CLIENT SPOTLIGHT: Grillo's Pickles

If you haven't been to the Grillo's Pickles website, you should. There, you'll find the fantastic story of how this company began. We've copied part of it here to save you a click.

Grillo's Pickles began with a pickle cart, just a small wooden stand in downtown Boston, where Travis Grillo and his friends would sell two spears for one dollar. Travis would make the pickles by night using his family's 100-year old recipe - one he'd memorized from making pickles every summer as a kid. In the morning, Travis would bike to the Boston Common and set up the cart with his buddies. They'd hang out all day, urging people to try the simple Grillo family pickle. It was a small business but Travis worked hard for it. He made more pickles, biked more miles, and slept less hours than he ever had before.
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CLIENT SPOTLIGHT: Factory Five Racing

Factory Five Racing was founded in 1995. Over the years they have grown from a start-up business in a small garage to become the world's largest manufacturer of "build-it-yourself" component car kits. They employ a full-time crew of about 40 people, and are located in Wareham, Massachusetts (about an hour south of Boston). They make their products right here in the USA, in the heart of New England where American manufacturing was born.
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CLIENT SPOTLIGHT: Luca + Danni

Fred and Danny Magnanimi grew up watching their father create beautiful, handcrafted jewelry in the family's Cranston, RI jewelry manufacturing business. When the boys grew up, Fred moved to New York and began working on Wall Street as an investment banker, while younger brother Danny, still enamored by the family business, stayed home. Increased competition from overseas businesses created significant challenges for the business, but Danny was confident he could find a way for the family business to evolve and thrive. This was his mission, this was his passion.
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        Don't Worry: The IRS Isn't Asking Santa for your Donor's SSNs

        Recently, you may have received emails and alerts concerning proposed IRS regulations requiring charities to disclose donor Social Security Numbers ("SSN").  While donor privacy is a major concern, the proposed regulation should not be.

         


        The proposed rule does not require organizations to collect/report donor SSNs.   Reporting donor SSNs would be optional, and the decision of whether to do so would be left to each charitable organization.  

        What the proposed rule says is that, if the donor does not have a contemporary written acknowledgement of the donor's donation, and wants to use the organization’s 990 (or a new form that the IRS is considering creating) to prove that the donation was made, then that 990 (or other IRS form) must reflect both the donation and the donor’s SSN.   It apparently is the IRS’ response to a tactic being used by some tax attorneys/accountants on audit, in order to get around the charitable donation documentation rules.


        Most charitable organizations provide a contemporary written acknowledgement to donors, so this proposed rule should not be a major concern to them.  Of course, if the proposed rule is adopted, charities should consider putting a policy in place to deal with this issue, which addresses whether and in what circumstances to disclose donor SSNs to the IRS and how to protect donor SSNs that they retain for that purpose.