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A Compliance Framework for Unrelated Business Income
Summary: Unrelated business income can create tax obligations when a nonprofit earns revenue from a regularly conducted commercial activity that does not directly advance its exempt purpose. A practical compliance framework helps leaders evaluate three areas: where the revenue comes from, whether an exclusion applies, and whether the activity creates additional reporting obligations. Investment income,…
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How Nonprofits Can Structure Executive Compensation to Meet IRS Standards
Summary: Nonprofits can support reasonable executive compensation through independent approval, appropriate market comparisons, and timely written records. The IRS reviews the full economic package and the board’s decision-making procedure in comparison with the compliance requirements of the Intermediate Sanctions Act. A well-documented framework protects charitable resources, reinforces board accountability, and supports public trust. Executive…
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Gift Acceptance Policies Protect Nonprofit Trust
Summary: Nonprofit gift acceptance policies help boards review donations before accepting conditions that may conflict with mission, operations, donor trust, or public reputation. Restricted gifts can support valuable programs when the terms fit the organization, and they can create strain when they limit future choices or conflict with community expectations. A generous offer can…
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New Overtime Rule Blocked For Now
New Overtime Rule Blocked For Now A federal court in Texas has placed a temporary injunction on the implementation of the Department of Labor’s new overtime rule, which was scheduled to go into effect December 1. The injunction does not mean the rule will never go into place, but it will delay implementation while the…
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Alert — New Federal Employment Law Overtime Regulations
A federal court issued a preliminary injunction on November 22, 2016 blocking implementation of the rule pending further review. The current overtime regulations remain in effect, including the exempt classifications, and we will provide updates as necessary. Client Advisory: FLSA Final Rule Expands Overtime Eligibility Today President Obama and Secretary of Labor, Thomas Perez, announced…
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Are your employees exempt from overtime pay?
The Department of Labor passed its Final Rule Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees under the Fair Labor Standards Act, effective December 1, 2016, which will raise the salary threshold below to $913 per week or $47,476 annually with automatic updates every three years. However, a federal…
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