A 501(c)(3) nonprofit is not taxed on revenue that comes from an activity that is substantially related to the organization's tax-exempt purpose (charitable, educational, religious, scientific, or ...
What are the benefits of having 501(c)(3) tax-exempt status?
Many people mistakenly believe that all nonprofits automatically have IRS 501(c) tax-exempt status or state tax exemption. So, first, is important to note the distinction between "nonprofit" and ...
How Nonprofits Should Classify Part-Time Staff – Employee or Independent Contractor?
Should Nonprofits Classify Part-Time Staff as Employees or Independent Contractors? Many nonprofit organizations do not have the funds to pay a full-time staff, or even one full-time worker. They ...
Help with IRS Form 990
While tax-exempt nonprofit organizations do not pay federal taxes (that is what “tax-exempt” means), most do have to file an annual informational return with the IRS called the Form 990. The IRS ...
Year-End Giving – Can I Deduct the Value of My Volunteer Service?
Can I deduct the value of my volunteer service to a nonprofit? The IRS will not allow individuals to deduct the monetary value of their volunteer service to a nonprofit on their individual income tax ...
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 ...
501(c)(7) Social Clubs and Recreational Organizations – How to stay tax-exempt
Fraternities, country clubs, hobby clubs and sports clubs all are examples of groups organized for social, recreational and similar nonprofit purposes that are tax exempt under Section 501(c)(7) of ...
IRS Tea Party Targeting Scandal
The IRS apologized Friday for what it acknowledged was "inappropriate" targeting of conservative political groups in the process for applying for tax-exempt status. Details of the scandal emerged from ...
Nonprofit Law Q&A: How Do I Form a 501(c)(3) Nonprofit Corporation?
How Do I Form a 501(c)(3) Nonprofit Corporation? If you want to start a nonprofit, you should first understand that "501(c)(3)" tax-exempt status and "nonprofit" corporate status are two different ...