February 19, 2021

Virtual Currency Gifts: Should Nonprofits Accept Bitcoin?

As Bitcoin and other virtual currencies become increasingly popular, Section 501(c)(3) nonprofits may encounter a novel question when a donor offers to contribute Bitcoin. Should the nonprofit accept the Bitcoin as a tax-deductible charitable contribution? The short answer is likely, “yes.” Additionally, the nonprofit’s leaders should consider acceptance of such assets as part of a gift acceptance policy. They should also determine whether to sell the donated Bitcoin promptly (like many other donated assets) or to keep it as an investment.

Fundraising
January 29, 2021

Employment-Related Religious Rights and Responsibilities: EEOC

How do religion and the workplace fit together? The Equal Employment Opportunity Commission (EEOC), the federal agency responsible for handling employment-related religious discrimination claims, just updated its Compliance Manual on Religious Discrimination to extensively address this question in terms of both employers’ and employees’ legal rights. Among other things, the Manual defines religion itself, addresses important employment exemptions, and explains key concepts like harassment and required “reasonable accommodation.” The Manual also works through employees’ religious rights in the workplace, such as taking religious holidays, wearing religious garb, displaying religious symbols and literature, and sharing religious views with others.

Employment
January 15, 2021

Schedule B Donor Disclosures: Onward for SCOTUS Ruling

Many nonprofit leaders and tax practitioners have eagerly awaited news of whether the United States Supreme Court would consider a legal challenge to California’s requirement that 501(c)(3) public charities annually submit a list of their major donors to the California Attorney General, as contained in their IRS Form 990 Schedule B return. On January 8, 2021, the Supreme Court granted a petition for writ of certiorari in Thomas More Law Society v. Becerra, consolidating that case with Americans for Prosperity Foundation v. Becerra. In these troubled times of increasing polarization, protests, and “cancel culture” tactics, these cases represent extremely important constitutional freedom issues that will substantially affect public charity operations and associated privacy rights of their donors.

Tax Exemption

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