November 26, 2012

New Mileage Rates

The Internal Revenue Service today issued the 2013 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2013, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
• 56.5 cents per mile for business miles driven
• 24 cents per mile driven for medical or moving purposes
• 14 cents per mile driven in service of charitable
The rate for business miles driven during 2013 increases 1 cent from the 2012 rate. The medical and moving rate is also up 1 cent per mile from the 2012 rate.

November 21, 2012

8 Nonprofit Tasks before Year's End

1. Make sure you've had your Annual Meeting.

2. File Annual Report with state if required.

3. Ensure you're on target to file federal Form 990 and any similar state filings.

4. Confirm that charitable solicitation registrations are up to date (if required).

5. Review grant agreements to ensure terms and restrictions are being honored.

6. Review insurance policies for adequate coverage and conformity to current operation.

7. Private Foundation must make grants to public charities sufficient to avoid excise tax penalties.

8. Thank Your Donors with Proper Gift Receipts.

From Daily Dose of Nonprofit Law

November 11, 2012

Pope issues norms on charitable agencies.

The Pope issued new norms giving the local bishop sweeping powers over charitable agencies operating in his diocese. It remains to be seen whether and how this will be implemented, given the widespread financial abuse and mismanagement in the Vatican and in various dioceses. The document may be found here.