Month: December 2021

Charitable giving can make good financial sense for retirees, both wealthy ones and those of more modest means. As retirees think about their charitable-giving strategies for 2021 and beyond, here are some key considerations. For Smaller Givers: Take Advantage of the Deduction Available for Nonitemizers. for Midsize Givers: Use Qualified Charitable Distributions. For Larger Givers: Donate Highly Appreciated Assets From Taxable Accounts. Click below for the full article.

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Nearly a decade ago, the State of California, under then-Attorney General Kamala Harris, began requiring nonprofits incorporated and/or registered in the state to submit Schedule B of IRS Form 990 along with its other required annual filings.  Schedule B is a listing of donors giving more than $5,000 per year to a nonprofit.  Under federal law, Schedule B is not subject to public disclosure, but the State of California’s law made the information contained in it public anyway. In a 6-3 vote, the US Supreme Court handed California a loss in what is considered a landmark case of lasting reach. The majority found that California’s donor disclosure requirement was unconstitutional, and violated First Amendment guarantees of free speech and free association. States will no longer have the ability to go on fishing expeditions, casting a wide net over donor activity in search of a violation. It's a victory for individual liberty and donor privacy. Click below for the full article.

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