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America's First Choice for Nonprofit Startup and Compliance

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When Foundation Group launched in 1995, we were the first specialty firm in America dedicated exclusively to starting nonprofits and helping them to stay compliant with state and federal regulations.

20 years later, we're still going strong!  In fact, our client base continues to grow exponentially every year...and we've never been more committed to bringing our clients the expertise they need to see their vision come to pass.  Simply put, we love what we do and we're passionate about doing it with excellence!

We were the first...and we've never stopped leading!  Call us and see why we are America's first choice for nonprofit startup and compliance services.

IRS Releases Guidance for Tax Exemption Reinstatement

As you are likely aware, the IRS finally released its long-delayed Nonfiler Revocation List last week.  On it were the names of 275,000 nonprofits that had their 501(c) status revoked (see previous post).  There has been some confusion and some mistakes, as would be expected with anything that impacts up to 20% of all tax-exempt organizations, but by and large, it appears the time the IRS took to get it right may have resulted in just that.

So, now what?  The IRS has issued guidance for those organizations who lost status in the form of 2 Revenue Procedures, 2 official Notices and 1 announcement.  For your reading (and possibly reinstatement) pleasure, here they are (in summary…click on the link for the full text):

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275,000 Nonprofits Lose Tax Exempt Status

Well, it’s official.  We’ve known this day was coming since the Pension Protection Act was passed into law in almost 5 years ago.  On the afternoon of June 8, 2011, the IRS released the initial list of nonprofits that have automatically lost 501(c) tax exemption due to non-filing of Form 990 for 3 consecutive years, 2007-2009.  The numbers, while expected, are still staggering:

275,000 Nonprofits Are No Longer Tax Exempt!

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