The IRS in the News

News stories abound about the IRS’s targeting of organizations seeking tax exemption with the phrase “tea party” and other conservative words in their corporate name.

For a full copy of the Inspector General’s Report, click here.  

Americans Want Charitable Deductions Protected

A recent poll underscores the continuing support the American public has for sustaining deductions for charitable contributions. The study, reported in the March 1, 2013 Non-Profit Times, found that 75 percent of those polled valued deductions for charitable contributions, with 61 percent indicating strong support.  Furthermore, support for the continuing deductions was broad-based, spanning all geographic areas, and a wide range of socio-economic groups.

Indemnification – Huh?

Has that ever been your response, when reading about indemnification for nonprofits? Simply explained, indemnification is the legal procedure by which a corporation reimburses directors, officers, and other agents for liabilities, expenses, and other losses incurred in the event of a lawsuit or other proceeding.   This important protection should provide great comfort to the organization’s leaders.