When starting a 501(c)(3) organization, there are generally two choices of how the organization will be classified. It can be a public charity or a private foundation. Though greatly outnumbered by public charities, private foundations bring a lot to the…
It is essential for startup nonprofits to have a strong organizational structure. This structure is built through the board of directors. But what exactly is a board of directors and what role does a board play within a nonprofit? The…
So, it turns out that the IRS Exempt Organizations division has been targeting for intense scrutiny conservative and right-leaning nonprofits which were applying for tax exempt status. This was admitted in an preemptive apology by Exempt Organizations director, Ms. Lois…
About this time every year, the IRS issues a number of Revenue Procedures, which are official, formal pronouncements regarding the manner in which it will handle specific tax situations. Revenue Procedures don't exactly make law (only Congress can do that...theoretically,…
We have enormously exciting news to bring to you this morning: 501(c)(3) University™ is now enrolling! For those of you who have followed Foundation Group for a while, you may be familiar with the concept of 501(c)(3) University. We launched…
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…
Cincinnati, we’ve got a problem! Lately the Internal Revenue Service Exempt Organizations Division has begun to monkey around with the way it treats organizations applying for tax exempt status, particularly those nonprofits that have been around and operating for a…
It is an unfortunate reality: many self-described tax professionals are not professionals at all. They are more than willing to take a customer's money for "professional" work that often results in a nightmare situation for the taxpayer. This includes those…
Helping people start nonprofit organizations is one of the most important things we do at Foundation Group. In fact, we have helped over 14,000 organizations get started since 1995. The following is really more of an overview than an exhaustive…
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…
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