November 2015

Donor-Advised Funds Continue Rapid Growth

According to a study released in early November, “Gifts to charity from donor-advised funds grew 27 percent in 2014 to reach $12.5 billion, as assets in fund accounts reached an all-time high.” The study was conducted by the National Philanthropic Trust and mentions other key findings, like: The average size of each account grew from $260,626 in 2013 to $296,701 last year.
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One-third of Americans Lack Faith in How Charities Spend Money

According to a recent survey, an astonishing one-third of Americans lack confidence in the way charitable organizations spend money and four in ten believe nonprofit leaders are overpaid. This survey conducted in June concluded that half of the respondents said knowing that charities spend a low amount on salaries, administration, and fundraising is important as they make their decision to donate.  This article highlights other interesting findings.
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IRS’s Focus on Worker Classification

Recently, News Release FS-2015-21 was issued by the IRS to remind employers to correctly identify whether workers are employees or independent contractors. The PPC Nonprofit Update publication produced this article to discuss why worker classifications matter, IRS Methodology, Dual Classification, and Correcting Erroneous Classifications. 
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© 2015 Edelstein & Company LLP. All Rights Reserved.
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