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.
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…
If you have experience in the for-profit world, you have likely heard the common advice that you should incorporate a new business in the state of Delaware. More than 60% of Fortune 500 companies are incorporated in Delaware. There are…
Many nonprofits tend to focus primarily on their federal compliance filings, such as IRS Form 990, and for good reason. All tax-exempt nonprofits must file a version of Form 990 each year. But for organizations based in other states, particularly…
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…
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…
One of the least understood compliance issues facing nonprofits is charitable solicitations registration. Consequently, this also makes it the filing that an organization is most likely to be delinquent concerning. And that’s a recipe for trouble…trouble that is unnecessary and…