New law may leave nonprofits feeling taxed

ASU Now | April 10, 2019

Changes to deductions from Tax Cuts and Jobs Act may lead to less charitable giving. With Tax Day right around the corner, many Americans are wondering how the changes brought about by the Tax Cuts and Jobs Act will affect their returns. Nonprofit organizations are paying particularly close attention, as economists have predicted that the legislation will result in a decrease in charitable giving. Arizona’s nonprofit sector comprises nearly 20,000 organizations, many of which deliver vital services to the community in fields such as health care, education and housing. Collectively employing 167,000 Arizonans, the nonprofit sector is the state’s fifth largest private employer. In 2014, Arizona’s nonprofits generated $2.1 billion in tax dollars for the state — or 9.5% of all state and local sales tax revenue.

Spotlight

The mission of The St. Louis World’s Fare Heritage Festival is to be a FREE annual festival that will bring together peoples of the region, showcasing the finest elements of dance, art, music, and food found in the St. Louis area while supporting local charitable organizations. This special event is also designed to help bridge St. Louis County with St. Louis City, uniting the region into one community. Forest Park will be the centerpiece of a three-day celebration featuring events and competitions that embrace the heritage of the 1904 St. Louis World’s Fair while highlighting the culture of St. Louis today.


Other News
PHILANTHROPY

Abby Axelrod-Wunderman CAP Joins Fiduciary Trust International as Philanthropic Director for Family Office Services, Foundations & Endowments

Fiduciary Trust International | June 20, 2022

Fiduciary Trust International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, announces that Abby Axelrod has joined the firm as philanthropic director for family office services, foundations, and endowments. In her new role, Ms. Axelrod will assist families and nonprofit organizations across the country with board governance and dynamics, next-generation education, grantmaking, strategic visioning, fundraising and revenue diversification, and high-impact investing. Abby’s experience working with nonprofits and high-net-worth families will help us continue to enhance our nationwide philanthropic strategy, planning, and administrative support offering. We remain committed to meeting the complex, evolving needs of our clients, and enabling them to maximize the community impact they can make using their wealth.” Paul Cummings, head of family office services, foundations, and endowments Prior to Fiduciary Trust International, Ms. Axelrod served as director of charitable giving at the Community Foundation for Palm Beach and Martin Counties. Earlier in her career, she launched a private family foundation for a top hedge fund manager. Ms. Axelrod has been a consultant to various nonprofit organizations in Florida, South Carolina, and Virginia, and continues to serve on the advisory board of Impact the Palm Beaches. She is also a member of the board of the Elite Foundation. “Fiduciary Trust International has an outstanding reputation in the nonprofit community as a trusted advisor to foundations and endowments,” said Ms. Axelrod. “I am proud to join this firm’s team of dedicated professionals as it continues to grow its philanthropic solutions.” Ms. Axelrod contributes content about philanthropy to The Daily Drip, a Florida-based media company. She earned a master’s degree from Winthrop University in South Carolina, and graduated summa cum laude with a bachelor of arts from the University of Kent in Canterbury, England. Ms. Axelrod holds the Chartered Advisor in Philanthropy (CAP) designation from the American College of Financial Services. About Fiduciary Trust International Fiduciary Trust International, a global wealth management firm headquartered in New York, NY, has served individuals, families, endowments and foundations since 1931. With over $98 billion in assets under management and administration as of March 31, 2022, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The New York-based firm and its subsidiaries maintain offices in Coral Gables, FL; Boca Raton, FL; St. Petersburg, FL; Radnor, PA; Lincoln, MA; Los Angeles, CA; San Mateo, CA; San Francisco, CA; Washington, DC; Wilmington, DE; Reston, VA; and Atlanta, GA. About Franklin Templeton Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.45 trillion in assets under management as of May 31, 2022.

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NONPROFIT MANAGEMENT

MB2 Dental Launches Charitable Organization

MB2 Dental | July 15, 2022

The dental partnership organization, MB2 Dental, has launched its own charitable Foundation – The MB2 Family Foundation, a 501(c)(3) non-profit with a mission to provide financial assistance to its 5,000 plus employees in the event they experience unforeseen, life-altering hardships such as natural disasters, extended illnesses, injuries, and more. Team members may nominate themselves or others for consideration for a monetary donation. The work of the Foundation will also include providing donations to local charities and organizations at the request of MB2 Dental's doctor partners and employees. The Foundation thrives through the generosity of its team members. Funding for the Foundation will come from MB2 Dental's doctor partners and team members through optional paycheck deductions and other fundraising events. "The number one priority of any family is to take care of each other; this is our dental family, With affiliated practices in over 35 states, supporting our doctor partners and their teams in any way possible is a top priority. The individuals who make up our MB2 family have always been ready to jump into action and help one another without hesitation. The Foundation allows us to streamline this." -Dr. Chris Steven Villanueva CEO and Founder, MB2 Dental. MB2 Dental's previous charitable initiatives include annual doctor-led mission trips and donating to local organizations such as the North Texas Food Bank, The Genesis Women's Shelter, and Salvation Army. MB2 Dental also annually conducts The Elves Initiative, a cause led by Dr. Villanueva encouraging MB2 Dental home office employees to nominate coworkers, family, friends, and neighbors for financial assistance around the holidays. The success and growth of the Elves Initiative served as inspiration for the MB2 Family Foundation. About MB2 Dental- Dallas, Texas-based MB2 Dental is a first-of-its-kind Dental Partnership Organization (DPO) founded and led by dentist and entrepreneur CEO Dr. Chris Steven Villanueva, with a mission to empower dentists to preserve their profession. Since its founding in 2007, MB2 has partnered with hundreds of dentists to help them stay in the driver's seat as they maximize their talents, connect as part of a community and build exceptional wealth. MB2 currently partners with dentists and specialists in more than 35 states.

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NONPROFIT TECHNOLOGY

Jelenew sponsors the amfAR Gala Cannes charity dinner of the American Foundation for AIDS Research to help global AIDS research

Jelenew | May 30, 2022

American cycling brand Jelenew has been committed to charity. During the 75th Cannes Film Festival, Jelenew becomes the signature sponsor of amfAR Gala Cannes for the first time. The charity dinner aims to raise funds for the American AIDS Foundation Research (amfAR, The Foundation for AIDS Research) for AIDS research and raise public awareness of AIDS treatment philanthropy. On the evening of May 26th local time in France, the cycling pants-dress newlook co-created by Jelenew and Stéphane Rolland for amfAR will be presented with Armani, Oscar de la Renta, Louis Vuitton, Chanel, Givenchy, Valentino, Giambattista Valli, Versace, Dior, Tom Ford, Balenciaga, Saint Laurent, Alaïa and many masterpieces from top brands appeared in the annual fashion show "Let's get married" hosted by Carine Roitfeld. These works will then be part of an auction led by legendary auctioneer Simon de Pury to raise money for amfAR and contribute to the global fight against AIDS. Di Liu, Jelenew's creative director, said that amfAR is a global leader in dedicating resources and research to effectively identify a cure for AIDS, which can help them fight AIDS. Jelenew is so proud of that. Jelenew and Stéphane Rolland specially crafted a cycling pants-dress newlook for amfAR for the charity auction, hoping to contribute to the charity cause against AIDS. This time, Jelenew and Stéphane Rolland cooperated with the theme of this amfAR Cannes Gala, "Let's get married," to create a cycling pants-dress newlook. Its inspiration comes from the 17th-century, the Spanish Golden Age. This is a "dark cycling bride" dress with feminine avant-garde. The paintings design the black dress of Stéphane Rolland by Goya and Velasquez, a sizeable black tunic with moiré stripes and sleeves are embroidered with Art Deco crystals. Jelenew is based on the first professional cycling pants with outer pads developed by Jelenew. It is inspired by the "Goddess of Victory" in the Louvre Museum and draws inspiration from the Spanish 17th-century noble knight pants to create a pair of cycling pants with feminine avant-garde. When sports technology meets the haute couture designer, we create an elegant, dignified yet independent, and confident "dark cycling bride." This ingenious cycling pants-dress newlook is sure to make an indelible impression on all those lucky enough to see it. As a professional cycling brand born for women, Jelenew has always regarded women's health and women's care as the brand's sense of social responsibility and mission. When tracing the evolutionary history of cycling pants, the Jelenew R&D team found that although there are significant structural differences and needs between men and women, in the past 100 years, male and female riders have worn cycling pants with built-in pads of the same structure. They know that cycling pants are the core elements that affect cycling comfort, sports performance, and health and hygiene index. Unscientific structure and design will obliterate women's health, comfort, and beauty. To allow female cyclists to enjoy healthy riding as well as male cyclists, former core member of Chanel Haute Couture Di Liu set up Jelenew's research and product development teams in Paris, France. According to the dismantling and differentiated needs of women's cycling force data, they introduced the moulage technique into the design of professional cycling pants. They led the development of the first professional cycling pants for women, namely Jelenew's 1+ 1 model of detachable outer padded cycling pants, including one pair of tight-fitting cycling leggings and one pair of detachable outer pad cycling shorts with built-in protection pad. The Jelenew x Stéphane Rolland cycling pants-dress newlook is based on the 1+1 model cycling pants. It is reported that the amfAR Cannes dinner includes cocktails, dinner, live performances by Christina Aguilera, Ricky Martin, and Charli XCX, an annual fashion show hosted by Carine Roitfeld and a live charity auction led by Simon de Pury. Hollywood icon Robert De Niro will be the guest of honor at the event. In addition, guests attending this dinner will also include a dream team, including Jelenew creative director Di Liu, Carine Roitfeld, Caroline Scheufele, Cynthia Erivo, Ever Gabo Anderson, Kate Hudson, LaKeith Stanfield, Laura Linney, Lauren Remington Platt, Michelle Williams, Milla Jovovich, Mohammed Al-Turki, Sam Bankman-Fried, Vanessa Hudgens, amfAR Board Co-Chairs T. Ryan Greenawalt and Kevin McClatchy, and celebrities such as amfAR director Vin Roberti. The amfAR charity dinner is one of the highest standard charity dinners. Every charity dinner attracts many celebrities, top stars, and supermodels everywhere. The gala has raised more than $245 million in cumulative funding for amfAR's critical AIDS research. Jelenew, who is keen on public welfare, is proud to participate in it and contribute to charity in the name of fashion. About Jelenew Jelenew is an American avant-garde cycling brand born for women. It creates the first cycling pants truly made for women in the world. It brings the groundbreaking combination of "Haute Couture and Sportswear" and carefully designs each product with "luxury moulage technique" to provide a more refined sports experience and promote a healthy lifestyle for cyclists to enjoy elegant and stylish suburban cycling. About amfAR and amfAR Gala amfAR, The Foundation for AIDS Research, is one of the world's leading nonprofit organizations dedicated to the support of AIDS research, HIV prevention, treatment education, and advocacy. Since 1985, amfAR has invested nearly $617 million in its programs and has awarded more than 3,500 grants to research teams worldwide. Celebrities frequently donate items to be auctioned off for the foundation. Past donors have included Uma Thurman, Karlie Kloss, and Milla Jovovich. The 25th annual gala embraced the #MeToo movement. 25 prominent women chaired it on stage and screen, namely: Alessandra Ambrosio, Poppy Delevigne, Linda Evangelista, Sylvia Fendi, Aileen Getty, Kate Hudson, Scarlett Johansson, Milla Jovovich, Heidi Klum, Daphna Krim (daughter of Mathilde Krim), Karolina Kurkova, Sienna Miller, Angela Missoni, Mary Parent, Katy Perry, Natasha Poly, Aishwarya Rai, Vanessa Redgrave, Joely Richardson, Carine Roitfeld, Caroline Scheufele, Irina Shayk, Lara Stone, Donatella Versace, and Michelle Yeoh. Past items auctioned have included numerous photographs by Andy Warhol, Annie Leibovitz portrait sessions, stays in fashion moguls and celebrity houses, and 53-karat diamond jewelry. Heidi Klum notably donated her Bentley S3 convertible to garner one of the highest bids at €200,000.

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NONPROFIT MANAGEMENT,NONPROFIT TECHNOLOGY

Nonprofit Funding Platform Heroe5 Launches The Good Society, Embracing Web3 Approach to the Sustainable Financial Benefit for Charities

The Good Society | August 10, 2022

Nonprofit funding platform Heroe5™ announced today the creation of The Good Society™ to address the growing need for sustainable funding platforms for charitable organizations. The Good Society becomes the first project focused on Web3 solutions to raise awareness and support global causes working to positively impact our communities. “The Good Society is a vital next step in the evolution of the fundraising industry: a Web3 platform to create art impact experiences, As the world moves to Web3, charities need more fundraising tools to stay ahead of the curve and embrace new ways to engage potential donors. The Good Society will provide those innovations, allowing them to raise critical funding and awareness for vital causes while feeding the public’s growing interest in digital collectables.” -Sebastien Heimann, founding member and CEO of Heroe5 and The Good Society. With each drop 1800 digital collectibles designed by acclaimed artists will be released each month supporting a broad range of nonprofits working to improve the environment, wildlife, human rights, and our collective health and wellbeing. A percentage of these art impact experiences will grant token carriers access to unique events in perpetuity. Artist Nate Mohler created Out of Sight | Out of Mind” for The Good Society’s first program, which benefits Lonely Whale, No More Plastic, and Oceanic Global. The digital collectables, scaled to 3840 x 3840 pixels, 26 seconds in length and layered with white sound, emphasize the risk to fragile ocean ecosystems from the human-caused plastic pollution in urban environments and highlight how much there is left to learn. Three of the many cities featured in Out of Sight | Out of Mind include London, Los Angeles, and Paris. No matter where you live, the oceans provide the oxygen you breathe, nurture the food you eat, and regulate the temperature of the air. Without a healthy ocean we’d have a very different experience on land, said Mohler. This series is not of the oceans but of major cities, which emit 60% of all carbon emissions and make up less than 1% of the Earth’s surface. Similar to my ongoing series ‘Painted Cities’ there are three unique styles intended to bring a more ephemeral and dreamlike memory of the city. One of every 15 of the digital collectibles will also provide owners access to experiences that are provided by the benefiting organizations and artists for each drop. Some of the experiences tied to this premier release include: Two front row seats at Paris Fashion Week Two passes to Oceanic Global’s annual gathering for ocean conservation An annual artist critique call with Nate Mohler Invitations to Lonely Whale's annual leadership virtual town hall which discuss its programs and preview its impact report Digital collectors will easily be able to purchase the artwork with a credit card or Tez, cryptocurrency of the Tezos blockchain, when they are minted on August 12 at 2pm ET. Once sold out, more than $1M (US) in new funding will be available to the benefiting organizations and, as the digital collectables are resold, the organizations will receive residual payments from each transaction. “Lonely Whale’s goal is simple - to keep plastic out of the ocean. We want to thank each person who buys one of Nate Mohler’s striking NFTs through The Good Society, which will support the creative development and market adoption of alternatives to thin-film plastic and directly address the nearly 180 billion polybags used every year by the fashion industry.” - Harry Bernstein, Chief Creative Officer, Lonely Whale. Plastic pollution has become one of the biggest environmental scourges of our time. Microplastics are everywhere: in the deep ocean, in Antarctic ice, even falling rain over mountains and cities. Plastic pollution not only pollutes our planet; it pollutes our blood. We must act and the time is now. We are grateful to The Good Society for entrusting No More Plastic Foundation with this generous funding. With it, we will continue our work to end the cycle of plastics and microplastics flowing into our ocean.Rosalie Mann, Founder & President, No More Plastic. We live on a blue planet. The ocean covers 70% of the surface of the earth and produces every other breath we take. Our well-being is intrinsically tied to the ocean. Thanks to The Good Society and their innovative fundraising platform and model – and to artiste extraordinaire Nate Mohler – Oceanic Global will be able to keep empowering individuals, communities, and industries to create positive change for a thriving ocean, Lea d'Auriol, Founder & Executive Director, Oceanic Global About The Good Society: The Good Society harnesses the power of non fungible tokens to fund global initiatives. Designed by acclaimed digital artists, every month a new NFT will drop that raises awareness and secures funding for nonprofits working to improve the environment, human rights, and our collective health and wellbeing. Led by Sebastien Heimann, the Co-founder & CEO of fundraising platform Heroe5, The Good Society leverages the uniqueness of Web3 to deliver a powerful and recurring source of funding.

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Spotlight

The mission of The St. Louis World’s Fare Heritage Festival is to be a FREE annual festival that will bring together peoples of the region, showcasing the finest elements of dance, art, music, and food found in the St. Louis area while supporting local charitable organizations. This special event is also designed to help bridge St. Louis County with St. Louis City, uniting the region into one community. Forest Park will be the centerpiece of a three-day celebration featuring events and competitions that embrace the heritage of the 1904 St. Louis World’s Fair while highlighting the culture of St. Louis today.

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