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Policy & Advocacy
VANNO works to keepyou informed and encourages you to take action on policy issues and legislation that may affect nonprofit organizations.
Virginia Nonprofit Policy Updates
National Nonprofit Policy Updates
Highlights
Final Regulations Issued Implementing College Loan Forgiveness Provisions for Nonprofit Employees
The department of Education has published final regulations for the College Cost Reduction and Access Act of 2007 (CCRAA). This Act provides for loan forgiveness for full time employees of "public service organizations," including 501(c)(3) organizations, and was supported by VANNO in partnership with the National Council of Nonprofits. Nonprofit full-time employees (at least 30 hours a week) making monthly college loan repayments can count each month of nonprofit empl0yment towards the 120 months of payments needed to quality for forgiveness of the remaining loan balance, beginning with payments after October 1, 2007. The effective date applies to payments, and thus existing nonprofit employees with outstanding student loan of more than ten years future duration can benefit from this provision.
The way it works: If you are a college graduate facing more than ten years of loan repayments, and if you work in “public service jobs,” - including working for a nonprofit - for ten years while making monthly payments on my loan, I can ask to have the balance of my loans forgiven. So basically, ten years of public service earns the dividend of canceling the rest of my college debt.
More specific information and questions from employees should be redirected to the Department of Education. The website, www.ibrinfo.org may also be helpful.
Free! New Online Mini-Courses on Redesigned Form 990
StayExempt.org, which provides online IRS educational resources for tax-exempt organization, now features five new mini-courses on the redesigned Form 990. These mini-courses provide information on preparing to file the new Form 990- as well as a walk-through of the entire form and frequently used schedules.
Update on the federal GIVE Act
Congress Fails to Correct Mistreatment of Volunteers: Senate Bill 3429, the Giving Incentives to Volunteers Everywhere Act
UPDATED Read more..
2009 Public Hearings on Virginia Budget
Concerned about what the Governor's Budget Amendments mean for your nonprofit? The Virginia House Appropriations and Senate Finance Committees have scheduled a series of public hearings in January around the state to address the amendments to the 2008-2010 state budget. Click here for more information and the location near you.
Department of Taxation reverses its ruling on taxing sale of food for nonprofits
As of October 1, the Virginia Department of Taxation reversed its earlier ruling that Virginia nonprofits were required to pay sales tax on food provided at ticketed items. Read more..
Virginia's Nonprofit Sector: An Economic Force
A Joint Report of the Johns Hopkins Center for Civil Society Studies, the Connect Network, and The Community Foundation Serving Richmond and Central Virginia