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% [...]
An Obituary for National Heritage Foundation?
On January 24, 2009, National Heritage Foundation filed for Chapter 11 bankruptcy protection in federal court. Is this the end for NHF? Read the Forbes story here National Heritage Foundation, NHF, was founded by J. T. “Dock” Houk as a 501(c)(3) fiscal agency for nonprofits using a donor-advised funds scheme. NHF operated under the premise [...]
US Bans Thrift Stores (updated)
Got your attention? Good…because what we’ve got to report on will shock you…and could have a devastating impact on some charities and the families that depend on them. Congress, in a stroke of genius that was too smart by half, passed the Consumer Product Safety Improvement Act in August 2008. It takes affect February 10, [...]
Bad Seeds – Why the ACORN Scandal Matters to Other Nonprofits
Posted on September 16, 2009 by Greg McRay in Commentary, Hot Topics
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) public charity ostensibly advocating for low- and moderate-income families in the areas of neighborhood safety, [...]