Monday, February 15, 2010

Welcome to My Blog

Monday, February 15, 2010
Hello to everyone out there in Cyberspace (is that still what it’s called?) and welcome to our BLOG!

My 4 year-old daughter wanted to know why I was writing to a BLOB. Sad to say, I have been accused of worse.

Anyway, what do you think of the name of our blog? NON-PROFIT AFTER HOURS. Yep, you guessed it, my idea! We have gotten positive feedback on the name, and just one or two negative comments. Some people need to lighten up!

This is what I am supposed to be doing, correct? Just saying what is on my mind.

I’m blogging…….I’m blogging…..I’m blogging……

How am I doing so far?

Our blog is to be centered around the non-profit world, and for me, the tax related aspects of non-profits. Now, synonymous with the term “non-profit” organization is “tax-exempt” organization. Well, as I have heard from more than one person, if the organization is tax-exempt, there can’t be many tax-related aspects, and if there are, they can’t be that complex.

Well, as for me and my 4 year-old daughter’s BLOB, we say think again!

I have dealt with non-profits throughout my 30 plus year career working in taxes. However, I have focused on or “specialized” in this niche area for the last 10 plus years. And I will tell you, that some of the issues that arise in the non-profit area can rival any that come up in the for-profit arena.

Sure, you for-profit guys and gals have your Section 382 loss limitation rules, special allocation and substantial economic effect rules for partnerships, transfer pricing studies, S-corporation shareholder basis and at-risk-rules, blah, blah, blah…. But how many of my for-profit brethren work with religious organizations? Yes, we answer to a higher authority. Oh, and don’t even get me started with the issues surrounding joint ventures with tax-exempt organizations and the crazy, excise tax laden, world of Private Foundations. Private inurement…snap…don’t even go there!

The numerous issues that are out there along with the heightened scrutiny that non-profits are under from Congress, the IRS and state authorities make the non-profit world both an interesting and challenging area to practice. I was told that there is an internal struggle within the government regarding the “monitoring” of tax-exempt organizations. One school of thought is to increase regulation and oversight while the other says to let the organizations go about their business with minimal governmental intervention. We will see as time goes on, how this will play out.

I mean no offense to anyone as my blog is meant for all to read and from time to time, enjoy. Over the next few weeks, months and hopefully years, we will be exploring, together, the “tax related aspects” of “tax-exempt” organizations.

Until next time…….beware the non-profit BLOB!


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