In a previous post, we introduced the concept of "nonprofit vs. charitable" under U.S. tax law. In this post, we will further expand on the definition of charitable, and will specifically focus on income-generating activities — a common source of confusion with respect to charitable activities.
A donor advised fund (DAF) is a separate fund or account held and controlled by a 501(c)(3) public charity. The donor or a designee of the donor has advisory privileges over the use of the funds.
The Internal Revenue Code (IRC) defines a DAF as
Participants at the International AIDS Conference that took place in Durban, South Africa, July 2016. Thanks to their organizations and the massive participation of civil society organizations, policymakers, scientists, and governments, the conference was a great success. (Image: Tomas Chang Pico/ Hivos)
As previously posted on our blog, the IRS recently issued Notice 2017-73, a “Request for Comments on Application of Excise Taxes With Respect to Donor Advised Funds in Certain Situations.” The IRS Notice primarily summarizes three new regulations that the IRS is proposing to introduce regarding the operation of DAFs by 501(c)(3) sponsoring organizations.
Twenty-six years ago, five women in Mexico identified reproductive rights as a public health and social justice problem that needed to be addressed through bioethical, social, and legal advocacy. So they decided to do something about it and founded the Information Group on Reproductive Choice (GIRE). Since then, GIRE has grown into a leading reproductive rights organization with a staff of 40 specialists in different disciplines, all committed to the defense of women's human rights.
We are thrilled to announce that Kevin Ryan will now assume the role of general manager for NGOsource. Kevin has done a fantastic job as NGOsource's director of operations and is now responsible for all systems, processes, and platforms related to NGOsource. He and the NGOsource operations team provide support and act as the infrastructure that enables NGOsource's legal team to process equivalency determinations with breakneck speed, unmatched depth, and exceptional quality.
As NGOsource embarks on its 5th year anniversary, we are pleased that we have facilitated well over an estimated $1 billion in international philanthropic giving and received our 4,000th ED request! NGOsource continues to support international grantmaking at an exponential rate - it took us three and a half years to hit 2,000 requests, 9 months to reach 3,000, and less than six months to eclipse 4,000 requests. This is all due to the commitment that our grantmaker members have made to NGOsource’s shared repository model and the sector on the whole.