Our quarterly client newsletter heralds late-breaking, significant state and federal developments of interest to nonprofit organizations and their executives. A list of the articles from our most recent issue of The Nonprofit Watchman™ is provided below.

Winter 2007/2008

	Ranking Senate Finance Committee Member Makes Inquiries Of Six Media-Based Ministries
	Oral Roberts University Receives $70 Million Pledge Amid Controversy Surrounding Former President. Pat Robertson Expresses Interest In ORU
	Treasury Issues New Final Regulations For 403(b) Plans
	IRS Exempt Organizations Commissioner Describes Troubling Trends In The Nonprofit Sector
	Standard Mileage Rates
	Inflation-Adjusted Amounts Updated For Token Premiums
	Now Is The Time To Set 2008 Housing Allowances For Ministers

Summer/Fall 2007

	New “Risk Assessment” Auditing Standards Apply To CPA Audits For 2007 Calendar Year. The Most Significant Change To Auditing Standards In Decades
	IRS Proposes Major Revisions To Form 990 For Nonprofit Organizations
	IRS Issues New Authoritative Guidance On Political Activity By Nonprofits
	Plan Now For Property Tax Exemption For Property Acquired In 2007
	Florida DOR Issues Ruling On Sales Tax In Church Thrift Shops. Ruling Also Offers Advice On Complications Stemming From Nonprofits’ Use Of Fictitious Names
	New Federal Filing Requirement For Small Nonprofits Begins In 2008

Special Bulletin May/June 2007

Florida Nonprofit Property Tax Exemption Reforms Proposed by BMWL Become Law

Spring 2007

	Selling Debt-Financed Property? Special Tax Rule Catches Some Organizations By Surprise
	IRS Issues Limited Guidance On Charitable IRA Distribution Law
	Private Foundations Get IRS Guidance For Grants To Supporting Organizations
	Smithsonian Executive Resigns Amid Congressional Scrutiny
	New IRS Web Training Resources Help Nonprofits “Stay Exempt”
	IRS Reports On Nonprofit Executive Compensation Compliance Project
	More And More Sources Produce Principles And Best Practices Documents For Nonprofit Governance
	It’s School Registration Time And Time For Private Schools To Publish Racial Nondiscrimination Notices
	Batts Elected ECFA Board Chairman

Winter 2006

	85% Of Catholic Dioceses Surveyed Experienced Embezzlement In Past Five Years According To Villanova University Study
	Central Florida Man Arrested In $1 Million Church Embezzlement Case
	New Charitable IRA Distribution Opportunity Meets With Confusion At Year-End
	Fourth Catholic Diocese Files For Bankruptcy Protection Due To Sex-Abuse Claims
	IRS Announces Simplified Process For Nonprofits To Claim Telephone Excise Tax Refunds
	American Express Offers Donors Simple Online Method Of Giving To U.S. Charities
	IRS Issues Guidelines For Documenting Charitable Contributions Made By Payroll Deduction
	Standard Mileage Rates
	Inflation-Adjusted Amounts Updated For Token Premiums

Fall 2006

	Charitable IRA Distributions Expected To Generate $1 Billion In Gifts By End Of 2007 – Special Considerations for This New Opportunity
	New Rules Limit Payments By Supporting Organizations To Donors And Their Relatives (Employment Relationships Affected – Loans to Insiders Also Prohibited)
	Private Foundations Must Now Consider Pension Protection Act When Making Grants (New Law Restricts Grants to Certain Supporting Organizations)
	Suspected Role Of Charities In Funding Terrorism Means Continued Scrutiny Of Foreign Activities
	Senator Mel Martinez Sponsors Bill That Would Provide Tax Credit For Private School Tuition
	Telephone Tax Refunds Available To Nonprofits
	Charitable Contributions Disallowed In Series Of Tax Cases (All Due To Inadequate Substantiation)
	Grassley Considering Legislation For Nonprofit Hospitals
	New Auditing Standard Changes Rules For Internal Control Reporting By Auditors

Summer 2006 Edition

	Congress Passes Charitable IRA Rollover Benefit And Limited Reform Provisions For Nonprofit Organizations
	New Form 1098-C For Vehicle Contributions Available (Contains New Required Language)
	Church Liable For Penalties In "Disguised Tuition Payment Program"
	IRS Sweeps Credit Counseling Agencies - 100% Of Organizations Audited Had Exempt Status Terminated, Revoked Or Proposed For Revocation
	Plan Now For Property Tax Exemption For Property Acquired In 2006
	New Penalties Apply To Nonprofits That Engage In Prohibited Tax Shelter Transactions

Spring 2006 Edition

	IRS Finds Political Campaign Activity By Nonprofits In Enforcement Initiative - Almost 75% Of 501(c)(3) Organizations Examined Had Prohibited Political Activity
	The Truth About Sarbanes-Oxley And Nonprofits - Except For Minor Provisions, It Does Not Apply
	Signers On Foreign Bank Accounts Must File Form With IRS – Even If Account Is Owned By Nonprofit
	IRS Processing Fees Increased
	It’s School Registration Time And Time For Private Schools To Publish Racial Nondiscrimination Notices