Yes. However, the fees should be for provision of services which help to achieve the exempt purpose. These fees should be reduced in comparison with…
To remain in compliance, the organization must submit a Form 990 each year. This form (which comes in a variety of formats depending on the…
This varies by state. Some states will automatically exempt organizations that have been deemed exempt at the federal level. Other states require organizations to apply…
501 Board Requirements: You must have at least 3 individuals – President, Secretary, Treasurer. For all public charities, regardless of the number of board members, the…
Yes, however there must always be a majority of “uninterested” individuals on the board. This means unrelated by blood, marriage, adoption, or business, and not…
Successful Nonprofit Organizations Are Created Every Day.Here’s How It’s Done. No one ever said that building a successful nonprofit would be easy. Yet to become…
501(C)(3) is an IRS designation identifying tax-exempt organizations. The name comes from the fact that this type of organization is defined under Section 501(c) of Title…
There are five versions of the IRS Nonprofit Form 990: 990-N: Small 501(c)(3) organizations with gross receipts that are normally less than $50,000. 990-EZ: Gross receipts…
Form 990 Tax Preparation 990 Tax Form knowledge to keep your 501c3 in compliance If you’re running a tax-exempt organization, the 990 tax form should…
Organizations with less than $50,000 in gross revenue qualify to file Form 990-N. The IRS sometimes refers to 990-N as the e-Postcard. The 990-N is the most…
