What are the Duties of Nonprofit Directors?
What do nonprofit directors do? What are their legal obligations and duties? When can directors be liable? What should directors keep in their files?
What is the difference between nonprofit and tax-exempt?
There is a big difference between “non profit” and “tax exempt.”
Nonprofit status refers to status under state law.
Tax-exempt status refers to federal income tax exemption under the Internal Revenue Code.
501(c)(7) Social Clubs: Tax-Exempt Country Clubs, Fraternities & Golf Clubs
What is a 501(c)(7) organization?
Not all tax-exempt organizations are private foundations or public charities. Under 501(c)(7), social clubs like fraternities or country clubs can be recognized as tax-exempt organizations.
Did your Nonprofit Change its Name or Address? Better Inform the State & IRS
Did Your Nonprofit Change Its Name or Address? Here’s What You Must Do (And How We Can Help) Changing your nonprofit’s name or principal address can feel simple at first — but if you miss a requirement, costly problems can follow, including lost IRS correspondence, compliance issues with your Secretary of State, or even involuntary […]
What is a Registered Agent & Why Your Nonprofit Needs One
The registered agent is the person who is supposed to be notified of a lawsuit or claim against the nonprofit. An organization’s registered office must be a physical address where the registered agent can be served with process during business hours. It cannot be a post office box that is part of a commercial mail or message service.
Can I Deduct the Value of My Volunteer Service to a Nonprofit?
Can I receive a tax deduction for my volunteer service to a nonprofit organization?
The IRS will not allow individuals to deduct the value of their volunteer service on their individual income tax returns…but there are certain deductible items.
Public Charity vs. Private Foundation: What’s the difference and what’s best for your organization?
The terms of nonprofit entities can be so confusing … public charity … private foundation … private nonoperating foundations … private operating foundations … public charities that act as foundations. What are they, and how do you tell which is which?
Since 1968, the Internal Revenue Code has distinguished Section 501(c)(3) nonprofit organizations into two tax categories: private foundations and public charities…
How to Set Up a 501(c)(6) Business Association
Set-up a business association today. Our law firm offer helps business leagues, trade groups, chambers of commerce, and real estate boards with corporate governance and 501(c)(6) tax-exempt issues.
Nonprofit Compliance Legal Checklist: Annual Meeting, Donor Acknowledgements, 990s, Grant Reports, State Reports
Non Profit Year End Checklist. There are several items your nonprofit must complete each year, including: annual meeting, minutes, grant reports, thanking donors, reporting requirements. Here’s help from Texas attorney for nonprofits and associations.
Are you doing what you say you will? Check & review your Nonprofit Mission Statement & Activities
Nonprofit mission statements define a nonprofit organization; they state what your organization does and whom it serves.