January means a new year, a new president and new laws! The New 403(b) The new 403(b) changes went into effect on January 1st and they're affecting nonprofits nationwide. If you haven't checked out this resource yet, here's a comprehensive PDF from Mutual of America and an interactive tool from AIG. Additional information is available on the IRS website. Gambling For California nonprofits, one of the biggest changes comes to the rules for bingo. In January, the California Gambling Control Commission implemented SB 1369, co-sponsored by CAN, which made major changes in California law regarding charity bingo. Changes include the authorization of "remote caller bingo” and doubling the prize limit on traditional bingo from $250 to $500. For more information, click here. Alcohol Conventional wisdom holds that drinking alcohol is recession-proof, which may be good for nonprofits seeking to hold wine tours or alcohol tastings. Three laws went into effect on January 1st that directly affect nonprofits serving alcohol. Thanks to AB 1964 (Non-profit events and temporary permits), nonprofits can obtain up to three temporary off-sale licenses. Meanwhile, AB 2090 (Non-profit educational events: wine tours) creates permits for nonprofits in enology or viticulture and allows for wine tours and classes. Finally, SB 157 relaxes the rules on donations by importers. For more information on the new alcohol laws, click here.  Pensions Although it was officially signed by President Bush at the end of December, the Worker, Retiree, and Employer Recovery Act of 2008 provides partial relief to nonprofits and other sponsors of defined benefit plans. Temporary changes include a smoothing of asset values, transition relief, and a delay of benefit restrictions. Click here for full information and a link to the Independent Sector's Call for Action.

Resources for Tracking the State Budget As state government confronts its worst budget crisis ever, check out these resources to understand -- and change! -- what's going on:   California Budget Project (www.cbp.org) provides up-to-date analysis of issues affecting low- and middle-income Californians.   California Department of Finance (www.dof.ca.gov) prepares the state budget and reviews legislation in light of the governor's policy priorities.   California Forward (www.caforward.org) seeks reform based on best practices "from around the nation and on conversations with thousands of Californians."   California Legislative Portal (www.legislature.ca.gov) is a master list of links to state legislative information.   Legislative Analyst's Office (www.lao.ca.gov) evaluates state government "to ensure that the executive branch is implementing legislative policy in a cost-efficient and effective manner."   Rough and Tumble (www.rtumble.com) is a daily digest of California public policy and political news.   The California Channel (www.calchannel.com) broadcasts, webcasts, and archives state government hearings, news conferences, and related policy events.

News & Announcements 2009 Compensation & Benefits Survey Participate in the Center for Nonprofit Management's independent annual survey of Southern & Central California's nonprofits. Nonprofit salaries are broken down by budget size, county, field of service and more. All participants get a 60% discount. Download a free example & the questionnaire at http://www.cnmsocal.org/2009survey Participate by March 16 to receive a 60% discount!

Free Financial Consultation We recognize you may not be thinking of changing your current investment strategy. And that may well make sense. However, this is the time to re-evaluate your current investment strategy, your investment policy statement and get a personal, objective analysis of your unique financial situation. We’ll be happy to review your portfolio in complete confidence, answer any questions you may have about your holdings, and provide our perspective on how to survive these perilous market conditions. Key Investment Team is an independent Registered Investment Advisor. Since 1982, Robert Venezia CEO & Chief Investment Officer has been managing assets for individual and institutional investors. Schwab Institutional, a subsidiary of Charles Schwab Inc. provides custodian services. Email: discover@keyinvestmentteam.com “We are different; our client’s interests come first in everything we do.” 16830 Ventura Blvd., Suite 224, Encino, CA 91436  Tel. 800-774-1444