June Nonprofit Spotlight: Breakthrough of Greater Philadelphia
Fleming Petenko Law | Nonprofit Blog
by Kayci
10M ago
June Nonprofit SpotlightBreakthrough of Greater Philadelphia Breakthrough of Greater Philadelphia has been selected for June’s Nonprofit Spotlight! Who They Are: Striving to reach educational equity and diversity—this is the mission at Breakthrough of Greater Philadelphia. They fulfill this mission in two ways. First, through academic and co-curricular enrichment, Breakthrough prepares students who have limited educational opportunities to attend and succeed at competitive, top choice high schools, and inspire a lifelong love of learning and openness to possibility. Second, Breakthrough develo ..read more
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May Nonprofit Spotlight: Black Girls Love Math
Fleming Petenko Law | Nonprofit Blog
by Kayci
10M ago
May Nonprofit SpotlightBlack Girls Love Math Black Girls Love Math has been selected for May’s Nonprofit Spotlight! Who They Are: Founded in 2020, Black Girls Love Math’s purpose is to elevate the role Black girls play in math careers. Supporting girls from Kindergarten to college, Black Girls Love Math (BGLM) addresses racial and gender inequity in math. Through culturally responsive teaching practices, they cultivate a positive math identity for their girls. BGLM uses a research-based approach to create a fun, encouraging, and culturally conscious space for Black girls to explore and discove ..read more
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Reminder to all Tax-Exempt Organizations
Fleming Petenko Law | Nonprofit Blog
by Kayci
1y ago
Below is a helpful reminder from the IRS regarding the upcoming 990 filing deadlines along with some useful information and tools. Please reach out to us at FPL with any questions! Reminder to tax-exempt organizations: 990s, other forms due on May 15; information and tools available to help. The Internal Revenue Service today reminded thousands of tax-exempt organizations of their May 15, 2023, filing deadline. The annual filing due date for certain returns filed by tax-exempt organizations is normally by the 15th day of the 5th month after the end of an organization’s accounting period. Thos ..read more
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April Nonprofit Spotlight: The Unscripted Project
Fleming Petenko Law | Nonprofit Blog
by Kayci
1y ago
April Nonprofit Spotlight The Unscripted Project The Unscripted Project has been selected for April’s Nonprofit Spotlight! Who They Are: The Unscripted Project is an award-winning, BIPOC-led 501(c)(3) nonprofit organization dedicated to equipping students with critical social-emotional and interpersonal skills through the transformative medium of improvisational theater. They do this primarily through their core program, a free 10-week series of in-school applied improv workshops in the public middle and high schools. Since their inception in 2020, Unscripted has worked with over 1,000 student ..read more
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April Nonprofit Spotlight: The Unscripted Project
Fleming Petenko Law | Nonprofit Blog
by Kayci
1y ago
April Nonprofit Spotlight The Unscripted Project The Unscripted Project has been selected for April’s Nonprofit Spotlight! Who They Are: The Unscripted Project is an award-winning, BIPOC-led 501(c)(3) nonprofit organization dedicated to equipping students with critical social-emotional and interpersonal skills through the transformative medium of improvisational theater. They do this primarily through their core program, a free 10-week series of in-school applied improv workshops in the public middle and high schools. Since their inception in 2020, Unscripted has worked with over 1,000 student ..read more
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Donor Denied Charitable Deduction for Gift to DAF
Fleming Petenko Law | Nonprofit Blog
by Kayci
1y ago
Introduction On March 15, 2023, the Tax Court decided an anticipatory assignment of income case and disallowed a charitable deduction for a gift of stock to a donor-advised fund.  Estate of Scott M. Hoensheid et al. v. Commissioner, TC Memo 2023-34.  Although it is not completely surprising that the Court found the contribution of stock to be an anticipatory assignment of income based on the facts of the case, the opinion is instructive in that it identifies the factors the Court will consider in determining whether an assignment of income transaction has occurred.  Note: The Do ..read more
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February Nonprofit Spotlight: Bread & Roses Community Fund
Fleming Petenko Law | Nonprofit Blog
by Kayci
2y ago
February Nonprofit SpotlightBread & Roses Community Fund Bread & Roses Community Fund has been selected for February’s Nonprofit Spotlight! Who They Are:Bread & Roses Community Fund is the Philadelphia region’s social justice fund and leading funder of grassroots organizing for racial, social, and economic justice. Their slogan is, “Change, not charity,” because their goal is radical transformation of society. Since 1977, Bread & Roses has been connecting donors and organizers to move money into grassroots organizing by communities of color and across the region. They also prov ..read more
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January Nonprofit Spotlight: Home of the Sparrow
Fleming Petenko Law | Nonprofit Blog
by Kayci
2y ago
January Nonprofit SpotlightHome of the Sparrow Home of the Sparrow has been selected for January’s Nonprofit Spotlight! Who They Are: Home of the Sparrow’s mission is to provide Hope, Opportunity and Support that empowers women and children as they journey from homelessness to self-sufficiency. Home of the Sparrow opened its doors as a registered 501(c)(3) nonprofit homeless shelter in 1987. Today, Home of the Sparrow not only provides Transitional Shelter, but also Affordable Housing and Rapid Re-Housing combined with Supportive Services that address the core issues of homelessness. Home of ..read more
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Fleming Petenko Founders Named to the Irish Legal 100
Fleming Petenko Law | Nonprofit Blog
by Kayci
2y ago
Founders Noel A. Fleming and Kayci D. Petenko were named to the Irish Legal 100, an annual compilation of distinguished U.S. legal professionals in the United States who share Irish ancestry. The annual list includes attorneys, legal scholars and members of the judiciary who have distinguished themselves in their fields of endeavor. Learn more and access the digital editions of the Irish Legal 100 here. The post Fleming Petenko Founders Named to the Irish Legal 100 appeared first on Fleming Petenko Law ..read more
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Year-End Planning – Expansion of Charitable Deductions for 2021
Fleming Petenko Law | Nonprofit Blog
by Kayci
2y ago
As the year comes to a close, it’s important to remember that the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) expanded the deductibility of charitable contributions to incentivize charitable giving. Many provisions of the CARES Act that were first enacted in 2020 were extended into 2021 under the Consolidated Appropriations Act (the “CAA”).  Above-the-Line Charitable Deductions – For Non-Itemizers Prior to the CARES Act, taxpayers who took the standard deduction could not deduct charitable contributions. However, for 2021, individual taxpayers may dedu ..read more
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