{"id":64404,"date":"2024-12-09T11:32:42","date_gmt":"2024-12-09T16:32:42","guid":{"rendered":"https:\/\/indianz.com\/News\/?p=64404"},"modified":"2025-10-07T09:34:27","modified_gmt":"2025-10-07T14:34:27","slug":"nafoa-5-things-you-need-to-know-this-week-173","status":"publish","type":"post","link":"https:\/\/indianz.com\/News\/2024\/12\/09\/nafoa-5-things-you-need-to-know-this-week-173\/","title":{"rendered":"NAFOA: 5 Things You Need to Know this Week (December 9, 2024)"},"content":{"rendered":"\"NAFOA\"<\/a>
Thank you, NAFOA community! \ud83c\udf89 With your support, we\u2019ve surpassed our $5,000 goal for the Leadership Summit. There\u2019s still time to donate<\/a> \u2014 every dollar makes a difference! Pictured here are Alumni Jaycee Salling and McKenna Green at the 2023 Fall Conference. Learn how your contributions support Native young leaders<\/a> like Jaycee. Photo courtesy NAFOA<\/a><\/figcaption>\r\n
5 Things You Need to Know this Week<\/div>\r\n
Reminder: Tribal Consultations Next Week!<\/a><\/div>\r\n
Monday, December 9, 2024<\/div>\r\n
Source: NAFOA<\/div>\r\n
nafoa.org<\/a><\/div>\r\n

<\/P>\r\nDon’t forget to register for the Department of the Treasury tribal consultations<\/a> for tribal entities.\r\n<\/strong>\r\n

<\/p>\r\n

1. ACTION NEEDED:<\/EM><\/div>\r\n
Template Support Letter Available for Tribal General Welfare Benefits<\/div>\r\nNAFOA has prepared a template support letter to assist tribes in submitting comments on the Dear Tribal Leader Letter issued by the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS).\r\n

<\/P>\r\nThese proposed regulations implement Section 139E of the Internal Revenue Code, which provides clarity on the tax treatment of tribal general welfare benefits. The rules are a critical step in recognizing and respecting Tribal sovereignty and deferring to tribes on determinations about their programs. Importantly, the proposed rules provide tribes the flexibility to allocate revenues, including gaming revenues, toward programs that serve their communities\u2019 needs.\r\n

<\/P>\r\nIt is critical that tribes submit comments to actively show their support for the proposed rules and ensure that tribal voices are a central part of this process. Treasury is accepting comments until December 17, 2024, at 11:59 p.m. Alaska Time. Comments can be submitted via email to tribal.consult@treasury.gov.\r\n

<\/P>\r\nDownload the Template Letter<\/a>\r\n

<\/P>\r\n

2. WEBINAR:<\/EM><\/div>\r\n
Webinar on Federal Tax Status of Tribally Chartered Corporations<\/div>\r\nOn Thursday, December 12th from 2:00-3:00 p.m. Eastern Standard Time, NAFOA will be hosting a webinar on the Notice of Proposed Rulemaking (NPRM) and consultation request regarding the tax status of Tribally chartered corporate entities that was issued in October by the Department of the Treasury (Treasury) and Internal Revenue Service (IRS).\r\n

<\/P>\r\nThe webinar will cover what questions and information Treasury and the IRS are requesting from Tribes, background on Tribally chartered corporate entities, why the changes in the NPRM matter, specifics on the impact of this proposed guidance, recommendations on what Tribes should consider when submitting comments, steps forward following implementation of the guidance, and some of the key challenges that will still be remaining.\r\n

<\/P>\r\nIf you are unable attend the live webinar, we encourage you to still register to receive the recording and presentation afterward. Webinar materials will typically be sent to registrants within 2-3 business days after the live session.\r\n

<\/P>\r\nRegister<\/a>\r\n

<\/P>\r\n

\n\t\t\t
\n\t\t\t\t\n\t\t\t\t\t\"Mashantucket\t\t\t\t<\/a>\n\t\t<\/div>\n\t\n\t
\n\t\t\n\t\t\tMashantucket Pequot Tribal Nation donates $100,000 to NAFOA\t\t<\/a>\n\t<\/div>\n\t
\n\t\t\n\t\t\t

The Mashantucket Pequot Tribal Nation has donated $150,000 to the oldest and largest finance organization in Indian Country.<\/p>\n\t\t<\/a>\n\t<\/div>\n\t

\n\t\t\"Indianz.Com\"\t\tIndianz.Com\t<\/div>\n<\/div>\r\n

<\/p>\r\n

3. NAFOA NEWS:<\/EM><\/div>\r\n
Mashantucket Pequot Tribal Nation Gifts Historic Donation to NAFOA, Supporting Tribal Economic Empowerment<\/div>\r\nThe Mashantucket Pequot Tribal Nation (MPTN) has contributed a historic donation to NAFOA, supporting its mission of fostering tribal economic growth and leadership development. As the first major donation by a NAFOA Member Tribe, the contribution will provide funding for the NAFOA Institute and general operations, enabling the organization to expand its programming and advocacy across Indian Country.\r\n

<\/P>\r\n\u201cWe are honored by the Mashantucket Pequot Tribal Nation’s generous donation,\u201d said Cory Blankenship (Eastern Band of Cherokee Indians), Executive Director of NAFOA. \u201cThis support from one of our Member Tribes speaks volumes about the importance of investing in our shared future, and we hope it inspires others to consider contributing to our collective goals.”\r\n

<\/P>\r\nThe Tribe’s significant contribution will strengthen NAFOA\u2019s initiatives and demonstrates the communal effort needed to address the diverse needs of tribal communities. NAFOA invites Member Tribes to consider joining MPTN in advancing efforts that promote economic opportunity, financial expertise, and professional development across Indian Country.\r\n

<\/P>\r\nContinue Reading<\/a>\r\n

<\/P>\r\n

4. ACCOUNTING: <\/EM><\/div>\r\n
GASB Statement No. 104, Disclosure Of Certain Capital Assets<\/div>\r\nThe Governmental Accounting Standards Board (GASB) has issued Statement No. 104, Disclosure of Certain Capital Assets. \r\n

<\/P>\r\nState and local governments are required to provide detailed information about capital assets in notes to financial statements. Statement No. 34, Basic Financial Statements\u2014and Management\u2019s Discussion and Analysis\u2014for State and Local Governments, requires certain information regarding capital assets to be presented by major class. The objective of this Statement is to provide users of government financial statements with essential information about certain types of capital assets.\r\n

<\/P>\r\nThe requirements of this Statement are effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter. Earlier application is encouraged.\r\n

<\/P>\r\nSource: Governmental Accounting Standards Board\r\nLearn More<\/a>\r\n

<\/P>\r\n

5. JOBS:<\/EM><\/div>\r\n
Housing Director, Picayune Rancheria of the Chukchansi Indians<\/div>\r\nThe employee occupying this position is responsible for planning and administering, directing, supervising, and coordinating all phases of the PRCI Housing Department operations, to included operations and maintenance, grant management, housing development, and all regulations related to the Housing Department, and the Indian Housing Block Grant Program (NAHASDA). Additionally, the Housing Director must assess housing needs, develop a strategy, and solidify plans to meet the identified housing needs of the Tribe. The position requires management of PRCI approved housing programs and budgets and\/or monitors the work of the qualified specialists.\r\n

<\/P>\r\nLearn More & Apply at nafoa.org\/jobs<\/a>","protected":false},"excerpt":{"rendered":"Don\u2019t forget to register for the Department of the Treasury tribal consultations.","protected":false},"author":1,"featured_media":64405,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_vp_format_video_url":"","_vp_image_focal_point":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,13,1],"tags":[38,4273,2963,157,121,660,3095,36,1258,499,5497,89],"class_list":["post-64404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-law","category-national","tag-california","tag-chukchansi","tag-connecticut","tag-consultation","tag-employment","tag-irs","tag-mashantucket","tag-nafoa","tag-nahasda","tag-taxation","tag-tgwe","tag-treasury","no-wpautop"],"jetpack_featured_media_url":"https:\/\/indianz.com\/News\/wp-content\/uploads\/2024\/12\/09\/nafoa.jpg","jetpack_shortlink":"https:\/\/wp.me\/pcoJ7g-gKM","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts\/64404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/comments?post=64404"}],"version-history":[{"count":8,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts\/64404\/revisions"}],"predecessor-version":[{"id":248498,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/posts\/64404\/revisions\/248498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/media\/64405"}],"wp:attachment":[{"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/media?parent=64404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/categories?post=64404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indianz.com\/News\/wp-json\/wp\/v2\/tags?post=64404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}