In This Issue
Idaho Charitable Assets Protection Plan (ICAPA)
The Idaho Charitable Assets Protection Plan, House Bill 431, introduces new oversight by Idaho’s Attorney General over Idaho nonprofits. The bill’s amendment allows Idaho’s Attorney General to review the dissolution, conversion of a nonprofit to for-profit organization, termination, and disposal of all charitable assets.
According to the bill, “any nonprofit organization that holds or within the preceding 12 months, received or at anytime held charitable assets with fair market value in aggregate exceeding $10,000 must provide a written letter to Idaho’s Attorney General notifying them of their intent to dissolve, convert, terminate, or dispose of charitable assets.”
For any nonprofits who may be planning to dissolve, terminate, convert, or dissolve charitable assets these are what you should be aware of:
After completing the plan for dissolvement, dissolution, or termination board members have 90 days to deliver a list of recipients who will be receiving the charitable assets including the recipients address and who received what in assets.
Raffle Clarifications in Idaho
Recently, the Bingo Raffle Advisory Board under the Idaho’s Lottery Commission has introduced a bill (S1254) to the State Affairs Committee proposing several revisions in the Bingo and Raffles Act, primarily for clarifications purposes. The revisions are designed to help clarify the laws and make the Bingo and Raffle Act easier to understand for nonprofit and charitable organizations.
Among the amended portions, it was proposed by the Bingo Raffle Advisory Board that it will be required that nonprofit organizations to have been in existence for one full year as bono fide charitable organizations. Additionally, organizations must provide a time period which raffles will begin and end and declare the winners of the raffle by the declared end date.
Proposed Federal Budget Impacts on Nonprofit Sector
On February 5, President Donald Trump issued the new federal budget proposal for the fiscal year of 2021. In an effort to keep you up to date on how this new budget can affect you and your nonprofit, we’ve reviewed the President’s proposal to compile the most pertinent information. If you want to review the proposal in its entirety, click here.
President Donald Trump’s federal budget proposes to cut roughly $4.820 trillion dollars, which would eclipse all previous proposals. The budget expenditures would cover three primary categories:
Mandatory spending is estimated at $2.966 trillion for the fiscal year of 2021, with the highest cost being Social Security benefits, followed by Medicare, unemployment compensation, and several other welfare programs. According to author Nicole Ogrysko of the Federal New Network, “like previous years, President Donald Trump’s most recent budget request includes many familiar cuts, eliminations, and proposals for civilian agencies in 2021.”
The president’s proposal cuts $54 billion from “nondefense” programs, many of which provide job training, housing, health care, and educational programs for millions of Americans. The proposed cuts would be used to bolster border security and military related programs.
President Donald Trump’s budget proposes numerous funding cuts across dozens of agencies which include National Institutes of Health and National Science Foundation, Medicaid/Medicare, and several other programs offering safety net programs for different sectors of the population.
It is not clear yet just how significantly President Donald Trump’s budget cuts will affect the nonprofit sector, but should the proposal be implemented many nonprofits can expect to experience some financial changes to take place particularly in human service agencies.
Every year when the President presents his budget there are always proposed cuts that do not come to fruition. We will continue to monitor the budget and share any impacts with you when the budget is finalized, and issue a call to action should we need to contact our congressional delegation as it is being discussed.
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