Don’t Roll the Dice: Rules for Charitable Gaming Activities

Gaming can seem like an appealing and low-cost option for boosting nonprofit revenues. But bingo, poker tournaments, raffles and the like are subject to some strict tax rules and local laws where noncompliance could lead to penalties and even personal liability for board members. Here’s what you need to know: Unrelated business income Income from…

COVID-19 Renews Focus on Fundraising Efficiency

COVID-19 has hit many nonprofits with a double whammy — fundraising has become more important due to a drop-off in revenues, yet the need to cut expenses makes it harder to fundraise. Nonprofits can’t afford to waste a single dollar on ineffective methods. But focusing solely on cost when evaluating different approaches generally isn’t the…

GoFundMe Charity to Shut Down

GoFundMe Charity, the fundraising-dedicated website launched in November 2019, is now scheduled to shut down on September 30, 2021, when it will merge with GoFundMe.com. The last day to start a new fundraising campaign on the platform is June 30, 2021. Nonprofits have through December 31, 2021, to view and export their donor and fundraiser…

COVID-19 Relief Benefits Donors

The COVID-19 relief legislation signed into law in December 2020 includes some provisions that could be a boost to donors and the nonprofits they support. For example, it extends the temporary “universal charitable deduction” for taxpayers who don’t itemize their deductions through 2021. The deduction was limited to $300 for cash contributions to qualified charities…

Surge in virtual events lowers revenue expectations

The COVID-19 pandemic has shifted fundraising from traditional events, such as annual galas and walkathons, to virtual happenings. But, according to research from the Peer-to-Peer Professional Forum, the revenues raised from these events often fall below projected revenues. The organization surveyed 120 North American nonprofits and found two-thirds already had hosted a virtual campaign in…

Are You Prepared to Accept Cryptocurrency Gifts?

When cryptocurrencies first came on the scene, they were widely viewed as a fringe development, primarily of interest to nerds, doomsday preppers and criminals. Now they’ve moved closer to the mainstream, even prompting the IRS to add a question to its Form 1040 about transactions with virtual currencies. As more individuals and businesses have begun…

Majority of Nonprofits Worldwide Report Donation Decline

A survey conducted by CAF America, a global nonprofit grant-making organization, found that 73% of the 880 organizations in 122 countries queried have seen a decline in contributions due to the COVID-19 pandemic. Half of those surveyed from April 30 through May 6, 2020, indicated that they expect to see revenue decline by more than…

Secure a Corporate Sponsor

These best practices could bolster your chances Corporate giving has experienced solid growth in the last few years, according to recent editions of “Giving USA,” an annual report on philanthropy from the Lilly Family School of Philanthropy at Indiana University-Purdue. Even with the economic uncertainty associated with the novel coronavirus (COVID-19), many corporations will be…