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Tag Archives: Exempt organizations
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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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
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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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
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
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 →