By NEO Law Group
The joint Treasury and IRS 2021-2022 Initial Priority Guidance Plan was released on September 9, 2021. The Plan includes a work list of projects for the 12-month period ending June 30, 2022 but does not provide for any deadlines. The following are some of the key provisions for exempt...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “The United States is careening toward an urgent financial crisis starting in less than two weeks, as a political standoff on Capitol Hill threatens...
When a nonprofit organization receives funding, it’s important for it to know if it should classify those incoming funds as receipts from a contract, or receipts from a grant. How the funds are categorized can lead to very different outcomes for the nonprofit organization. For example, the characterization will...
The Accelerating Charitable Efforts Act (“ACE Act”) is creating quite a stir among nonprofits and leaders in or advising the sector. The TL;DR version of the controversy: the increase in the funds donated to the charitable nonprofit sector resulting from donor advised funds (DAFs) either offsets or fails to...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Twice in the final months of the Trump administration, the country’s top military officer was so fearful that the president’s actions might spark a...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “President Biden’s new coronavirus vaccine mandates will have sweeping ramifications for businesses, schools and the political discourse in the United States. But for many...
Indemnification in the context of nonprofit bylaws generally refers to how the nonprofit will protect its directors and other agents in the event they are sued for acting in their capacity as agents of the nonprofit. More specifically, indemnification is an assurance by the organization to make good an...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “The Supreme Court refused just before midnight on Wednesday to block a Texas law prohibiting most abortions, less than a day after it took...
The Internal Revenue Service (IRS) has a page for Applying for Tax Exempt Status that addresses and has links to applications for 501(c)(3), 501(c)(4), and other exempt organizations. Types of Application Forms Applicants for recognition of exemption under Section 501(c)(3) of the Internal Revenue Code (IRC) file either Form...
Stay informed of the week’s notable events and shared resources with this curated list of Nonprofit Tweets of the Week. Notable Events of the Week: “Two explosions killed dozens of people, including at least 13 U.S. troops, ripping through the crowds outside Afghanistan’s main airport on Thursday, just hours...