Accounting Case Studies

Corporations may carry excess charitable contributions forward five years, but they may not carry them back. 
True

on January 15, Starkies-Davis donated $1 million, and voluntary elections from the firm’s 3,528 employee-partners and Board of Directors totaled another $1 million. All funds will all be wired directly today for immediate relief work. Contributions will be designated for relief efforts associated with the recent earthquake in Haiti.

“March of Dimes” charity was in news in November ’15, because of an alleged fraud committed by one of its employees named Ms. Karima Manji. Karima Manji has been working with MOD since 2005. She has been handling the portfolio of property manager and used to look after MOD’s non-profit residences. She is alleged to have used “various means” to siphon funds from the charity, including forging invoices and expense claims, and funnelling money into a false March of Dimes bank account. She has been charged with fraud over $5,000, theft over $5,000, possession of property obtained by a crime over $5,000 and presenting a forged document. She also served as the executive director of Kingsmere retirement living in Alliston and has been placed on administrative leave after being charged by Toronto police of allegedly defrauding MOD of $0.8 Mn. Officials at MOD has confirmed of ongoing investigation into the incident and those of Kingsmere retirement living have stated that “Manji’s employment is not linked to her involvement with MOD’s”.

-The government received a cash contribution from the buyer; the buyer donated money that was not returned.

Solomon knowingly received and spent the $17,000 “reimbursement” which came from Elmore’s estate funds as evidenced by the check memo which states“Elmore Desvigne Estate.” It is unclear why Solomon would front the money In April from his IOLTA, and then deposit the “reimbursement” into his business account.

With that money Lacey and Larkin have formed the Lacey and Larkin Frontera Fund. The fund works to give to non-profits that support the rights of Latinos and Hispanics who have experienced prejudice at the hands of law enforcement and other public

I observed the following information documented on checks #519 and #520: They both are dated 10/25/2015, made pay to the order of Lakeyah Anderson in the amount of $500.00, for Donation and signed Terrance Bowens. Check owner is Terrance J. Bowens Sr. The checking account number is 7041282794. The bank routing number is 256074974.

12. If Phil Makowitz owned 100% of another funeral home that was incorporated as SKT, what difference would that make is your analysis of SK 's ability to switch t the cash method of accounting?

It was not a lot of money, especially for a former leader of the free world, but from what I understand, he was grateful.

The next problem was with the YMCA, the people who were supposed to be helping them to get new things. The YMCA got a $19,000 grant

I just received a follow up regarding the K-9 Fund from Jennifer. She's indicated there is roughly $4,000 left in the funds I've donated. If I add another $2,000 in January, it will bring that total to $6,000.

The benefits of a charitable gift annuity. The donor will qualify for an income tax deduction. Note that deductions for gifts of long-term appreciated property are limited to 30 percent of their adjusted gross income. Gifts of cash, short-term appreciated property, ordinary income property, and non-appreciated property will be limited to 50 percent of their adjusted gross income. The donor may, if necessary, take unused deductions of either kind over the next five years, subject to the same 30 percent or 50 percent limitation. The annuitants the donor names will receive fixed annual payments for life backed by the general resources of the

On a more personal note, Candy received a check from Keller Williams of Medford for a donation to the VAO in honor of her mother, Marie. It was a touching contribution and honor of her legacy that they hand delivered to her office in Voorhees.

Dr. Judith Rodin, President of the Rockefeller Foundation, announced during the 25th World Food Prize Laureate Award Ceremony in 2011 that the Foundation would commit $1 million to endow this annual award in honor of Dr. Norman

In 2003, Wellesley accepted the provisions of Massachusetts General Law, Chapter 60 Section 3D which authorizes volunteer contributions by citizens to a Tax Relief Fund to help offset tax obligation for elderly or disabled individuals. Town’s Taxation Fund Committee establishes the rules and regulations and donations of any amount over $1.00 is accepted. The solicitation was virtually non-existent and the town has received zero donation from the community that it is considered a failed policy. On the contrary, Wellesley Educational Fund (WEF) continues to solicit donations from all residents including empty nesters. The fund collects a sizable combined donation every year. Their mission statement states the fund is used “to enhance, enrich and maintain educational excellence and foster innovation in the Wellesley Public Schools” (WEF.org., 2016). Wellesley public school teachers were among the highest paid in 2015 with an average salary of $90,041 (doe.mass.gov., 2016), and it is always good to remember where the source of money comes from. In addition, WEF awards grant to excellent teachers.