
IRS Publication 78 Online: “EO Select Check”
IRS website provides search
functionality for three databases:
Pub 78 data (eligible to
receive tax-deductible
contributions)
Form 990-N (e-Postcard)
filers
Automatic Revocation data
Can only search one database
at a time
Must
M t search IRB separately
h t l
No date or time stamp
No reinstatement flag
g
46
Source: http://apps.irs.gov/app/eos/
47. IRS Internal Revenue Bulletin
Grantmaker Verification Options
IRS IRB
Includes status changes and revocations
g
Published weekly in pdf and html format
Does not include EIN
Not searchable
Source: http://www.irs.gov/irb 47
48. IRS Business Master File
Grantmaker Verification Options
IRS Downloadable Business Master File
Draft of manual solution for
509(a)verification directly from
IRS BMF txt file
48
49. OFAC and SDN
Definition and Options
Office of Foreign Assets Control / Specially Designated Nationals
http://www.ustreas.gov/offices/enforcement/ofac/
p g
Source: Technology Affinity Group and Council on Foundations’ 2007 Grantmakers Information Technology Report, September 2007
49
50. Advance Ruling Process
Temporary and Final IRS Regulations
Issued September 9, 2008
Eliminated the advance ruling process for 501(c)(3) organizations reasonably expected to be publically
supported
IRS automatically classifies new 501(c)(3)s as public charities for first 5 years if can reasonably be expected to
be publically supported
Includes public charities whose advance ruling period has not yet expired or expired after June 9, 2008
Final Regulations issued September 8, 2011
Charity Check no longer publishes the Advance Ruling date in the body of the report
Footer messaging and link to IRS resource persists
50
http://www.gpo.gov/fdsys/pkg/FR-2011-09-08/pdf/2011-22614.pdf
51. Charity Check Web Service
XML* Data and PDF Report Delivery
*Extensible Markup Language =
easy way to share structured d t
t h t t d data
via ether
51
52. Premium Pay As You Go
Single reports without a subscription
commitment
52
53. Suzanne Ross McDowell
Partner, Steptoe & Johnson LLP
202.429.6209 | smcdowell@steptoe.com
Practice focuses on needs of exempt organizations
Member, IRS Advisory Committee on Tax Exempt
and Government Entities, 2004-2007;
Chair, Exempt Organizations Group, 2006-07
Chair, ABA Tax Section Exempt Organization Comm,
2011-present; Vice Chair, 2007-2011
Chair,
Chair Tax Section, District of Columbia Bar, 2005-2006;
Section Bar 2005 2006;
Vice Chair, 2004-2005
Fellow, American College of Tax Counsel
Associate Tax Legislative Counsel, Office of Tax Policy,
US Department of the Treasury, 1984-1987
1984 1987
Former SVP and Deputy General Counsel, National Geographic Society
Frequently speaks and writes about exempt organization issues
Listed in Chambers USA, America’s Leading Lawyers for Business, Best
Lawyers in America, and District of Columbia Super Lawyers
www.steptoe.com 53
64. International Grantmaking
Considerations
Does the foreign charity already have a Letter of Determination?
Exercise expenditure responsibility
Equivalency Determination
International Repository Project:
www.USIG.org [COF-sponsored website]
www.ngosource.org [international repository project website]
Become familiar with the USA Patriot Act
#duediligence 64
65. Supporting Organization Types
Options and Approaches
Supporting Organization Guidesheets published by IRS
GuideStar Charity Check policy and long term product vision
http://www.irs.gov/charities/article/0,,id=174956,00.html
Consult your legal counsel!
65