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Tax Law Changes Will Seriously Impact Nonprofits and the Rest of Us Last week I attended the annual board retreat of NYCON, the New York Council of Nonprofits. There was considerable discussion of the pending tax bill in Congress. According to New York State Comptroller DiNapoli, federal spending in New York during 2016 included $55…

Revisiting Related Party Transactions The New York Not-For-Profit Corporation Law was substantially amended in 2014. Among other things, those amendments introduced the concept of “related party transactions” in order to reduce the possibility of unlawful self-dealing by corporate insiders. A “related party” was defined as an officer, director or key employee of the nonprofit. A…

HOUSING IS INFRASTRUCTURE  Recently I attended two great events sponsored by two great organizations, each doing a remarkable job at making the Hudson Valley a better place to live.  First was an afternoon event sponsored by the Orange County Partnership discussing and providing an update on their efforts to attract new businesses and retain and…

The Creative Industries in Orange County As seen in the December 2016/January 2017 edition of Business Watch (The Orange County Chamber of Commerce Newsletter). When you mention the arts, people naturally think of paintings, galleries, concerts and theaters. Orange County has these, but there is more. Arts are part of what economists call the Creative Industries which…

  MY VIEW by John C. Cappello   “Whatsoever you have done unto the least of my sisters and brothers you have done it  onto me.”  In the Hudson Valley we are blessed to have a number of nonprofit organizations working to help feed, clothe, shelter and provide a hand up to our sisters, brothers…

Planning for Business Succession and Exit Congratulations on successfully building and growing your business. The odds were against you surviving more than 5 years[1], but you beat the odds. Have your thoughts now turned to retirement? Or cashing out? Planning for business succession and exit successfully will require as much planning as growing it. Business…

ARTFUL ZONING IN THE HUDSON VALLEY On September 8, 2016, I attended the Orange County Chamber of Commerce breakfast to hear a great presentation by my partner, Gary Schuster, and Adam Demchak from Polich/Tallix Foundry, discussing the economic and cultural benefits associated with the many creative arts associated businesses, entrepreneurs, artists and non-profits operating in…

Nonprofit Contributions:  Aiming at Dark Money, but Hitting Nonprofits Governor Cuomo has just signed into law a measure intended to shine light on so-called “dark money” contributions to political candidates by some nonprofit organizations. The law was immediately criticized by a wide array of nonprofit and other groups as both overbroad and inadequate. The law…

NEW Overtime Regulations:  Is Your Business Impacted by NEW Overtime Eligibility Regulations?  To ensure that the intended overtime protections of the Fair Labor Standards Act (FLSA) are fully implemented, the Department of Labor has updated its regulations. Employers have until December 1, 2016 to comply with a new federal overtime standard that will drastically increase…

New Family Paid Leave Law New York State has adopted a new Family Leave Law that is funded by payroll deduction from employees’ salaries and is mandatory regardless of the size of the employer.  One supporting rationale has been that the United States is the only industrialized country in the world without paid family leave….

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