IN THIS ISSUE:
Policy Update: MNN and 16 Associations Unite to Oppose Property Tax Bill
Last week, the Massachusetts Nonprofit Network joined 16 other nonprofit organizations and associations in a letter to a conference committee in opposition to Section 127 of House Bill 4483,
An Act relative to job creation, workforce development and infrastructure investment
. This section of the bill would require nonprofit charitable corporations, public charities, and educational institutions to pay property taxes on a sliding scale for a period of four years. Currently, the bill sits before a six-person conference committee. The letter, which urges lawmakers to omit this section from the final bill, demonstrates a unified front against a provision that would harm the entire nonprofit sector. Continued updates on the status of the bill will follow. To read the full letter sent to the conference committee, click
Save the Date for Conference
Since 2008, the Massachusetts Nonprofit Network has brought together hundreds of nonprofit professionals and business leaders from across the Commonwealth for its annual Conference & Expo. This year's conference will be held on November 2, 2016 in Framingham and will be a day of inspiration, learning, and networking.
This year, we are very pleased to announce that Gururaj "Desh" Deshpande, President and Chairman of Sparta Group LLC and an investor whose entrepreneurial career spans the last three decades, will be the keynote speaker for the event. Drawing upon his extensive entrepreneurial experience, Dr. Deshpande will speak about the best of the past and what the nonprofit sector should prepare for in the coming days, months, and years.
Look for more information for the 2016 Conference & Expo later this week, including early bird registration information.
Future Philanthropy from 8 Philanthropic Leaders
In a recent article from The Nation, eight philanthropic leaders, including Craig Newmark, founder of Craigslist, and Darren Walker, president of the Ford Foundation, speak about the current state of giving in America and the future of philanthropy.
This piece, which is really a collection of short essays, serves as a cross section of new approaches to giving and what it will take to tackle the big issues of inequality that nonprofits seek to address. The solutions and opinions vary, with Jessie Spector, Executive Director of Resource Generation, going so far as to say that businesses should be "...putting themselves out of business in the name of ending wealth inequality" so that one day "philanthropy is not only unnecessary, but remembered as a bizarre and unfortunate creation of societies past."
Others, such as Steve Phillips, co-founder of PowerPAC, state that inequality in America is the direct result of public policy decisions and that philanthropists must take a leadership role in supporting the advocacy efforts of nonprofits to make the public more aware of what is at stake.
Craig Newmark offers encouragement to philanthropists and nonprofits: "You don't have to make a killing to make a difference." He adds, "if you are lucky enough to do well, keep sending the elevator down."
By Jeanie Gorlovsky-Schepp, CPA,
AAFCPAs would like to make our clients aware that the IRS is now taking a data-driven approach to reviewing the Form 990, Return of Organization Exempt From Income Tax, to scrutinize governance, accountability and oversight of exempt organizations. The IRS's Exempt Organizations (EO) compliance specialists are now using data queries to better focus their examination plans on areas or issues where there may be greater risks of non-compliance.
IRS Exempt Organization Focus Areas for 2016
Sunita Lough, the IRS tax-exempt/governmental entities (TE/GE) commissioner, recently released a list of priorities for fiscal year 2016. The TE/GE has identified the following five significant compliance issue areas related to exempt organizations:
- Exemption: Issues include non-exempt purpose activity and private inurement;
- Protection of Assets: Issues include self-dealing, excess benefit transactions, and loans to disqualified persons;
- Tax Gap: Issues include employment tax and Unrelated Business Income Tax liability;
- International: Issues include oversight on funds spent outside the U.S., including funds spent on potential terrorist activities, exempt organizations operating as foreign conduits, and Report of Foreign Bank and Financial Accounts (FBAR/FinCen Form 114) requirements; and
- Emerging issues: Issues include non-exempt charitable trusts and IRC 501(r).
Grant & Award Opportunities
Trainings & Events
*Discounts for MNN members
Building Impact is thrilled to again be partnering with Technology Underwriting Greater Good to match 1,500 volunteers to service projects for the 6
annual Tech Gives Back city-wide day of service on Thursday, October 20, 2016! The day will feature volunteers from Boston's budding technology industry who will be connecting to the communities in which they work and live via service. Volunteers are available for any activity that will positively support your organization (i.e. painting, planting, beautification, operational, cleaning, organizing, etc). Here's a
highlighting some of the great projects from 2015. Also, funding is available to purchase supplies! If you are interested in learning more about Tech Gives Back, please click
and complete this brief form by Friday, August 5, or email Building Impact Director of Nonprofit Programs, Robert Kordenbrock, at Robert@BuildingImpact.org.
The Latino Legacy Fund, a unique partnership of local Latino philanthropists and leaders, the Boston Foundation and Hispanics in Philanthropy, is the first Latino-focused fund in the Greater Boston area. Its mission is to create and maintain a permanent endowment to strengthen the diverse Latino community of Greater Boston and contribute to the region's civic vitality by supporting issues and organizations that advance the socio-economic status of Latinos-while enhancing the leadership capacity of the entire Latino community. Click here to learn more about the organization and to learn about current grant opportunities.
Citizens Bank is partnering with NECN for the 2017 Champions in Action Program, a unique initiative designed to provide significant financial, promotional, and volunteer support to nonprofits organizations working to address issues in culturally diverse neighborhoods. Each Champion will receive $35,000 in unrestricted funds from Citizens Bank, volunteer and promotional support, coverage from NECN, and so much more. The current social concern is Addiction Prevention & Treatment Services. Applications are open and the deadline is July 29. Click here to become a Champion.
New & Returning Affiliate Members
*Special discount for MNN members
MFA - Moody, Famiglietti & Andronico, LLP
Since its inception, MFA has worked with nonprofit organizations to identify practical opportunities for growth. A solid comprehension of the unique accounting, financial and filing requirements of nonprofit organizations allows them to offer a full complement of services. Partnering with MFA gives nonprofits accesses to financial insights and deep industry knowledge that can hel
p organizations develop in ways that will better support their mission.
*discount off standard rates
New & Returning