Risk management should be among the top strategic initiatives of every nonprofit board of directors. Establishing effective policies and procedures will help, as will requiring separation of duties and limiting conflict of interest. But, what if your nonprofit owns real…
COVID-19 (still around!). Economic uncertainty. Political turmoil. But yet, signs of recovery sprinkled in. Nonprofits meeting needs. It’s been yet another strange year, for sure.
In a landmark ruling issued at the end of June 2021, the Supreme Court overturned a California law requiring donor disclosure in favor of donor privacy rights.
A nonprofit’s source of revenue can greatly affect its potential IRS classification of 501(c)(3) status. Often, an organization’s purpose determines any sub-classification. In this article, we’re going to take a look at what happens when it is revenue that determines…
A group exemption affords the opportunity for a nonprofit organization to share the tax-exemption of another 501(c)(3) without having to apply to the IRS for their own status. There’s a lot to it, so let’s take a closer look.
Many nonprofits tend to focus primarily on their federal compliance filings, such as IRS Form 990, and for good reason. All tax-exempt nonprofits must file a version of Form 990 each year. But for organizations based in other states, particularly…
COVID-19. In our hometown of Nashville, a devastating tornado. Injustice. Protests. Riots. A Presidential election. More COVID-19. Is it over yet?
The CARES Act legislation that was approved in the early days of the COVID-19 pandemic (spring of 2020) helped many nonprofits with its Paycheck Protection Program. Thousands of charitable organizations nationwide were able to secure forgiveable loans from the Small…
Newly passed legislation is heading to President Trump’s desk that will substantially alter the original forgiveness terms for PPP loans.
As expected, the IRS has officially extended the filing deadline for 2019 Form 990.