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Recent Posts
- Mad as Hell at the IRS!
- Incorporation 101 for the Social Enterprise
- May 15 is Calendar Year Tax-Exempt Orgs Form 990 Filing Deadline
- UBI Liability – Why the IRS Final Compliance Report for Colleges and Universities is Required Reading for All Nonprofits
- Why You Should Care about the Duty of Care
- Delays at the IRS. What’s Going On?
- IRS Expansion of the Voluntary Classification Settlement Program – Benefit or Risk?
- Canada Creates a New Hybrid Legal Form for Social Enterprise
Category Archives: Nonprofit
Incorporation 101 for the Social Enterprise
There has been a great deal of discussion lately in the social enterprise community about how to legally structure an entity that combines social mission with profit-making activities. Traditionally, it was difficult to serve these two purposes in a single … Continue reading
Posted in Benefit Corporation, Hybrid Organizations, Nonprofit, Social Enterprise
Tagged hybrid, incorporation, social enterprise
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May 15 is Calendar Year Tax-Exempt Orgs Form 990 Filing Deadline
Every nonprofit organization in the United States needs to be aware that May 15th is the deadline for filing Form 990 with the IRS for any organizations with a calendar fiscal year. The IRS has been strictly enforcing the automatic … Continue reading
UBI Liability – Why the IRS Final Compliance Report for Colleges and Universities is Required Reading for All Nonprofits
The IRS recently released its final Colleges and Universities Compliance Project Final Report. The report is the result of a study by the IRS of the tax practices of 400 colleges and universities. Among the topics discussed in the IRS … Continue reading
Posted in Federal Oversight, IRS, News, Nonprofit
Tagged Higher Education, IRS, Nonprofits, UBIT
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Delays at the IRS. What’s Going On?
Anyone who has applied to the IRS for tax-exempt status in the past year or two knows that there are extensive delays in processing these applications. The processing time for applications, which has historically been about 3 months, started growing … Continue reading
Posted in Federal Oversight, IRS, Nonprofit, Tax Exempt Law
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The Mending Wall – Technology Contracts for Nonprofits
When it comes to drafting and negotiating contracts, the best advice, in fact, may not be legal but poetic. In his poem “Mending Wall”, Robert Frost has his narrator counter the proverb “good fences make good neighbors” with this advice: … Continue reading
Commission on Accountability & Policy for Religious Organizations Issues Report
In December 2012, the Commission on Accountability & Policy for Religious Organizations presented a 91-page report to Senator Charles Grassley addressing various regulatory issues affecting the religious and broader nonprofit sector. Entitled Enhancing Accountability for the Religious and Broader Nonprofit … Continue reading
Fiscal Cliff Legislation – Good or Bad for Nonprofits?
On January 1, Congress passed The American Taxpayer Relief Act of 2012 to avoid the so-called “fiscal cliff.” The law raises tax rates to a maximum of 39.6 percent for individuals with incomes over $400,000 and married couples filing joint returns with incomes … Continue reading
Posted in IRS, News, Nonprofit
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Charity Navigator Dismisses Use of Joint Cost Allocations
In a little noticed move, Charity Navigator revised its financial performance efficiency metrics, which are used to determine one of the three star ratings in its system, by deciding to ignore organizations’ allocation of joint costs when accounting for program, … Continue reading
New York City Bites the Hand that Feeds It
Many New York City nonprofit organizations that use their properties for charitable and educational purposes have long enjoyed exemption from New York City property tax. Recently, a number of these organizations have received notices from the City’s Department of Finance … Continue reading
Posted in News, Nonprofit, Tax Exempt Law
Tagged New York, New York City, Property Tax Exemption
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IRS Guidance on Efforts to Aid Victims of Hurricane Sandy
On November 7, 2012, the Internal Revenue Service issued several bulletins that relate to charitable efforts to assist victims of Hurricane Sandy. Below is a summary of some of the key announcements. 1. Qualified disaster relief payments will not be … Continue reading
