Category Archives: Hot Topics

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 →

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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 →

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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 →

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“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 →

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This Year’s Form 990 is a Very Big Deal

Posted on February 8, 2010 by Greg McRay, EA

The filing deadline for the 2009 Form 990 is May 17, 2010 for 501(c)(3) and other tax-exempt organizations running on a calendar year basis.  There is nothing particularly new about that.  What IS new is that this year’s filing obligation … Continue reading →

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News For Nonprofits

Posted on January 26, 2010 by Greg McRay, EA

As long-time readers of our articles know, most of our posts focus on tips and best practices for effective nonprofit management.  This post is going to be a little different.  There is so much going on right now that affects … Continue reading →

Posted in Education, Hot Topics, Managing a Nonprofit, Starting a nonprofit | Tagged , , , , , | 15 Comments

Haitian Charities Need Your Help

Posted on January 14, 2010 by Greg McRay, EA

Given the sheer number of clients we work with, we rarely highlight specific ones or their needs.  The devastation caused by the earthquake in Haiti is almost beyond imagination.  Below is a list of Foundation Group clients that work in … Continue reading →

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Surviving an IRS 501(c)(3) Audit – Five Rules

Posted on October 13, 2009 by Greg McRay, EA

In our last post, we took a look at five of the most common sources that could spark an IRS examination or audit of your 501(c)(3) organization (or other nonprofit).  In this article, we’re going to equip you with five … Continue reading →

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IRS 501(c)(3) Audits – 5 Potential Sources

Posted on September 30, 2009 by Greg McRay, EA

There is one phrase in the English language that generates more fear and trepidation than any other out there:  IRS AUDIT.  Just hearing the words is enough to cause many a fearless person to break out in a cold sweat … Continue reading →

Posted in Education, Hot Topics, Managing a Nonprofit, Nonprofit Payroll | Tagged , , , , , , | 4 Comments

Thrift Store Redux – It’s Back!

Posted on September 18, 2009 by Greg McRay, EA

In case you missed our blog about this story earlier in the year, the nanny-state strikes again.  Back in January, we told you about a new consumer “protection” law, the Consumer Product Safety Improvement Act, that was going into effect … Continue reading →

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Bad Seeds – Why the ACORN Scandal Matters to Other Nonprofits

Posted on September 16, 2009 by Greg McRay, EA

The Association of Community Organizations for Reform Now, aka ACORN, was, until the past year, a relatively unknown organization to most Americans.  Founded in 1970 and based in New Orleans, Louisiana, ACORN’s most visible face is that of a 501(c)(3) … Continue reading →

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Happy Birthday to Foundation Group!

Posted on September 9, 2009 by Greg McRay, EA

September 15, 2009 is Foundation Group’s 14th birthday.  As one of the founders of this company (the other being Mr. Blair Dudley), I’ve been here since day one.  Believe me…there are days when it seems like a lot longer than … Continue reading →

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Safeguard Your Mission: How to Protect Your Nonprofit from Fraud

Posted on August 12, 2009 by Greg McRay, EA

Fraud is a word that conjures up many images in your mind.  Maybe your definition of fraud is someone lying to you, stealing from you or conspiring against you while pretending to help you.  All of these are true…and it … Continue reading →

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How Much Is Too Much? The Limits of Benevolence

Posted on August 4, 2009 by Greg McRay, EA

The idea for this article came from my good friend, Belinda from Madison, Alabama.  A few weeks ago, she wrote us an email asking the following: “Due to the economic downturn and, with the increasing requests for benevolence assistance, are … Continue reading →

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Charitable Solicitations – Time to Get Compliant!

Posted on July 7, 2009 by Greg McRay, EA

Charitable Solicitations Registration. “Never heard of it,” you say.  Well, you are not alone.  As astounding as it may seem, estimates of noncompliance range from 85-95% of charities and nonprofits nationwide.  This level of noncompliance has persisted primarily because of … Continue reading →

Posted in Education, Hot Topics, Managing a Nonprofit, Starting a nonprofit | Tagged , , , | 4 Comments