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Nonprofit New York #WHY15 Statement on the Fiscal Year 2025 Adopted Budget

 

Nonprofit New York #WHY15 Statement in Response to Fiscal Year 2025 Adopted Budget

Nonprofit New York Members and Community,

On Friday, June 30, 2024, the New York City Council and Mayor Adams announced an agreement on a $112 billion budget for Fiscal Year 2025.  This final version of the budget includes the restoration of hundreds of millions of dollars in cuts that the Adams Administration previously presented as necessary to help address the city’s $7 billion deficit.

The E.A.R.N. Plan – Equitable Access to Retirement for Nonprofits

Equitable Access to Retirement for Nonprofits
Nonprofit New York is excited to announce the upcoming launch of the Equitable Access to Retirement for Nonprofits, or E.A.R.N plan, to provide our members with equitable access to a Multiple Employer Retirement Plan.

#WHY15 Budget Advocacy Opportunities

Dear Nonprofit New York Members and Community,

Thank you to our members who recently reached out to let us know the continued harm and extent of the City’s budget cuts to programming this fiscal year. While #WHY15 has had partial wins, the nonprofit sector is still very much hurting from cuts in November and January.

#WHY15 Campaign: Nonprofit New York and Councilmember Pen City Limits Op-Ed

Nonprofit New York and Councilmember Shekar Krishnan publish City Limits Op-Ed in City Limits

On March 21, 2024, City Limits published a joint op-ed penned by Nonprofit New York's VP of Policy, Chai Jindasurat-Yasui, and Councilmember Shekar Krishnan, titled Opinion: Mayor’s Budget Dance Leaves Nonprofits–and New Yorkers–in the Lurch.

Nonprofit New York Statement on April 5% Budget Cut Cancellation

February 22nd, 2024

Nonprofit New York Statement on April 5% Budget Cut Cancellation

Nonprofit New York Members and Community,

Yesterday, Mayor Adams announced the 5% planned budget cut set for April would be canceled due to an estimated budget surplus and increased tax revenue forecast.

Proposed DAF Regulations, Comment Submission

February 22nd, 2024

In connection with the proposed regulations regarding Taxes on Taxable Distributions from Donor Advised Funds (“DAFs”) under Section 4966 of the Internal Revenue Code (the “Code”), you have requested comment as to “whether other funds should be exempt from the definition of DAF using the authority under section 4966(d)(2)(C) [which includes funds that benefit a single identified charitable purpose] and what, if any, restrictions should apply to ensure that the intent of section 4966 is achieved.

Nonprofit New York Statement on the City’s November Plan Budget Cuts

January 24th, 2024

Nonprofit New York Members and Community,

Yesterday, Mayor Adams’s Administration released the November 2023 Financial Plan, which includes the first round of the 15% citywide budget reductions announced in September. The full budget documents can be found on the Office of Management and Budget website, and the 5% immediate budget reductions are included in the Program to Eliminate the Gap document.