Benefits of Tax-Exempt Status under IRC Section 501(c)(3) There are numerous benefits of having 501c3 tax-exempt status: Exemption from federal income tax; Tax-deductible ...
5 Items to Include in Donor Acknowledgment Letters – What to include for tax purposes?
What are donor acknowledgment letters? Donor acknowledgment letters are more than just a "thank you" letter. Most tax-exempt organizations have certain requirements to follow -- including providing ...
Nonprofit Q&A: What is Group Exemption?
What is Group Exemption? Group exemptions are a way that similar organizations can share the same tax-exempt status. These organizations are sometimes called "umbrella organizations" because the ...
Did your Nonprofit Change its Name or Address? Better Inform the State & IRS
State Updates - Corporate changes Nonprofit corporate changes occur on a state level. So, if the organization changes its name, address, or registered agent, or adopts amendments to its ...
Nonprofit Q&A: What Does It Mean for a Nonprofit to Lose Tax-Exempt Status?
Since 2011, more than 500,000 tax-exempt entities have lost their tax-exempt status automatically. This started in 2011 when the IRS announced that 275,000 nonprofit groups -- about 18% of the ...
What To Do When You Lose Tax-Exempt Status
If your nonprofit organization has lost its tax-exempt status from the IRS, what should you do now? If an organization fails to file Form 990 three years in a row, the IRS will automatically revoke ...
Nonprofit Q&A: What needs to be included in our Minutes? What are nonprofit minutes?
Does your nonprofit keep excellent board meeting minutes? What about membership meetings? Or meetings of committees? While nonprofits must balance multiple priorities, keeping accurate meeting minutes ...
Nonprofits and Political Campaign Activities – What Is Allowed?
Nonprofit organizations that have 501(c)(3) tax-exempt status should be aware of how their organization can participate in national, statewide, and local elections. These 501(c)(3) public charities ...
Rules of the Game: Professional Athlete’s Foundations
With high levels of scrutiny in top athlete's foundations, charities must be structured and managed correctly. I am a huge believer in giving back and helping out in the community and the world...I ...
Who’s in Charge Here? Role of the Board of Directors vs. Role of the Executive Director
The nonprofit board vs. executive director balance can sometimes become a tug of war! Running a successful nonprofit takes an active board of directors and a dedicated staff led by a capable ...