Tag Archives: Nonprofit 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

Posted in Board of Directors, Current events and comments, Exempt Organizations, Governance, Management, Nonprofit Organizations, North Carolina | Tagged , , , , , , , , | Leave a comment

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

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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 – 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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