BMI Federal Credit Union’s Post

I find it really interesting* that independent schools are suggesting the removal of DGR status from their building fund would "punish families". Just taking my old (private) high school as an example, a quick scan of their profile in the ACNC shows they have net assets of $177m. Name for me a government school that has anywhere near that in the bank. Not to mention the countless small charities and groups that are ineligible for DGR status, despite having a far clearer community benefit than an elite education business. Saying this change would punish families is also intentionally misleading - as the below article states: "The report did not, it should be pointed out, advocate removing all forms of tax deductibility for donations to schools – just those that skew towards the privileged." It's pretty simple I think. DGR status should not be manipulated for the increased benefit of businesses with large amounts of accumulated wealth that primarily serve rich people. *and what I mean by interesting is galling https://lnkd.in/gXb867n7

Yesterday the government announced that, as of 1 January 2025, all education services and vocational training supplied by private schools will be subject to VAT at the standard rate of 20%. Not only that, all pre-payments received on or after 29 July 2024 (relating to school terms after 1 January 2025) will be subject to VAT. Additionally, for private schools with charitable status in England, possible changes proposed with the removal of charitable business rates relief.

As someone who works in the D-III landscape one of the biggest issues regarding NIL and collectives at Universities is the concept of Donor Fatigue. Although this data is based on D-I universities, I still believe the concept holds: despite initial concerns, there's no negative impact on fundraising. Donors and alumni seem to be emphasizing the critical role of broader-interest contributions. According to Sportico's 🚀The median school's donations are up by 13% in the first major year of collectives nationally. 💸 The nationwide donation bump aligns with a 20% increase in total donations to FBS athletic departments. In this dynamic era, the synergy between traditional donations and collectives showcases the community's commitment to supporting college athletes and sustaining the growth of educational institutions. Knights Table Collective #CollegeAthletics #NILCollectives #FundraisingSuccess #sportsbiz #nil #sportsbiz #sportsnews #collectivesuccess #nilcollectives #sportsmarketing

What happens to nonprofit endowment dollars when a school closes? Generally, it should be transferred to another nonprofit with a similar mission. But what happens when they have debt that exceeds the proceeds from liquidation of real estate? What happens if students and alumni join a class action lawsuit? Will those assets go to interested parties? These will be decisions to be made by each state's attorney general office over the next 2 years as we see schools close in almost every state across the country. How you close and communicate the decision to close matters.

- Spelman College receives a historic $100 million donation, the largest ever to an HBCU. - Businesswoman and philanthropist Ronda Stryker, along with her husband William Johnston, made the generous donation. - Stryker, a Spelman College Trustee since 1997, has been dedicated to empowering women through higher education and supporting marginalized groups. - The $100 million gift coincides with Spelman College's 100th anniversary since its official naming in 1924. - $75 million will be allocated to endowed scholarships for future students, aiming to attract and support talented individuals while removing financial barriers. - The remaining $25 million will be used for developing an academic focus on public policy and democracy, improving student housing, and providing flexible funding for strategic needs. - Dr. Helene Gayle, president of Spelman College, expresses gratitude and praises the generosity of Ronda Stryker, emphasizing the positive impact on the school's mission to eliminate financial barriers. #Diligencify #WealthIntelligence #WealthInsights #HNWI #UHNWI #Diligence #DueDiligence #Wealth #Networth #fundraise #fundraising #university #casino #casinogaming #peopleintelligence #dossier #liquidity #interests #money #alumni #foundation #wealthinsight #EDD #diligence #donation #donorsearch #nonprofit #CDD #PEP #sanctions

Adams State University changes lives through access to high quality, affordable higher education. We are the state’s first HSI, and we are a majority minority institution. Furthermore, well over 50% of our students are first-gen. We serve the largest percentage of low-income students of any university in CO, and, according to the Chetty data, we do better than any other at moving those students up the income strata. For those who want to make a difference, donating is one way you can do just that: https://t.co/rlHlyu6Nw1

Breaking FAFSA News! Indiana is leading the nation in closing the FAFSA filing gap! Moving from 39th in 2023 to a top 10 state for FAFSA submissions and completions in 2024, Indiana has intentionally and strategically worked with education, philanthropic, non-profit, and business partners to provide FAFSA resources to Hoosiers. FAFSA is not just a form; it's a key to unlocking access to higher education and sustainable careers, inspiring hope for students across the state. Financial aid is still available to eligible students on a first-come-first-serve basis. If you have not filed yet, it is imperative to submit the FAFSA as soon as possible! #HOPEgrowsinIndiana

10/12 Why have independent schools been singled out? Universities are private charities providing education but no one is suggesting VAT on tuition, often paid by parents. And what about private tutors and private playgroups? It is easy to conclude that VAT on independent school fees is more based on pre-conceived notions of sector elitism, rather than a real understanding of the sector. 

10/12 Why have independent schools been singled out? Universities are private charities providing education but no one is suggesting VAT on tuition, often paid by parents. And what about private tutors and private playgroups? It is easy to conclude that VAT on independent school fees is more based on pre-conceived notions of sector elitism, rather than a real understanding of the sector. 

National Higher Education Day For Higher Education Day, here are 6 ways you can help fund your child's or grandchild's education: 📊 529 College Saving Plan 🏛️ Federal Aid (FAFSA) 💰 Grants & Scholarships 💼 Cash from Savings & Work 🏦 Private Loans 📄 Charitable Trusts #highereducationday #529s #camarillo