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Meet the New Global Tax Haven, the United States

NonProfit Quarterly

Typical uses, they note, are for parents to establish funds for their children to access after they become adults or for a caregiver to establish a fund to ensure care continues for a loved one after their death. But trusts can also be used to retain wealth for multiple generations. It is available to both state residents and non-residents.

Law 141
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Looking for Tax Money in All the Wrong Places: Structural Racism at the IRS

NonProfit Quarterly

The credit amount depends on the individual’s tax-filing status, the number of children that they support, and income. As with most injustices in our economic and political systems, regressive taxation has hit BIPOC and low-income Americans the hardest. For 2022, the credit ranged from $569 to $6,935.

Taxation 113
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Understanding Unrelated Business Income in Nonprofits

The Charity CFO

However, as detailed in Publication 598 of the Internal Revenue Service, income not directly related to their declared charitable purpose is subject to federal taxation. This is called the unrelated business income tax, or UBIT. So how do you know if your nonprofit organization has taxable unrelated business income?

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The Differences Between a 501(c)(3), 501(c)(4) and Other Tax Exemptions

NonProfit Hub

These include charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition and preventing cruelty to children or animals. While that’s quite the lengthy list, it’s not complete because the IRS breaks it down even more and defines what charitable means.

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4 forces primarily responsible for making people charitable

iMarketSmart

Skepticism about the government’s involvement in people’s economic lives – Brooks wrote that politicians and a significant number of people take credit for being charitable without spending their own money because they, instead, support policies of income distribution through taxation and this affects their private giving.

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Of Myths and Markets: Moving Beyond the Capitalist God That Failed Us

NonProfit Quarterly

Little Myths on the Prairie As Quart points out, the stories children read influence the values they enact as adults. Future neoliberal enthusiast Ronald Reagan honed his message in the 1950s as the host of General Electric Theater, one of those funded programs, nearly three decades before he would be elected president.

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“Educational Purposes”: Nonprofit Land as a Vital Site of Struggle

NonProfit Quarterly

4 Once on Prospect, I was awash in a sea of excitement and activity as over 150 residents, labor activists, students, and onlookers buzzed about, handing out food and water, playing with young children, stewarding informational tables, dancing to the music, and finishing a massive art project that immediately drew my attention.