Young Nonprofit Employees Love Work, Disappointed with Pay
According to a new survey by The Chronicle of Philanthropy, 80 percent of the newest nonprofit employees want to continue working despite smaller pay and growing student loan debt. The survey of 900 employees with less than five years of experience found 40 percent dissatisfied with pay and 65 percent paying off student loans. Even so, many remain realistic and aware regarding their career choices. Ms. Wolf, who earns $32,000 a year, says she and her friends often ruefully remind each other, “You don’t go into nonprofits for the money.” They’re not alone: Thirty-six percent of the people in the survey said. Read More.
For Succession Planning, Insiders Generally Fair Better
When the time comes to choose a new executive for an organization, insiders have many advantages, the most important of which is their familiarity with the organization. As Academic Impressions reports, hiring an executive internally can save a year or more of productivity. Among the findings: In the corporate sector, 4 out of 5 new CEOs are hired from inside the organization, and in terms of their tenure, “inside” CEOs usually outlast outsider CEOs. What’s most interesting is why: “It takes a long time to really get to understand how a company works,” one of the consultants remarked. Lapovsky, who has written. Read More.
10 Challenges for College Presidents This Year
College presidents have the unique task of balancing interests of all groups present on a campus. Faculty, staff, students, alumni and investors all look to that person to provide guidance and make the final decision. The Washington Post recently asked L. Randolph Lowry, President of Lipscomb University in Nashville, to highlight the 10 challenges he anticipates facing in the 2011-2012 school year. 1. The “new normal” may be permanent. In a conversation with our state’s newly elected governor, Bill Haslam of Tennessee, together we concluded: “You and I may never serve through ‘good times.’” We cannot count on the economic factors that. Read More.
New Law Extends Tax Relief, Including Energy-Efficient Property Provisions
Key Provisions of the Tax Relief Act of 2010 Incentives for Individuals Federal Estate & Gift Taxes Incentives for Businesses On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, or H.R. 4853 (hereafter, “the Act”). The bipartisan legislation extends for two additional years many of the so-called “Bush-era tax cuts” originally enacted under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA). Key provisions of the new law extend the individual and capital gains/dividend tax cuts for all taxpayers through 2012, enact a payroll tax cut for 2011, provide a two-year AMT patch, establish a top estate. Read More.
IRS Scrutiny of Employment Tax Compliance Continues
The IRS continues to send audit letters to U.S. businesses and organizations as part of the Employment Tax National Research Project (NRP) . Just because your organization may not have received a letter yet doesn’t mean it won’t. Only 2,000 such letters have been sent to date, with 4,000 still to come over the next two years. As report over at the CFO Zone : The NRP is the first the IRS has undertaken in 25 years. During that time, the agency noted, business practices regarding employment taxes may have changed significantly, prompting the need for study. In particular, the IRS is looking for data that will allow. Read More.
New Small Business Jobs Act Offers Benefits to All Businesses
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 , or H.R. 5297 (hereafter, “the Act”). Though many of the Act’s provisions focus on small businesses , the new law also contains tax incentives that apply to all businesses as well as new retirement savings incentives for individuals . It is important to note that some of these provisions offer taxpayers a very small window of opportunity, requiring action before the end of the year to take advantage of the savings. INCENTIVES FOR ALL BUSINESSES The Act enhances and extends a number of tax incentives that were originally included in the Economic Stimulus Act of 2008 (“the 2008 Stimulus Act”) and the American Recovery and Reinvestment Act of 2009 (“the. Read More.