Wondering how recent government actions and regulations might affect your nonprofit? Check out our policy roundup: collection of nonprofit-relevant policy updates all summarized into one newsletter.
Sneak Peek Below!
Take Action: Nonprofit Coalition Letter to President Biden and Congress
Earlier this week the National Council of Nonprofits and coalition partners released a letter to President Biden and Congressional leaders. The letter describes the ongoing financial and workforce challenges nonprofits continue to face, and urges Congress and the President to provide sustained relief, address critical staffing shortages, and promote the return of volunteers. Read the letter and sign on in support.
Employee Retention Tax Credit Reinstatement Act Senate Bill
The Senate introduced a companion bill the the Employee Retention Tax Credit (ERTC) Reinstatement Act (H.R. 6161)on Thursday, February 10, 2022. The bill was introduced by Senators Hassan (D-NH), Tim Scott (R-SC), Warner (D-VA), Capito (RWV), and Cardin (D-MD). The ERTC Reinstatement Act would reinstate the Employee Retention Tax Credit (ERTC) through the end of 2021, as it was originally written but removed in the bipartisan infrastructure bill. Nonprofit New York has endorsed this legislation.
On Wednesday, February 3, 2022, Congressmembers Pingree (D-ME) and Reed (R-NY) introduced a companion bill (full text) to the Senate’s Accelerating Charitable Efforts Act. The Initiative to Accelerate Charitable Giving quickly issued a statement of support, and Philanthropy Roundtable issued a statement in opposition.
The Accelerating Charitable Efforts Act (ACE Act), introduced in June, 2021, would reform Donor Advised Funds (DAFs) and create new requirements and incentives for private foundations to increase their payout rates to nonprofits. ACE has garnered opposition and support from philanthropic and nonprofit sectors, and we want to talk about it. Nonprofit New York recently held a panel discussion with supportive and opposing perspectives. Check out the recording to learn more about the legislation.
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