In the realm of nonprofit management, the term ‘annual report’ often conjures images of glossy brochures detailing financial health and community impact. However, there’s another…
For every nonprofit, understanding and fulfilling tax obligations is critical to legal compliance. Form 990, the IRS annual report that nonprofits must file, is central…
Public Charity vs. Private Foundation For nonprofit organizations, understanding the distinctions between being classified as a public charity or a private foundation is fundamental, especially…
Nonprofit organizations play a crucial role in serving communities and addressing societal needs. However, beyond the altruistic mission lies a crucial administrative task—complying with IRS…
As the 2024 nonprofit tax season unfolds, it’s crucial to revisit the essentials of Form 990 to ensure your 501(c)(3) organization remains in compliance with…
Nonprofit organizations are required to disclose their financials and governance annually by filing the appropriate 990 tax form with the IRS, due no later than…
In our nonprofit startup series, we’ve been exploring the nonprofit startup checklist step-by-step. Part 1 of the series provided information on initial paperwork for nonprofit…
TAX TIME CONCEPTIf your nonprofit organization is seeking the benefits of 501c3 federal tax-exempt status, then you must apply directly to the IRS. This means…
As we had hoped and anticipated, the IRS has extended the deadline for 990 due dates. Despite the six-month grace period, it is still a…
If you have formed a nonprofit organization, you will want to know the filing requirements to help maintain your nonprofit and federal tax exemption status.…
