On September 26, 2007, Governor Schwarzenegger signed AB 897 introduced by Assembly Member Guy Houston (R-San Ramon). AB 897 eliminates the requirement of an organization that has received recognition of exempt status under Section 501(c)(3) of the Internal Revenue Code to file a separate application for state tax exemption...
CURRENT AFFAIRS & OPINION
Revised Form 990 – Comment on Wiki
The National Center for Charitable Statistics and Guidestar have created a wiki for those who would like to view or add comments with respect to the redesigned Form 990, which is currently in the discussion draft stage. This is a nice opportunity to give your input on the draft...
Congressional Hearing on Tax-Exempt Charitable Organizations – July 24
The House Ways and Means Subcommittee on Oversight held a hearing on Tax-Exempt Charitable Organizations on July 24, 2007. Among the witnesses testifying before the Subcommittee were Steven T. Miller, Commissioner, Tax Exempt and Government Entities Division (TE/GE), IRS; Gregory D. Kutz, Managing Director, Forensic Audits and Special Investigations,...
Form 990 – Discussion Draft
On June 14, 2007, the IRS released a discussion draft of a substantially redesigned Form 990, Return of Organizations Exempt from Income Tax. The redesign of the Form, the first since 1979, is based on three guiding principles: Enhancing transparency by providing the IRS and the organization’s stakeholders with...
The E-Postcard: A New Filing Requirement for Small Exempt Organizations
From the IRS website: Beginning in 2008, small tax-exempt organizations that previously were not required to file returns may be required to file an annual electronic notice, Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations not Required To File Form 990 or 990-EZ. This filing requirement applies to tax...
CoF Annual Conference – Legislative and Regulatory Update
The Council on Foundations Annual Conference included a session entitled The Latest from Washington: Legislative and Regulatory Update, featuring Steve Gunderson, President and CEO, Council on Foundations; and Diana Aviv, President and CEO, Independent Sector. Here are just a few of the illuminating observations made: Senator Max Baucus, Chairman...
San Francisco – New Sick Law Goes Into Effect
Effective as of February 5, 2007, all employers (including nonprofits) must provide paid sick leave for staff members working in San Francisco. Learn more about this groundbreaking, controversial law at the following sites: Fact Sheet – Paid Sick Leave Ordinance – SF Office of Labor Standards Enforcement FAQs –...
Advisory Committee Principles – Principles for Responsible Fundraising Practices
Here are the 7 draft principles falling within the category of "Principles for Responsible Fundraising Practices" developed by the Panel on the Nonprofit Sector’s Advisory Committee on Self-Regulation of the Charitable Sector: Solicitation materials and other communications with donors and the public must clearly identify the organization and be...
Advisory Committee Principles – Principles for Strong Financial Oversight
Here are the 5 draft principles falling within the category of "Principles for Strong Financial Oversight" developed by the Panel on the Nonprofit Sector’s Advisory Committee on Self-Regulation of the Charitable Sector (note that today is the last day for public comment): The board of a charitable organization must...
Advisory Committee Principles – Principles for Effective Governance
Here are the 11 draft principles falling within the category of "Principles for Effective Governance" developed by the Panel on the Nonprofit Sector’s Advisory Committee on Self-Regulation of the Charitable Sector: The board of a charitable organization must meet regularly enough to conduct its business and fulfill its duties....