The king of the nonprofit world is the 501(c)(3) public charity. This is what most people mean when talking about a nonprofit. It has federal income tax exemption, contributions to it are tax deductible to the donor and it is…
In the world of nonprofits, it’s all about fundraising. You can’t do much in the way of service delivery or mission fulfillment without money. For fundraising staff, it IS all about raising money and sometimes it can be a challenge.…
One of the things that you learn quickly when starting and operating a 501(c)(3) organization is that you have to handle money wisely. A nonprofit is no different than any other business in that you must make ends meet. Otherwise,…
Private foundations are a unique class of 501(c)(3) organization...so unique, in fact, that they have their own exclusive version of IRS Form 990, called Form 990-PF. In this post, our 5th in this series, we’re going to examine just what…
IRS Form 990, the full-length version, is arguably the most detailed tax return the average person is likely to encounter. While there are certainly IRS tax forms that are equally complex, most are used for very targeted situations, not for…
This article is the third in our series that explores the various versions of IRS Form 990. Form 990-EZ is annual information return filed by small-medium sized public charities and certain other nonprofits, at least as measured by gross revenue.…
As we established in our Form 990 overview post, there are 5 versions of IRS Form 990, one or more of which is required to be filed annually by every 501(c) organization. Form 990-N, the shortest version and the one…
Wouldn't it be great if your nonprofit never had to think about the IRS again, once they approved your 501(c)(3) status, that is? Well, as you can imagine, that simply isn't the case. Nor should it be, truthfully. As it is, the…
Once you’ve decided your mission, developed an operations strategy and started building a team, it’s time to prepare and file your incorporation documents and 501(c)(3) status applications. If you’ve done your homework properly in documenting your mission, strategy and plans,…
After incorporating in your state and setting up your nonprofit’s 501(c)(3) status with the IRS, the biggest regulatory concern that you’ll have is maintaining ongoing compliance with the law. The regulatory filings required for both state and federal entities are used to determine whether your…
