Spring 2013 issue of Horizons

Current Trends in Nonprofit Governance Current “hot” topics such as board oversight, conflicts of interest, key employee compensation, and employee expense reimbursements, as well as governance practices and enhanced board participation in an organization’s internal control structure, were discussed. For organizations served by RubinBrown, compliance with these best practices can be evaluated using our new corporate governance checklist which will be included in this year’s Viewpoints report that accompanies your audit. Implications of New Tax Legislation For information about how the new tax laws will affect your organization, please refer to our detailed e-focus newsletter located at http://tinyurl.com/NFP-Tax-Law. These are just some of the topics that were covered at the seminar. For a complete set of the seminar materials, please contact Judy Murphy at 314.290.3496 or by email at judy.murphy@rubinbrown.com.

Proposed Changes To Charitable Deductions RubinBrown typically refrains from writing about proposed legislation as there is so much uncertainty as to the outcome. However, it is noteworthy that the topics of “tax reform” and changes in the charitable contribution deduction for individuals are continuing topics of conversation in Washington D.C. The House Ways and Means Committee and the Senate Finance Committee are studying various facets of the tax code, one of which is charitable/exempt organizations. Meanwhile, according to the Joint Committee on Taxation, the charitable contribution deduction is not only one of the largest income tax benefits, but the benefits tend to accrue to higher income taxpayers. This combination may make it an easier target than some other deductions. Not-for-profit organizations may want to consider contacting their representatives in Congress to support the current rules on contribution deductions.

They may also want to factor in possible tax law changes in their budgeting and strategic planning.

RubinBrown’s Not-For-Profit Services Group As a recognized leader in the not-for-profit sector, we have the resources essential to serve arts and cultural organizations, foundations, private schools, religious organizations, social service agencies and trade and membership associations.

Judy Murphy, CPA – Saint Louis Partner-In-Charge Not-For-Profit Services Group 314.290.3496 judy.murphy@rubinbrown.com

Evelyn Law, CPA – Denver Partner Not-For-Profit Services Group 303.952.1245 evelyn.law@rubinbrown.com

Sharon Latimer, CPA – Kansas City Partner Not-For-Profit Services Group 913.499.4407 sharon.latimer@rubinbrown.com

Amy Altholz, CPA – Saint Louis Manager Not-For-Profit Services Group 314.290.3369 amy.altholz@rubinbrown.com

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