When the Internal Revenue Service speaks, it's a good idea to listen carefully. This is particularly true if you are a board member, official or employee of a nonprofit organization that has been granted tax-exempt status by Uncle Sam. According to legal and academic experts, with an estimated 1.9 million nonprofit organizations in the United States and charitable giving topping $260 billion in 2005, increased scrutiny and revisions in the IRS' reporting requirements are top of mind for officials at foundations, universities and other nonprofit groups.
Michigan State University (MSU) can boast of a plethora of awards and achievements as one of the country's first state land-grant universities-from cutting-edge research in medicine, engineering, and forensic science, to its scenic campus in East Lansing that's home to more than 45,000 undergraduate and graduate students pursuing some 200 areas of study.
And then there's Michigan State's memorable drives to win the 1979 and 2000 NCAA basketball championships.
In 2007, Marts & Lundy created a new position, Of Counsel, to augment its roster of nationally known experts in the field of philanthropy. With six high-profile players on the Of Counsel team, Don Fellows, president and chief executive officer of Marts & Lundy, recently discussed the intent of the position, what it brings to the firm, and what it means for Marts & Lundy's clients.
We are pleased to unveil a new feature, M&L Minute Survey, designed to offer our clients timely and usable articles and data on a wide variety of topics. Minute #1 explores the relationships between prospect-to-donor conversion rates and campaign goals, stages of campaigns, and philanthropic segments. More than 300 institutions and organizations from across the philanthropic spectrum were invited to participate in our 2007 survey.