Late last month, the Urban Institute, a nonpartisan economic and social policy research organization, released a study conducted by Francie Ostrower – "Nonprofit Governance in the United States: Findings on Performance and Accountability from the First National Representative Study." The study, based on a survey of over 5,100 public...
Craigslist Foundation Nonprofit Boot Camp – August 18
Best bang for your buck: the Craigslist Foundation Nonprofit Boot Camp. Recommended especially for those new to the sector. But even if you’re a nonprofit veteran, you’ll find quality speakers covering essential topics. The following is the promo piece for the San Francisco Bay Area: Join 2,100 emerging and...
Nonprofit Governance Program
On July 26, 2007, Cherie Evans, of Evans & Rosen, and I presented a program on nonprofit corporate governance sponsored by the Taxation Section and the Pro Bono Issues Committee of the Barristers Club of the Bar Association of San Francisco. Cherie led off with a very informative overview of a...
IRS Commissioner’s Letter to Sen. Grassley
IRS Acting Commissioner Kevin M. Brown’s letter to Sen. Charles E. Grassley dated June 28, 2007 responds to the Senator’s request for information about compliance issues within the responsibility of the Tax Exempt and Government Entities Division of the IRS. While the letter concentrates on compliance issues, Brown emphasizes...
IRS Exemption Application Procedures Updated
Earlier this month, the IRS issued Rev. Proc. 2007-52 setting forth procedures for issuing determination letters and rulings on the exempt status of organizations under Sections 501 and 521 of the Internal Revenue Code (IRC), with certain exceptions. These procedures also apply to revocation or modification of determination letters...
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...
New York Times on the “Fourth Sector”
In the May 6, 2007 edition of the New York Times: "Businesses Try to Make Money and Save the World." Here are some interesting points made in the article: Bay Area attorney R. Todd Johnson is working on creating an online wiki focused on "for-benefit corporations" Goldman Sachs has...
IRS: Draft of Good Governance Practices
Earlier this year, the IRS released a Good Governance Practices Discussion Draft for charitable organizations. Included in the draft are nine recommendations to help ensure that directors understand their roles and responsibilities and actively promote good governance practices: Mission statement Code of ethics and whistleblower policies Due diligence (consistent...
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...