Resource Archives: Jennifer Becker Harris

Posted by: Jennifer Becker Harris · Jan 4, 2022

We hope this letter finds you healthy and safe during this unprecedented time. As your foundation continues to operate, consider how today’s financial actions can impact the foundation’s year-end financial strategies. Below are ideas for your consideration before the foundation’s year-end:

Required Distributions of Income

Private non-operating foundations must annually distribute 5% of the value of their average non-charitable use assets each year. Non-charitable use assets include all assets other than those used directly in carrying out the foundation’s exempt purpose. The foundation’s current year qualifying distributions are applied towards this 5% distributable amount, also referred to as the required minimum distribution or “RMD,” to determine whether the foundation will have any excess distributions carried forward to next year or whether the foundation will need to make it up by the end of the following tax year.

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Posted by: Jennifer Becker Harris · Sep 21, 2021

We hope this letter finds you healthy and safe during this unprecedented time. As your organization continues to operate, consider some of the regulatory changes affecting not-for-profit organizations.

Donor Acknowledgement Letters

Please remember to send a contemporaneous written donor acknowledgment letter to all donors who contributed to the organization during the tax year. The IRS has disallowed charitable contribution deductions when the donor does not have the contemporaneous donor acknowledgment letter required by IRC §170 or when the letter fails to include the required information, including the quid pro quo language.

Click here to read the full year-end planning letter.

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Posted by: Jennifer Becker Harris · Jun 5, 2020

10/7/2020: This letter has been updated since its original publishing date to address changes in legislation and other trends impacting private foundations.

We hope this letter finds you healthy and safe during this unprecedented time. As your foundation continues to operate, consider how today’s financial actions can impact the foundation’s year-end financial strategies. Below are ideas for your consideration before the foundation’s year-end:

Required Distributions of Income

Private non-operating foundations must annually distribute 5% of the value of their average non-charitable use assets each year. Non-charitable use assets include all assets other than those used directly in carrying out the foundation’s exempt purpose.

 » Read more

Posted by: Jennifer Becker Harris · Apr 15, 2015

In response to the 2004 Senate hearings regarding numerous not-for-profit scandals, the Panel on the Nonprofit Sector was convened to come up with principles of self-regulation for the industry. The result of the Panel’s work: 33 principles that act as best practices for board governance. This video is the 13th in a series that will include a summary of each principle and information on how to implement it.

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Posted by: Jennifer Becker Harris · Mar 12, 2015

In response to the 2004 Senate hearings regarding numerous not-for-profit scandals, the Panel on the Nonprofit Sector was convened to come up with principles of self-regulation for the industry. The result of the Panel’s work: 33 principles that act as best practices for board governance. This video is the 12th in a series that will include a summary of each principle and information on how to implement it.

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Posted by: Jennifer Becker Harris · Jul 25, 2014

In response to the 2004 Senate hearings regarding numerous not-for-profit scandals, the Panel on the Nonprofit Sector was convened to come up with principles of self-regulation for the industry. The result of the Panel’s work: 33 principles that act as best practices for board governance. This video is the 7th in a series that will include a summary of each principle and information on how to implement it.

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