Category Archives: Current events and comments
IRS ACT
For the past three years I served on the IRS Advisory Committee on Tax Exempt and Government Entities, known also as “the ACT”, and its related Exempt Organization (“EO”) subcommittee. Our subcommittee worked directly with the IRS leadership which oversees the nation’s nonprofit … Continue reading
Posted in Advisory Committee on Tax Exempt and Government Entities (ACT), Current events and comments, IRS, Nonprofit Organizations, Tax exempt organization
Tagged Exempt organizations, IRS ACT, IRS Advisory Committee on Tax Exempt and Government Entities, Nonprofit organizations, The Nonprofit Mentor
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Public Funds Bring Increased North Carolina Nonprofit Transparency
Effective October 1, 2012, North Carolina nonprofit corporations receiving more than five thousand dollars ($5,000.00) of public funding within a fiscal year from any local, state, or Federal government shall disclose their latest annual financial statements upon written demand from any member … Continue reading
Posted in Board of Directors, Current events and comments, Exempt Organizations, Governance, Management, Nonprofit Organizations, North Carolina
Tagged Best practices, Exempt organizations, Nonprofit lawyer, Nonprofit organizations, Nonprofit website, North Carolina nonprofit lawyer, North Carolina nonprofits, Public funds, Transparency
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IRS ACT Report
The IRS Advisory Committee on Tax Exempt and Government Entities (“ACT”) issued its eleventh “Report of Recommendations” at a public meeting recently held at the IRS headquarters in Washington, D.C. The ACT consists of legal practitioners, external stakeholders, and representatives who advise and work with employee retirement plans; tax-exempt organizations; … Continue reading
Posted in Advisory Committee on Tax Exempt and Government Entities (ACT), Current events and comments, IRS, Nonprofit Organizations, Starting a Nonprofit
Tagged 1023 application, Form 1023, IRS, IRS ACT, IRS Advisory Committee on Tax Exempt and Government Entities, Nonprofit lawyer, Tax exempt status
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Philanthropy in America: A History
Nonprofit clients generally only want to know what they can or cannot do. They seldom ask about the history which often explains current nonprofit laws and practices. However, understanding the history of modern philanthropy is invaluable for providing context. Philanthropy … Continue reading
Sustainability: Walmart, Whole Foods, Patagonia, and Benefit Corporations
On April 22, 1970 the first Earth Day initiated significant awareness about environmental sustainability which encompasses a product’s full life cycle impact on the environment. Although Earth Day’s intial effect on business was minimal, this post describe how public and … Continue reading
IRS and States- Registered agents, revocations, and responsibility
In the wake of the IRS’ initial announcement that more than 275,000 nonprofits had their exempt status revoked, the IRS noted new revocations will published monthly. These revocations occur as a matter of law because a nonprofit didn’t file their IRS 990 forms for three consecutive years and are not a discretionary act by … Continue reading
Posted in Board of Directors, Current events and comments, Exempt organization, Exempt Organizations, IRS, Nonprofit Organizations
Tagged Charitable solicitation licenses, Database, Electronic filing, Exempt organizations, Registration acts, State charity officials, Tax exempt status
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A Web Link on IRS.gov
Nonprofit Quarterly published my article “The Case of the Disappearing Exempt Organizations Link on IRS.gov” on Wednesday, August 24, 2016. It is a short article -well not quite as short as this blog. My article was prompted by a 2016 … Continue reading →