Given the range of funding alternatives and strategies, it’s important for those who are philanthropically minded to understand their options. A well-crafted approach can help optimize benefits for the nonprofit organization that is receiving the gift, while providing valuable tax benefits to the donor.
The passing of the Social Security Fairness Act repealed two longtime provisions — the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions reduced or eliminated Social Security benefits for certain workers who were also receiving a pension from earnings not covered by Social Security.
