Maintaining timely and accurate financial records is one of the most important responsibilities facing every nonprofit organization. But doing it right is time-consuming, and the rules are complicated.
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…
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…
One of the questions we are frequently asked when it comes to charitable solicitations or fundraising registration is the cost of non-compliance. What risk does an organization run if it fails to properly register in a state where it’s required?
Being a member of a nonprofit’s Board of Directors comes with a lot of responsibilities. You are part of the organization’s governing body. You are expected to provide guidance and oversight, as well as strategic planning. You have a monetary…
Your organization has made it to the end of 2020. Now what? After this year, deciding to keep moving forward is possibly the hardest the decision you can make…but it is also the most beneficial.
The year may be soon coming to a close, but now is the time to be intentional about what success looks like for your organization. By having these integral items on your year-end checklist, you’ll be off to a good…
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…
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.
We get a lot of questions from our clients about their organizations’ meeting minutes. Our exemption specialists often give advice on questions like “When should we record meeting minutes?” and “Why are meeting minutes so important?” There is great importance…