Author Archives: Greg McRay, EA

About Greg McRay, EA

Greg McRay is the CEO and co-founder of The Foundation Group. He is registered with the IRS as an Enrolled Agent and specializes in 501(c)(3) and other tax exemption issues.

Common Myths Concerning Nonprofits

Posted on August 20, 2010 by Greg McRay, EA

Just yesterday, I was interviewing a new student intern candidate in my office.  During the course of our wide ranging discussion, the conversation turned to some of the interesting misconceptions we encounter with clients.  I made the comment that we … Continue reading →

Posted in Education, Funding, Managing a Nonprofit | Tagged , , , , , | 9 Comments

The True Cost of Noncompliance

Posted on August 3, 2010 by Greg McRay, EA

Noncompliance.  As the word suggests, noncompliance is the opposite of compliance.  But what does noncompliance mean as it relates to your nonprofit?  More important still, what is the true cost of noncompliance? If you have been a client or follower … Continue reading →

Posted in Managing a Nonprofit | Tagged , , , , , , | 9 Comments

IRS Announces Deadline for Tax Exemption Revocations

Posted on July 27, 2010 by Greg McRay, EA

The IRS has finally announced its decision regarding the extension it promised to small charities facing the loss of tax exemption due to not filing Form 990N.  Now, small nonprofits have until October 15, 2010 to file Form 990N and … Continue reading →

Posted in Hot Topics, Managing a Nonprofit | Tagged , , | 1 Comment

Don’t Avoid Your Nonprofit’s Problems

Posted on July 13, 2010 by Greg McRay, EA

Imagine this scenario:  You are catching up on Facebook one night when you see a post from a friend.  Someone you both know has been diagnosed with a horrible disease and given little hope for recovery.  You find out later … Continue reading →

Posted in Managing a Nonprofit | Tagged , , , , | 2 Comments

Update on IRS Tax Exemption Revocations

Posted on July 9, 2010 by Greg McRay, EA

It’s been almost two months since most tax-exempt organizations were required to file their annual IRS Form 990.  As we have discussed at great length on these pages, the due date for tax year 2009 was the doomsday date for … Continue reading →

Posted in Education, Managing a Nonprofit | Tagged , , , | 1 Comment

Get More Out of Your Fundraising Efforts

Posted on June 18, 2010 by Greg McRay, EA

Let’s face it.  Times couldn’t be tougher for many nonprofits, especially when it comes to raising money.  And in the nonprofit world, things often run in inverse proportion:  The tougher the economy, the greater the need…and the scarcer the resources.  … Continue reading →

Posted in Funding, Managing a Nonprofit | Tagged , , , | 3 Comments

Paying an Independent Contractor? Are You Sure?

Posted on June 11, 2010 by Greg McRay, EA

This is a conversation our staff members have with clients at least 4 or 5 times per week:  The issue of a nonprofit hiring and paying an independent contractor.  What is fascinating is the degree of resistance we often get … Continue reading →

Posted in Managing a Nonprofit, Nonprofit Payroll | Tagged , , , , , | 1 Comment

New IRS 1099 Rules Set to Hit Charities Hard

Posted on June 3, 2010 by Greg McRay, EA

It seems like the hits just keep on coming.  First it was the Form 990-N rule changes that will cost a yet-to-be-determined number of nonprofits their tax exemption.  Now organizations are waking up to the news that the controversial new … Continue reading →

Posted in Commentary, Managing a Nonprofit | Tagged , , , , | 7 Comments

IRS Adds More Uncertainty to Tax Exemption Revocations

Posted on May 19, 2010 by Greg McRay, EA

What a mess!  Now that May 17, 2010 has come and gone, we are waiting to see just how many 501(c) organizations around the country have lost their tax exemptions.  For those of you who have been keeping up, you … Continue reading →

Posted in Hot Topics, Managing a Nonprofit | Tagged , , | 3 Comments

One-Fourth of Nonprofits Set to Lose Tax Exemption

Posted on May 4, 2010 by Greg McRay, EA

Doomsday is coming…May 18, 2010 to be exact.  No, it has nothing to do with the Mayan calendar ending (that’s 2012!).  May 18 is the day that nearly 1/4 of all US nonprofits find that the IRS has automatically revoked … Continue reading →

Posted in Education, Managing a Nonprofit | Tagged , , , | 24 Comments

Questions You Must Answer Before Starting a Nonprofit

Posted on April 21, 2010 by Greg McRay, EA

So…you want to start a nonprofit.  Fantastic!  That puts you in pretty good company.  In any given year, as many as 75,000 applications for 501(c)(3) tax exemption are filed with the IRS.  Less than half survive the process, but there … Continue reading →

Posted in Education, Funding, Managing a Nonprofit, Starting a nonprofit | Tagged , , , , , , | 6 Comments

Difficult People on Your Nonprofit Board

Posted on March 23, 2010 by Greg McRay, EA

Difficult people.  Whether it be a co-worker, a neighbor, or even that very special “in-law”, we all have them in our lives.  Chances are, you will have one serving on your nonprofit’s board of directors…if not now, eventually.  Sort of … Continue reading →

Posted in Education, Managing a Nonprofit | Tagged , , , , | Leave a comment

When The Going Gets Tough

Posted on March 4, 2010 by Greg McRay, EA

We all have our moments of discouragement.  There are times when we are getting beaten up so badly that we would rather throw in the towel than continue to get pummeled.  This situation can occur in just about any area … Continue reading →

Posted in Education, Managing a Nonprofit | Tagged , , , , | 3 Comments

Following Up on Form 990 Schedule O

Posted on February 23, 2010 by Greg McRay, EA

It seems that there has been some confusion regarding last week’s article on IRS Form 990, particularly Schedule O.  In this short article, I want to expand a bit on that discussion and clear up some misconceptions. We had a … Continue reading →

Posted in Commentary, Hot Topics, Managing a Nonprofit | Tagged | Leave a comment

“O” No! The IRS Has A Few Questions For You

Posted on February 18, 2010 by Greg McRay, EA

I can already hear some of your sarcasm… “Tell me something I don’t know!” “You’re kidding!  The IRS?  Really?” Point taken.  It seems like the IRS always wants to know a thing or two about you.  Whether it is your … Continue reading →

Posted in Education, Hot Topics, Managing a Nonprofit | Tagged , , , , , | 3 Comments