Whether you are a lawyer (or not), if you are involved with international grantmaking, you have likely heard about the new guidance issued by the IRS with respect to foreign public charity equivalency determinations.
NGOsource is here to simplify US-based foundation and DAF international philanthropy and to keep the philanthropic sector informed of trends, changes, and developments in the field. In other words, we are here to read IRS rulings and related guidance and relay the information to you.
The good news is, I am just the messenger. Brighter minds deeply entrenched and fluent in US tax law have and are continuing to examine the ramifications of the September 14th IRS ruling (Revenue Procedure 2017-53). NGOsource will, as we have since our inception, keep you up-to-date and on top of these developments. You will hear more from us in the coming days and weeks, and we are always just a call away. For now, I am here to tell you that it’s good news.
The guidance provided by the IRS last week, much like the Treasury Regulations issued on September 25, 2015, again reinforces NGOsource’s approach and process. We are committed to providing an Equivalency Determination service that is efficient, cost effective and that is in compliance with IRS requirements as well as the needs of our members. NGOsource strives to stay compliant, and more notably set a high standard for our work.
More substantive content and guidance will come from our legal team in the coming days. I just wanted to express and confirm that what we have built continues to be IRS-compliant and aligned with regulatory standards. As always, we are here to help you do what you do best, change the world. If you have questions or concerns, please let us know. For our legal team’s initial comments to the IRS ruling of September 14th please click here.
As NGOsource’s Director of Operations, Kevin Ryan is responsible for all systems, processes and platforms related to NGOsource.