Written by Mark Memmott on NPR on 4/2/13. The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year. That allowed it to pay $11.6 billion in dividends [...]
Thanks to Nonprofit Quarterly for pointing this out! Some of the most stultifying reading—and the most important—in the world of nonprofit financial management comes to us when the Office of Management and Budget (OMB) announces proposed changes to OMB circulars. In January, OMB announced proposed changes for OMB Circular A-133, the requirements of audits on [...]
From Nonprofit Quarterly: As we head into tax season, many nonprofits get questions about whether volunteer time is deductible. Nonprofit Quarterly offers an article explaining why volunteers may not take tax deductions for their time. Mileage for time spent volunteering for a charitable organization is deductible, though what rate is appropriate continues to be the [...]
Our colleagues at the National Council of Nonprofits shared this news from D.C. Political Positioning, Not Policymaking With the political campaign season heating up, partisans in Congress appear to be focusing on preening for their base voters rather than making any meaningful progress on the great issues facing the nation. Last week, the House voted [...]
Presented by our partner IdeaEncore, a nonprofit resource center and a community of people who exchange information, provides insightful and easy-to-consume information shared by leaders in the nonprofit sector. ————- Performance Audit: City Heights Community Development Corporation Shared by University of San Diego (Free) ————- Interagency Agreement Shared by Heuristics Marketing Consultants ($25 or $8 [...]
Press play on the screen below for the complete recording February 27. 2012 Legislative update with Rep. Chris Pearson (P) of Burlington, House Committee on Health Care, Rep. Michele Kuppersmith, (D) of South Burlington, Clerk of House Business & Economic Development Committee and Rep. Linda Waite- Simpson, (D) of Essex, House Judiciary Committee. Channel 17′s [...]
“I Survived an IRS Audit” by Steve Zimmerman appears in Blue Avocado — a nonprofit online magazine for community nonprofits, published for free every third Tuesday to more than 50,000 subscribers. Uh oh. We are all afraid of getting audited by the IRS, but we don’t really know what would happen in one. Here is [...]
Kerry J. Claffey of CopperHill Tax Services shared update about rooms & meals and sales taxes via the Upper Valley Nonprofit ListServ—a discussion list is provided at no cost as a community service by ValleyNet. Visit http://www.valley.net for more information on this non-profit community organization. Kerry can be reached CopperHill@myfairpoint.net, 802-765-4019. Q. Are nonprofit organization’s [...]
Reported on November 30, 2011 by our colleagues at Vermont Digger. Alan Panebaker, November 30, 2011 At the federal and state level, businesses have lobbied to ensure new health care laws don’t force them to bear more than their fair share of the burden for expanded insurance coverage to more Americans. But as new federal [...]
Michael Costa of the Vermont Department of Taxes let us know about upcoming “listening sessions” on Health Care Reform Financing. The Agency of Administration is hosting four listening sessions across Vermont to help inform the design of future health care reform financing plans. These sessions will include presentations on the challenges facing Vermont’s health care [...]
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