Tag Archives: Exempt organizations

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

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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

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Exempt Organizations – What Do You Call Your Organization?

Following my recent AFP webinar “When Raising Money, 10 Legal Things to Avoid” several participants wrote to ask what is the difference among the following:    Nonprofit corporation:  This corporate entity is generally defined by state law.  The definition may characterize a nonprofit corporation as having no … Continue reading

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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

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IRS – 275,000 Revoked Nonprofits and Guidelines to Reinstatement

The IRS announced that approximately 275,000 nonprofits nationwide had their tax exempt status revoked because they failed to file their 990 form for three consecutive years.  In North Carolina there are about 6, 300 nonprofits with their tax exempt status now revoked.   Many of these organizations are likely defunct or … Continue reading

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IRS – Advisory Committee on Tax Exempt and Government Entities

The Internal Revenue Service announced my appointment to serve as one of ten new members to the IRS Advisory Committee on Tax Exempt and Government Entities (“ACT”).  The ACT consists of external stakeholders and representatives who “provide valuable feedback and insight … Continue reading

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