On Giving Tuesday, Congressman Mark Walker (R-NC) re-introduced the Universal Charitable Giving Act. The Center issued the following statement of support for this bill.
We extend our heartfelt support to the communities impacted by Hurricane Helene in western North Carolina. We'll continue to share resources for nonprofits and how to help.
Charitable Giving
The Center recently visited Washington, DC to advocate with our members of Congress on nonprofit issues. These include:
1. Protecting nonprofit nonpartisanship.
2. UBIT
3. Universal charitable deduction.
4. 2020 U.S.Census
5. Public Service Loan Forgiveness Program
On March 4, the N.C. House of Representatives overwhelmingly approved an amendment to a bill (S.20) that would have protected the state tax treatment of charitable contributions that seniors make from their individual retirement accounts (IRAs). Thanks to Rep. Rick Catlin (R-New Hanover) for sponsoring the amendment, which passed by a 109-7 vote.
In 2011, the N.C. House of Representatives overwhelmingly passed H.B. 886, which would bring the North Carolina corporate tax deduction for charitable contributions into conformance with federal law. This would help more small businesses contribute to nonprofits. The N.C. Center for Nonprofits encourages the N.C. Senate to pass this bill during the 2012 short session.
- Why Is Nonprofit Tax Exemption Essential for North Carolina? 1. It protects taxpayers. Nonprofits provide essential services that government would have to provide otherwise. Tax exemption costs much less than the cost of government having to provide the services itself. Nonprofits provide public benefits in exchange for tax exemption. Organizations may choose not to locate in counties or states that do not grant tax exemption. This is a potential loss for the people and economy in those locations. 2.
- Senate Tax Proposal
The Senate tax plan, which was passed as part of the Senate's version of the state budget for FY2015-17, would have made three changes that would harm nonprofits:
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Read this article to learn exactly what "quid pro quo" donations are and how to correctly report them on your taxes.
© North Carolina Center for Nonprofit Organizations, Inc. From Common Ground, a publication of the North Carolina Center for Nonprofits, www.ncnonprofits.org.