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 ...
Nonprofit Year-End Legal Checklist: Annual Meeting, Donor Acknowledgements, 990s, Grant Reports, State Reports
We're making a list...checking it twice! A legal checklist, of course. Here's a helpful nonprofit year end checklist to make sure you've covered your bases. 1. Annual Meeting & Minutes of ...
What are the benefits of having 501(c)(3) tax-exempt status?
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 ...
Nonprofit Law Basics: Does a Nonprofit Need Tax Exempt Status?
A common misconception is that all nonprofits are automatically tax-exempt. This article outlines nonprofit and tax-exempt status and whether both are needed. We have outlined in other posts ...
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 ...