Filing with the IRS Before Receiving Exemption

It typically takes a nonprofit organization a number of months after it forms to file with the IRS an application for recognition of tax exemption. Then comes the waiting process. It may take many months for the IRS to reply, hopefully with a favorable determination letter recognizing the organization as tax-exempt from the date of […]

2014 Form 990 Due Tomorrow!

if your nonprofit is on a calendar accounting year, TOMORROW (May 15th) is the deadline for filing its Form 990 with the IRS. Which forms do exempt organizations file? (IRS) 2010 Tax Year and later (Filed in 2011 and later) Form to File  Instructions   Gross receipts normally ≤ $50,000 Note: Organizations eligible to file the e-Postcard may choose to […]

BoardSource Leadership Forum 2010 – Part II: Top Ten Legal Risks for Nonprofit Boards

In the session “Top 10 in 2010: Legal Risks Facing Nonprofit Boards” at the BoardSource Leadership Forum 2010, Melanie Lockwood Herman, Nonprofit Management Risk Center, and Jeffrey S. Tenenbaum, Venable LLP, presented their list of the top ten legal risks facing nonprofit boards: Exposures from social media use, misuse, and naiveté Going rogue: the unhappy […]

One-Time Relief Program for Small Organizations that Failed to File Form 990 for Three Consecutive Years

From the IRS website (July 26, 2010): Tax-exempt organizations that fail to satisfy annual filing requirements for three consecutive years automatically lose their tax-exempt status. The IRS is providing one-time relief that will allow small exempt organizations to come back into compliance and retain their tax-exempt status even though they failed to file for three consecutive […]

Tweets of the Week – 4/2/10

Here are some of my favorite posts of the week: GTak: IRS Governance Check Sheet for Charities – and Instructions – GTak: New IRS Publication – Tax on Unrelated Business Income of Exempt Organizations (Mar 2010) joe_brown: The Fine Print: BGCA [Boys and Girls Club of America] Executive Pay Update L3C_RickZ: […]

Tweets of the Week – 2/12/10

Here are some of my favorite posts of the past week: GTak: If Your Organization Has Second Thoughts About Filing That Complicated Form 990 … – (Charity Governance Blog) GTak: For L3C companies, profit isn't the point (CNN Money) p2173: This is paper #3 in the MacArthur series on philanthropy strategies Changing the […]

2009 Form 990 Released

The IRS has released the 2009 Form 990 and its related changes for filing this year. Changes on the 2009 Form 990 include clarifications to already existing questions in nearly all sections, as well as the integration of  new questions in Part IV (‘Checklist of Required Schedules’) and Part XI (‘Financial Statements and Reporting’).  The […]

IRS Form 990 Filing Tips – Part One

The IRS recently released the first in a series of filing tips for tax-exempt organizations and tax practitioners as they prepare to file the redesigned 2008 Form 990. Preparation Checklist Determine whether you are eligible to file the Form 990-EZ for 2008 Review the redesigned 2008 Form 990 Review the instructions for the redesigned 2008 […]