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Effective Budgeting for Nonprofits

Effective Budgeting for Nonprofits

A common mistake made by both businesses and nonprofits alike is the failure to budget income and expenses.  Far too often, it’s a see-what-comes-in mentality that rules the day, with no attempt to plan, manage, or adapt to changing financial…

Fewer Nonprofits Got 501(c)(3) Status in 2015

Fewer Nonprofits Got 501(c)(3) Status in 2015

The Internal Revenue Service issued its annual compilation of agency data yesterday.  In what was a surprise to many, the number of approved applications for 501(c)(3) status actually dropped in 2015 from 2014’s numbers.  The 2015 fiscal year, which ended September…

IRS Advisors Asking Congress to Mandate Electronic Filing

IRS Advisors Asking Congress to Mandate Electronic Filing

An Internal Revenue Service subcommittee put forth a recommendation to require all tax-exempt organizations to file their annual tax forms electronically. During its annual public meeting, the subcommittee, IRS Advisory Committee on Tax Exempt and Government Entities (ACT), recommended the…

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