4 Important Things in the New Tax Law You May Have Missed
These provisions didn’t make headlines, but they could have a big impact on charities.
By Megan O’Neil
Contributor
Federal Court Says GuideStar Was Within Legal Bounds to Add ‘Hate Group’ Labels
The charity-information site won a major victory Tuesday after the conservative Liberty Counsel accused it of defamation.
By Timothy Sandoval
Contributor
In other articles, a report gives more details about sexual-harassment allegations against Garrison Keillor, and Mr. Keillor responds; Ecolab makes a $25 million foundation gift; the Mayo Clinic gets $20 million for a building that’s under construction; Colin Kaepernick and Snoop Dogg give $35,000 to fight police brutality; and much more.
Daily News Roundup: Conn. Theater Leader Accused of Sexual Misconduct
in other articles, the University of Texas is the richest public university in the country, but very little of its endowment goes to financial aid; a Silicon Valley program to educate the world’s poorest children has become a lightning rod over its teaching methods and more; President Trump has pursued two-thirds of the policies recommended by the conservative Heritage Foundation; and much more.
Financial Stress a Constant for Social-Service Groups, Says New Report
One in eight is technically insolvent at a time when services are needed more than ever due to an aging population, government cutbacks, and the opioid crisis, among other factors.
By NICOLE WALLACE
Features Editor
Daily News Roundup: 42 Richest People Worth as Much as 3.7 Billion Poorest
Oxfam published a report on the inequality gap to coincide with the first day of meetings of the World Economic Forum in. In other news, a new project has raised $30 million to provide bail money to people who can’t afford it; a nonprofit is helping provide advance grants for military death benefits during the government shutdown; a nonprofit links immigrants with lenders to start businesses; Apple is working with the Malala Fund to fight for girls’ education; and much more.
Daily News Roundup: Tax Law Will Hurt Affordable Housing
In other articles, an opinion piece says that nonprofits are a “shadow safety net” for problems the government should be taking care of; a Trump appointee to the Corporation for National and Community Services resigned after a report that he made racist, sexist, anti-Muslim, and anti-LGBT comments on the radio; it’s still unclear how much of the surplus money raised for President Trump’s inauguration went to charity; and much more.
Daily News Roundup: Endowment Tax May Hit Small Colleges Harder
In other news, Oregon State gets a $50 million pledge for veterinary medicine; nonprofits anxiously await the new Facebook news feed, fearing it will decrease their reach; Stephen Curry and Kevin Durant have given to Colin Kaepernick’s effort to raise money to help troubled communities; Jeff Bezos’s $33 million gift set him apart from her peers; and more.
What Nonprofits Do — Good and Bad — When a Shutdown Looms
Some find emergency funding, figure out what programs will be affected, and keep the staff informed. Others wait and worry.
By Ariella Phillips
Contributor
Calif. Foundations Move $40 Million Fast to Counter Trump on Immigration
A group of grant makers is doing rapid assessments of nonprofits’ needs and pushing cash out the door fast, sometimes within days, and is asking others nationwide to get on board.
By Alex Daniels
Contributor
Daily News Roundup: $75 Million Gift Will Double Philosophy Dept. at Johns Hopkins
The donation comes from alumnus Bill Miller, who beat the S&P 500 for 15 years in a row. In other articles, a top financial investor is telling companies they need to do good in society to get the support of BlackRock; actor Timothée Chalamet is donating his salary from a Woody Allen film to charity; a food-stamp program is making produce more affordable; and more.
Daily News Roundup: Gates Foundation Is Paying Off Nigeria’s Polio Debt
The foundation will pay off a $76 million loan the country got from Japan in 2014 to aid the fight against polio. In other articles, the tax code benefits real-estate investors but is bad news for art collectors; the law is also a “one-two punch” for nonprofits and for giving; the Pittsburg Foundation files a “friend of the court” brief in a gerrymandering case; and much more.
Tax Law Eliminates Giving Incentive for 21 Million Americans, Study Says
The number of taxpayers who itemize under the new law will plunge from 37 million to about 16 million in 2018, according to the Tax Policy Center.
By dan.parks and Megan O’Neil
Postal Rates Would Increase for Nonprofits Under Proposal
Charities have until March 1 to comment on the proposed changes.
By Timothy Sandoval
Contributor
Daily News Roundup: Jeff Bezos Is Giving $33 Million for Dreamer Scholarships
The money will go to TheDream.US, a nonprofit that former Washington Post owner Don Graham founded. In other news, advocates worry that the tax bill will make affordable housing more scarce; Treasury Secretary Steven Mnuchin says deducting property taxes as charity is “ridiculous"; before Eric Trump resigned from his charity, he continued to host events that benefited his father’s companies; an anonymous donor gave $100 million to a mental-health and addiction center; and much more.
Daily News Roundup: Charities Fear Drop in Donations From Government Workers
Giving to the combined federal campaign has been on the decline since its peak of $282.6 million in 2009. In other news, the Trump administration wants to revamp regulations on bank lending to the poor; the GOP tax plan’s levy on university endowments will hurt colleges mostly in Democratic areas; World Vision’s president plans to step down at the end of the year; and more, including articles on the Metropolitan Museum of Art’s new admissions policy.