The Internal Revenue Service has issued interim guidance for determining the parking fringe benefit expenses paid or incurred after Dec. 31, 2017. The new rules will help organizations determine the amount of parking expenses that are now subject to unrelated business taxable income (UBTI) for not-for-profit organizations. The interim guidance helps organizations def [...]

Originally printed in February 2018 issue of Los Angeles Business Journal The 2017 Tax Reform Act that was passed on December 22, 2017 has significant changes that impact tax exempt organizations. As trusted advisors serving more than 100 nonprofit clients, GHJ has highlighted select provisions of the Act. Here is a summary of the changes: PROVISION: DISALLOWED FRI [...]

Excerpt from the GHJ Nonprofit Whitepaper, The Give and The Get: The Future of Philanthropy. Most important is to have the right board make-up. A successful board needs wide diversity of skills among its members, both in their backgrounds and in their experience. This variety will enable a more thorough thought process and promote healthy discussion. The result is an [...]

In our recently released whitepaper, The Give and The Get: The Future of Philanthropy, we noted that many nonprofits are now investing funds in a way that promotes equity. These investments are made with the intent to generate a measurable, beneficial social or environmental impact alongside a financial return. Of our survey respondents, 23% invest all or part of thei [...]

On August 3, 2017, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to clarify and improve the scope and accounting guidance for contributions received and contributions made, primarily as it relates to not-for-profit entities (NFPs). The proposed ASU covers two significant topics: Helps organizations decid [...]

By: Christian Tom What laws govern the ownership of artistic work? There have been numerous cases brought to court in the past few decades regarding the subject of legal title of artwork. One of the most famous and public cases was the Republic of Austria v. Altmann, in which the plaintiff, Maria Altmann, argued that five paintings, painted by Austrian artist, Gustav [...]

On the heels of statements made earlier this year regarding the repeal of the Johnson Amendment, President Donald Trump today signed an executive order that allows churches and other religious organizations to become more active politically. It also provides regulatory relief for organizations that object, on religious grounds, to a provision of Affordable Care Act th [...]

Private foundations enjoy the benefit of being tax exempt but often face more restrictions and scrutiny than public charities. GHJ Principal Lauren Haverlock takes an in-depth look at one of the most rigid restrictions for private foundations – self dealing. Click here to download our latest resource.

In our previous blog, No Strings Attached, we discussed the importance of unrestricted general operating support from grant makers. However, general operating support may not be the best – or only way – to assist every grantee organization. Instead of, or in addition to a grant, program-related investment (PRI) sometimes makes sense. If you haven’t ventured into prog [...]

There have been numerous discussions about the economic pros and cons of a phased-in $15 wage floor but not that many around the practical application, so I thought I’d share a recent situation I encountered. Background: On January 1, 2017, the minimum wage in California increased to $10.50 per hour for employers with 26 employees or more (a large employer). Questio [...]