IRS Provides New “Checklist” to Determine Whether a Foreign Charity Qualifies to Receive Tax-Deductible Gifts from Americans without Triggering an Excise Tax
For the first time, the IRS has clearly defined and expanded upon what tax attorneys, CPAs, and enrolled agents should take into consideration when facilitating cross-border gifts to foreign charities. Read the full article on Bloomberg BNA Software Be sure to listen to our Radio show, “What You Need To Know About: New IRS Guidelines… CONTINUE READING >>
Intermediary Organizations (IOs) and Corporate Giving: Partnerships That Can Add Value and Increase Impact
By Chris Park, Corporate Giving Consultant For the more than 25 years that I have worked in corporate philanthropy I have repeatedly had people comment, “How hard can THAT job be?” Yes, directing where a company donates its charitable contributions is a great job, but it isn’t an easy one. And it is made harder… CONTINUE READING >>
Granting to China Made “Easy?”
The China Overseas NGO Management Law, officially the “Law of the People’s Republic of China on Administration of Activities of Overseas Nongovernmental Organizations in the Mainland of China” went into effect January 1, 2017. The law requires that foreign NGOs coordinate their efforts with the Ministry of Public Security (MPS) and provides the framework within… CONTINUE READING >>
CAF America Hosts Diaspora Philanthropy Summit
On November 2nd-3rd, CAF America had the immense honor of hosting its Diaspora Philanthropy Summit at the organizational headquarters in Alexandria, Virginia. With CAF Canada and Boston University’s Pardee School of Global Studies African Studies Center as partners, the Summit brought together representatives from diaspora groups from across the world and served as an incubator for… CONTINUE READING >>
Donor Advised Funds for Retirees: Planned Giving and Bequests
We are about to witness the largest-ever transfer of wealth between generations. Charitable giving has been steadily increasing during the past few years and there is a strong chance that the wealth of the Baby Boomer generation will result in the largest philanthropic boom seen since the era of Rockefeller and Carnegie. The difference being… CONTINUE READING >>
CAF America Celebrates UN Day
On October 24, 2017, the CAF America team gathered in our headquarters in Alexandria, Virginia to celebrate the 72nd birthday of the United Nations. As an organization that helps Americans support important causes across the world, CAF America has been aligning our grantmaking with the UN’s Sustainable Development Goals (SDGs) since 2016. As a staff,… CONTINUE READING >>
Anti-Money Laundering Compliance for Grantmakers: The Good, The Bad and The Regulatory
A recent announcement by the Financial Action Task Force, or FATF, is giving the charitable sector new reason to celebrate. For years, governments have cautioned potential donors that the entire charitable sector, made up primarily of Nonprofit Organizations (NPOs), is at a greater risk for being used to commit money laundering and other illegal activities…. CONTINUE READING >>
Charity Spotlight: Haribon Foundation
In Philippine Tagalog, Haribon means King of the Birds. Within the archipelago nation, there lives a true Haribon – one of the largest, most powerful, and rarest birds in the world – the Philippine Eagle. The majestic bird makes its home along the lush forests and coastlines of the Philippine archipelago – one of the… CONTINUE READING >>
IRS Publishes New Guidelines for Equivalency Determination
Many international grantmakers in the U.S. were very pleased when in 2015 the Department of Treasury published its final regulations called “Reliance Standards for Making Good Faith Determinations.”
IRS Publishes New Guidelines for Equivalency Determination
Many international grantmakers in the U.S. were very pleased when in 2015 the Department of Treasury published its final regulations called “Reliance Standards for Making Good Faith Determinations.” With near lighting speed, for the IRS, just two years later on September 14th, 2017, the IRS has released Rev. Proc. 2017-53. These new guidelines clarify the… CONTINUE READING >>
IGS 2017: A Delegate’s Take
Author: Emily Bryant, Doctoral Candidate CAF America’s third annual International Grantmaking Symposium was held earlier this month in Boston. As a first time IGS participant (or “delegate,” as we’re called), I took in a great deal of valuable information and received the opportunity to network with others in the field. Though not a grantmaker myself… CONTINUE READING >>
Fiscal Sponsorship: What Does it Mean for You?
As the leader in global giving, CAF America often receives questions from both prospective donors and charities asking whether we offer fiscal sponsorship services. The existing definition of “fiscal sponsorship” leaves significant space for interpretation, however, it is a term that has been resurfacing with increased frequency. We want to take this opportunity to dig… CONTINUE READING >>
Wealth Strategy and Charitable Giving: A Conversation with Max Barger, Senior Wealth Strategist, PNC Wealth Management
CAF America: How often does philanthropy come up in the conversations that you have with your clients? Max Barger: While it varies based on the client’s needs, I always bring philanthropy up, especially when we are discussing legacy or tax-mitigation. One of my first successes at PNC was working with a family which was contemplating… CONTINUE READING >>
How to Give Abroad: The Mechanisms of International Grantmaking
As we have written before, Americans are increasingly looking internationally to put their philanthropic dollars at work. Once strategies were set, corporations, financial firms, community foundations, wealth advisors, and individual donors alike have found themselves searching for tax-effective solutions to give abroad. As you may guess, identifying the best options for international charitable giving is… CONTINUE READING >>
ED Certificate a License to Give?
Update: The IRS has since released Rev. Proc. 2017-53 that serves as final regulations on Equivalency Determination. The final regulations require that, among many other things, the party undertaking the ED also include anti-money laundering and counter-terrorism financing checks. This is a welcome addition to the equivalency determination process. Please see the excerpt below from… CONTINUE READING >>
