Achieving Excellence in Fundraising. Группа авторов. Читать онлайн. Newlib. NEWLIB.NET

Автор: Группа авторов
Издательство: John Wiley & Sons Limited
Серия:
Жанр произведения: Экономика
Год издания: 0
isbn: 9781119763765
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applicable to its endowments. While private foundations are legally required to spend at least five percent of their assets each year (with some exceptions), a public charity endowment does not have a required spending rate. Pursuant to UPMIFA, it is the duty of the board of directors to spend or accumulate assets as it deems prudent, balancing the short‐term support from the endowment with a goal of generational equity.

      Percentage Requirements

      Percentage limitations imposed by state law on fundraising costs have been subject to federal and state scrutiny with courts holding that solicitors are not required to affirmatively disclose fundraising costs while making the solicitation. However, states may prosecute fraudulent practices in cases where donors and prospects are not accurately informed of how much of their gifts will be paid to the fundraising solicitors (Fishman et al. 2015).

      Telemarketing

      Many states through the attorney general or other office maintain “do not call” lists to prevent unwanted solicitation telephone calls. Some states exempt charitable organizations from the do not call list if the nonprofit uses its own full‐ or part‐time staff or volunteers to make the solicitation calls.

      Types of Public Benefit Charities

      The IRC allows for two types of public charities. One type must pass the “public support test,” which requires that one‐third of the total support of the organization be derived from a broad number of donors. Community foundations are an example of this type of public benefit charity. The second type qualifies as a public benefit charity without the public support test and includes churches, schools, hospitals, medical research organizations, state university foundations, and governmental units (see IRC Section 509(a)(1)).

      Supporting Organizations

      Supporting organizations are not required to satisfy the public support test. Supporting organizations are created to support the charitable mission of another public benefit charity. From a fundraising perspective, supporting organizations can be helpful in several special circumstances such as accepting specific assets that may carry potential liability (e.g., real estate), accepting large gifts to avoid violation of the public support test by the supported organization, or as an “incubator” for a charitable program that may ultimately evolve into a public benefit charity.

      Member Benefit Organizations

      Qualified member benefit organizations include civic leagues, business leagues, chambers of commerce, real estate boards, social and recreational clubs, fraternal benefit societies or associations, and credit unions. A member benefit organization is not taxed, but gifts to these organizations generally do not qualify the donor for an income tax charitable deduction. Receipts for gifts to these organizations must disclose that the donor will not qualify for an income tax charitable deduction. However, there are a few exceptions for certain member benefit organizations. The income tax deduction is available for gifts to veterans' organizations, volunteer fire departments, fraternal societies for charitable purposes, and cemetery companies (see IRC Section 170(c)(3)‐(5)).

      Unrelated Business Taxable Income and Fundraising

      Tax‐exempt organizations do not normally pay income tax on fundraising or other revenue. However, revenue generated by the organization from a trade or business that is regularly carried on and not substantially related to the charitable mission will be taxed as unrelated business income (UBTI).

      Exceptions to UBTI include revenue generated from qualified sponsorship payments so long as the donor recognition provided to sponsors does not become advertising. Many charitable organizations utilize sponsorships to meet resource development goals. Advertising that does not qualify as sponsor recognition includes endorsements, an inducement to purchase, and/or messages containing qualitative or comparative language, price information or other indications of savings or value. Other exceptions to UBTI include passive investment income on a charitable endowment, rental on real estate, and bingo game revenue. Other charity gaming activity may be taxed. (See IRS Publication 598, Tax on Unrelated Business Income of Exempt Organizations.)

      Donor Privacy and Confidentiality

      Federal and state privacy laws require the protection of donor privacy and confidentiality. State laws that allow access to public records may apply to donor records of organizations that receive tax revenue. While the IRS 990 form is available to the public, donor names in Schedule B or elsewhere in the 990 are not public information and may be redacted before sharing with the public.

      Some public university foundation records have been deemed accessible by the public pursuant to state law (see the website of the Council for Advancement and Support of Education). Other laws that may impact donor records include the Family Educational Rights and Privacy Act (FERPA) and the Health Insurance Portability and Accountability Act (HIPAA).

      The following summarizes the income tax benefits and annual limits of charitable gifts. The deduction is available for the year of the gift and up to five more years to carry‐over excess deduction each year.

      Gifts to public charities by individuals:

       Cash gifts: Limited to 60 percent of Adjusted Gross Income (AGI)/100 percent in 2020 and 2021.

       Cash gifts in 2020 and 2021 also qualified for a universal above‐the‐line deduction of $300 single or $600 married (2021 only).

       Long‐term noncash gifts: Limited to 30 percent of AGI for fair market value (FMV) or 50 percent for cost basis.

       Short‐term noncash gifts: Limited to 50 percent of AGI for cost basis of the gift.

       Ordinary income/Tangible property for unrelated use: Limited to 50 percent of AGI for cost basis of the gift.

      Gifts to public charities by corporations:

       Cash gifts: Limited to 10 percent of Taxable Income/25 percent in 2020 and 2021.

       Gifts