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Record-Eagle/Tessa LightyJacob Burley hops on his bike to ride around the Norte Clubhouse in Traverse City on Friday. Local nonprofits are concerned a new tax law could affect charitable donations.
”+ ”+ ”; Local nonprofits are concerned a new tax law could affect charitable donations.
TRAVERSE CITY a Nonprofit organizations across the region are bracing for a drop in charitable donations as the Tax Cuts and Jobs Act, signed into law on Dec. 22, goes into effect for 2018.
The concern is that the new tax code will have a negative impact, said Joan Moore, executive director of the Leelanau Township Community Foundation.
“Hopefully, people will continue to support their favorite causes because it feels good and it’s the right thing to do, not because it’s going to give them a tax break,” Moore said.
The biggest difference is that an increase in the standard deduction has taken away the incentive to make charitable donations, said Scott Verhage, a Certified Public Accountant and tax manager of Kindlinger & Company.
The standard deduction for a single filer has been increased from $6,350 to $12,000, and for a married couple from $12,700 to $24,000. That will likely translate to fewer people itemizing their deductions, which is where those donations can decrease taxable income.
A taxpayer who does not itemize receives no such benefit from donations, Verhage said.
aNot a lot of people are going to be over that amount so thereas not the tax incentive to contribute to charity,a he said.
The majority of donations received by the Leelanau Foundation are for $100 or less, Moore said. It was founded in 2013 by husband and wife Ty and Johanna Schmidt.
Norte could be affected by the new laws as fewer people will likely itemize their deductions, said Ty Schmidt, executive director.
“I don’t know if that will affect us,” Schmidt said. Of that, $14.2 billion will be due to the larger standard deductions and $3 billion will be due to other changes in the law, the study said.
Becky Ewing, executive director of Rotary Charities, says that’s a “wow” number, especially when you consider that individual giving is about 80 percent of a nonprofit’s revenue stream.
Rotary Charities, which has operated on endowed assets from oil and gas revenues since the late 1970s, does not receive donations. all of which improve the quality of life.”
Another area that has changed for 2018 is in estate and gift taxes, where the threshold for having to pay the tax has risen from about $5.5 million to $11.2 million.
The estate tax, also known as the death tax, is based on the overall value of an estate after deductions are applied. In the past, when a person died and had an estate worth more than $5.5 million, anything over that mark would be taxed at a rate of 55 percent, so bequests were often made to charities.
aBecause the tax rate is so high it makes sense to give the money away rather than give it to the government,a Verhage said.
The concern is that people may opt to give the money to their heirs rather than to a charity.
Amy Beyer, director of the Conservation Resource Alliance, said estate bequests are more about trust and the long-term relationship a person has had with the organization and less about tax codes.
“The one thing that we always remember is that people are driven by passion to make gifts, especially those end-of-life gifts,” Beyer said. “To me you either love CRS or you don’t.”
The nonprofit works to enhance the beauty and habitat value of the region through sensible land stewardship.
“If we felt the impact (of tax law changes) it would be much more slowly and over time,” Beyer said.
Other changes Verhage said will not likely affect many local nonprofits are in the Unrelated Business Income Tax, which is levied on related business taxable income of most nonprofits.
The changes will only affect those organizations that run separate, unrelated businesses that are profitable, and do not include things such as a fundraiser golf outing, he said.
Fringe benefits offered by some companies, such as paying for on-site gym memberships or parking and commuting expenses for employees, may now be taxed.
Feature: Rainwater harvesting system transforms small Mexican community – Xinhua | English.news.cn Feature: Rainwater harvesting system transforms small Mexican community
For the past five years, the 55-year-old woman has taken advantage of a system created by a group of young entrepreneurs who were looking for a solution to the lack of drinking water in the small community of Quiltepec.
“This has been possible because of the help from Isla Urbana which has managed to change the lives of everyone who lives here,” Alvarez said as she showed off the rainwater harvesting system which was installed in the only room made of brick and concrete.
She added that Isla Urbana is projected to install 10,000 rainwater harvesting systems this year.
Before having the rainwater harvesting system, Alvarez recalled how each family had to go down the hill and carry water from distance houses, where the residents would only give them small amounts.
“It’s different now, we don’t need the water truck – maybe once a year – we have the rainwater harvesting system.
At the urging of Isla Urbana, Alvarez has a biodigestor where she mixes water with sheep manure to produce methane gas which she uses for cooking. The benefit was they not only constructed an economical one, but also an efficient system that treats waste water that can be used in times of drought for the bathroom, to clean the house and water her fruit trees.
To encourage the developers for developing apps on its platform the Tezos foundation has now announced a new grant-making process that will fund the projects of its community of developers, educational institutions and other members. Explaining its plans Tezos foundation said that it has identified 3 key areas that it wants to target initially for further development of Tezos network:
Research that can extend the Tezos protocol
Development of tools that can support Tezos
And resolutions to grow the Tezos community.
Institutions, researchers, developers and community members who want to develop projects that can help in any of these 3 key areas can apply for grants in August to get their projects funded by Tezos Foundation.
The beta version of Tezos mainnet went live just a few days back in the end of June. Technology and business were my core interests, so it wasn’t surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news here at Crypto-News.in.
ADVISORY WARNING: Crypto-News India provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects, and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect’s individual analysis and decision making. Past performance is no guarantee of future results and Crypto-News India specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds in any blockchain/cryptocurrency related ventures or in trading cryptocurrencies.
In fact, MLB executive vice president of gaming and new business ventures Kenny Gersh revealed that they already talked to Lucid Sight just around the time CryptoKitties came into existence.
Read the full report here.
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Total Market Cap: July 15
The volume of trade in the crypto market sat at $8.78 billion. The leading cryptocurrency’s trade volume trickled to $2.86 billion, while its market slid to $107.65 billion.
Ethereum Price Analysis: July 15
Ethereum’s price jumped 0.6% to trade at $436.95. IOTA, on the other hand, dethrones TRON at the 10th spot.
Bitcoin’s market price jumped 0.59% to $6,277.94, and its value in the market is $107.66 billion.Ethereum’s market price jumped 0.63% to $436.84, and its value in the market is $43 billion.XRP’s market price jumped 0.36% to $0.439356, and its value in the market is $17.25 billion.Bitcoin Cash’s market price jumped 1.35% to $704.44, and its value in the market is $12.14 billion.EOS’ market price jumped 0.51% to $6.97, and its value in the market is $6.25 billion.Litecoin’s market price jumped 0.71% to $77.17, and its value in the market is $4.43 billion.Stellar’s market price jumped 6.29% to $0.211062, and its value in the market is $3.96 billion.Cardano’s market price jumped 1.46% to $0.137380, and its value in the market is $3.56 billion.Tether’s market price fell 0.27% to $0.999927, and its value in the market is $2.71 billion.IOTA dethrones TRON at the 10th spot, with its market price jumping 1.26 % to $0.972788, and its value in the market is $2.7 billion.Market Update 5.09.18 Facebook Launching New Blockchain…
Social media giant, Facebook Inc., is launching its in-house blockchain research unit that will be headed by David Marcus.
Five RepublicansA make for a crowded race for the 79th District state House seatA held byA Kim LaSata who, in an unusual move, is not seeking re-election to the seat but instead is running for the state Senate.
The five Republican candidates for the House seat will square off in the August primary election, with the top vote-getter facing one of two Democratic candidates in November.
Republicans in the race are JoAnn DeMeulenaere, Bruce Gorenflo, Troy Rolling, Maria Moen and Pauline Wendzel. I want the voices of the 79th District to be heard in Lansing.a
She has a bacheloras degree in political science, is married with three teenage children, and is a member of the BridgmanA Board of Education, where she has served since 2009.A
aIn this capacity, I am a steward of an $11 million public school budget. During my service on the school board, the districtas fund balance has grown and our district is thriving.aA
SheA noted that she also has experience with negotiating contracts.
DeMeulenaere said her primary focus areas, if elected, will be education, public safety and health care.
aPublic safety is near and dear to me, with family members serving as police officers and firefighters,a she said. If elected I will work hard to bring more attention and resources to these issues.a
She said businesses and schools must collaborate to continue to grow career and technical education opportunities, including apprenticeships.A
aProviding all students with a solid education creates a more skilled work force for our state, which would decrease poverty levels and allow all Michiganders to thrive,a DeMeulenaere said. Joseph High School, Lake Michigan College and Western Michigan University. He and his wife, Christine, have three grown sons.
Gorenflo said he and many people in the district have shared the same concerns since 2010 a public education funding, economic prosperity, and the renewal of infrastructure, especially roads, water lines and bridges.A
aThese issues are joined by a new urgency to deal with public school safety and security issues, the need for automobile insurance reforms to rein in premiums (that are) among the highest in the nation, and the public health issue of opiate addiction that is not only a serious problem in the 79th District but throughout the nation,a he said. She has also served as an advisor for the Berrien Community Foundation TEAM (Teens Exhibiting Able Minds), on the Basic Need Committee for United Way and on the Lake Michigan Catholic Schools board.
She has a bachelor of arts degree in communications from Mundelien College, Chicago, and held several positions, including sales, human resources and training and development in her 13-year career with Nordstrom. The 79th district and our nation will improve when we return to the principles that allowed our citizens to flourish in the first place.a
Rolling, of Benton Harbor, is a graduate of Eau Claire High School and is a student at Liberty University. He and his wife have four children in Lakeshore Public Schools.A
Rolling has been involved with the Berrien County Republican Party since 2003,A has represented the GOP at the state levelA as a former vice chairman of the Michigan Republican Party and in 2008 was elected as an alternate delegate to the Republican National Convention. In 2010 he became a Fellow of the Michigan Political Leadership Program at Michigan State University and has had training in public policy and effective governing.
aIam qualified because Iave already worked on policy in Lansing and Washington, D.C., and Iam ready to go,a Rolling said.A
Rolling, along with Dr. The mission, Rolling said, is to bring conservative values into urban communities and encourage black conservatives to run for office.A
He formed the Political Company, founded in 2012, to manage and consult for campaigns.A In 2014, he launched a second business called Redtie Concierge, serving clients throughout West Michigan and Northern Indiana.A He served three years on the Benton Township Planning Commission and is a member of the Michiganas Great Southwest Strategic Leadership Council.A
Rolling is a member of the Blue Roof Church, describes himself as a apro-life, pro-2nd Amendment, conservative Republican,a and said he loves to fish, travel, and spend time with his family and friends.
aMy passion for many years is to see our kids in this state have a path to success as they leave high school. Iam running becauseA I believe we need to make sure our kids graduate from high school with the ability to go to work right away. 1A problem facing Michigan and the 79th District is poor roads and infrastructure.
aIn my first 100 days as a state representative, I will introduce a bill to start taking care of our roads in this state and help champion a coalition of representatives working (on)A this problem,a he said.
Wendzel, of Watervliet, said she prides herself on being part of a fourth-generation Bainbridge Township farming family. She is active in alumni groups at Watervliet High School and Michigan State University, where she earned a bachelor of arts degree in anthropology and food industry marketing.
She said she learned the value of hard work at a young age working on her familyas farm and counseling young children at Five Pines, a Christian camp. She has been a program director at the North Berrien Historical Museum, assistant deputy clerk for Bainbridge Township, and is the product brand development manager at Coloma Frozen Foods, promoting Michigan fruits, vegetables and agritourism throughout the nation.A
Wendzel was the 2007 Michigan Apple Queen, is an advocate for the Juvenile Diabetes Research Foundation, and was active in the Berrien County Youth Fair and 4-H. aAs a lifelong resident of our district, I know the people of our community, understand the issues important to us and share our Southwest Michigan values.
Wendzel said she is motivated to ensure the voices of Southwest Michigan are heard in Lansing. Our roads lay the groundwork for a vibrant economy, and delaying the work necessary to bring our infrastructure up to acceptable standards makes conditions worse and raises costs,a Wendzel said.
aAs your next state representative, I will work to find comprehensive solutions that will save taxpayers money and deliver the roads hard-working Michiganders deserve,a she said.
The OklahomanNewsOK: Oklahoma City News, Sports, Weather & Entertainment
The Department of Environmental Quality in partnership with Keep Oklahoma Beautiful will recognize the City of Midwest City as an Oklahoma Clean Community.
For more information and to submit a nomination, go to nextgenunder30.com.
Midwest City recognized as clean community
The Department of Environmental Quality in partnership with Keep Oklahoma Beautiful will recognize the City of Midwest City as an Oklahoma Clean Community during a special ceremony 7 p.m. July 26 at the Midwest City Council Chambers, 100 N Midwest Blvd.
The City of Midwest City will be recognized as a Level I, Scissor-tailed Flycatcher, Oklahoma Clean Community, the highest recognition a community can receive under the program.
Midwest City was recently recognized for their efforts by KOB and received the greater than 30,000 population Municipal Program Excellence award.
Rebuilding Together receives $15,000 grant
Rebuilding Together OKC received a $15,000 grant from the Oklahoma City Community Foundation and its Elderly iFund grant program to repair houses for elderly and disadvantaged homeowners in the Oklahoma City metro area.
Q: If I want to set up a college scholarship in my estate plan, whatas the best way to do it?
However, before you go through the expense of setting up a trust, consider some existing options.
Finally, another option, and the one I usually recommend, is using a community foundation.
The folks at the local community foundations have the experience and expertise to help guide you through the process of establishing a scholarship. sHTML += ”;
Elon Musk can use some focus.
Donations sought for 3rd annual program to prep refugee children for school in America – News – Rockford Register Star – Rockford, IL
ROCKFORD The organizers of a faith-based crash course on life in American schools for refugee children in the Rockford area are making a push for donations to the program this month.
In its third year, the Welcome Project is a weeklong program created by members of Temple Baptist Church, 3215 E. The program for refugee children is designed to provide basic knowledge about living and attending school in the United States and to teach conversational English, math and computer skills, along with other subjects, before children begin classes in the fall.
“We’re pushing to get as many people donating as possible,” said project director Todd Rhines, 21, of South Beloit.
The free program, set for July 23-27, is not referred to as “camp” because these children may have different perceptions of that word. You don’t understand what these kids have experienced.”
The refugees are legal immigrants to the United States.
Approximately 70 children have registered for the program, Rhines said. Last year, 74 children attended the weeklong program, which is designed for children entering the third through eighth grades. You’re not going to say ‘no’ because they’re cute and need help,” Rhines said.
The Chinese student union at Rockford University is donating backpacks for the children.
“We’re trying to get school supplies donated,” he said, including pens, pencils, folders and notebooks.
Food donations also are requested, such as muffins, pudding cups and fruit cups, Rhines said, because the children will receive two free meals daily during the program. However, since “a good number of (children) are returning (this year), some of them can act as interpreters themselves,” Rhines said.
Kristen Zambo: 815-987-1339; kzambo@rrstar.com; @KristenZambo
How to help
To make a donation, contact Temple Baptist Church at 815-399-2665 or Welcome Project director Todd Rhines at 608-481-0415 or rhinestodd@gmail.com.