In President Obama’s recently released budget, the White House is asking legislators to pass a law mandating electronic filing for IRS Form 990. The request asks for any legislation to include a 3-year phase-in period. Currently, only those nonprofits with more than $10 million or more in assets are required to file electronically. Approximately 50% [...]
IRS Makes Significant Changes to 2013 Form 990
It’s that time of year, again…time to start thinking about your nonprofit’s Form 990 filing for the 2012 tax season. It seems like we just had this conversation, doesn’t it? To help get us in the spirit of compliance, the IRS just released its comprehensive list of changes for Form 990. There are quite of [...]
IRS Scrutiny of New Nonprofits on the Rise
Applying for tax-exempt, 501(c)(3) status has always been a formidable process for the uninitiated. From the planning to the paperwork to the IRS follow-up, it has never been a walk in the park. The Foundation Group has worked with nearly 13,000 nonprofit startup clients since our founding in 1995. Over the years, we have seen [...]
Year-End To-Do List for Nonprofits
Well, we are pretty much down to it. There are only a few weeks left in 2011…and during much of that time, most of us will be preoccupied with all things Christmas. But in all the hustle and bustle, there are a few things regarding your nonprofit that require your attention. The following is a [...]
Six Ways to Really Scare Away Your Donors
Halloween is upon us…and there is no more appropriate topic that we could cover than how to effectively scare away donors. In the, um, spirit of the season, let’s look at six ways to guarantee donors will want nothing to do with you!
Is Your Nonprofit Repelling Donors?
Every nonprofit in existence needs money. Your ability to pay the bills depends upon it, not to speak of your ability to accomplish your mission. But do you really understand what it takes to be attractive to donors? Is your organization truly fundable? Or, have you inadvertently created an atmosphere that repels givers? In this [...]
The True Cost of Noncompliance
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 of Foundation Group for any length of time, you have heard us hounding you to [...]
Questions You Must Answer Before Starting a Nonprofit
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 is certainly no lack of interest in doing something charitable. But what does it really [...]
“O” No! The IRS Has A Few Questions For You
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 personal tax situation, your business or your nonprofit organization, the Internal Revenue Service seems to [...]
States Inflicting Form 990 Pain on Small Nonprofits
Posted on July 12, 2012 by Greg McRay in Commentary, Education, Hot Topics, Managing a Nonprofit
If you had told me three years ago that state-level compliance for nonprofits would someday become more of an issue than dealing with Uncle Sam, I would have been quite skeptical. If you had told me that it would happen by 2012, I might have laughed it off completely. More difficult than dealing with the [...]