The CFA Institute has released guidance on the management of the financial resources of philanthropic organizations. Specifically, the CFA Institute developed the Investment Management Code of Conduct for Endowments, Foundations, and Charitable Organizations to specifically address the management of what are typically longer-term or permanent financial assets of these organizations. Board members and officers should be aware of the principles articulated in the Code of Conduct to successfully manage the investment of these types of assets and to ultimately protect the organization’s investments.
On Friday, December 17, 2010, the President signed into law the unwieldy titled, “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010”. In order to help explain the provisions in the new law, the Joint Committee on Taxation issued a Technical Explanation. The Tax Relief Act has many provisions which affect charities, such as… Continue Reading
Last week, the IRS and Treasury Department released their annual Priority Guidance Plan for the 2010-2011 federal fiscal year. The 34-page plan is available here. The IRS exempt organizations web page identifies and lists eighteen items in the plan that affect exempt organizations. Of the eighteen items, eleven were also included in last year’s plan –… Continue Reading