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Charitable Activities in a Foreign Country

The issue of a nonprofit operating in a foreign country is rather complex. It can involve multiple government agencies and be fraught with pitfalls that can only be avoided if you understand the rules. If you are like many of…

Form 990

What is IRS Form 990?

The instructions for IRS Form 990, the long form, are 103 pages long. IRS Form 990-EZ, its mid-range form, instructions are 48 pages long. IRS Form 990-PF, only for private foundations - but required of all private foundations regardless of…

Calculating business expenses

How to Allocate Nonprofit Expenses

There are some universal truths when it comes to nonprofits that are not dependent on the size of the organization. This is especially true about money. While yes, the amount of revenue determine which Form 990 the nonprofit is required…

texas tax exemption

State Nonprofit Compliance: Understanding Texas Tax Exemption

Nonprofits that file for 501(c)(3) status with the IRS enjoy federal tax exemption when that status is approved. In most states, the IRS determination letter is all that is required to also enjoy state corporate tax exemption. Texas is one…

Mature Woman Accounting

How to Categorize Operations Revenue

In part two of our reporting series, we want to address how to categorize some of the other types of revenue a nonprofit organization frequently encounters. Donations aren't the only type of funding with specific reporting requirements. Non-gift revenue sources…

Donations

How to Categorize Donations

Funding your nonprofit organization and making a difference in your community is not an inexpensive feat. So, you start fundraising! And hopefully, you are successful in finding people who want to donate. But what does that look like in your…

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