Sports Clubs and Tax-Exemption: 501(c)(3) Eligibility and Requirements
In general, when we think of nonprofits, we automatically think of some of the most obvious and prevalent types, for example, a food bank, an animal rescue shelter, or a...
Navigating 990-PF: A Step-by-Step Guide for Parts 5-8
Congratulations on successfully completing Parts 1-4 of your Form 990-PF! Not quite there yet? Be sure to read the first blog in our 990-PF series here. Now, let’s dive into...
Form 990-PF for Private Foundations: Completing Parts 1, 2, 3, and 4
The 990-PF form is a lengthy document consisting of 13 pages, and 16 Parts that allow the foundation to provide extensive information to the IRS regarding the activities and actions...
Hospitals and their Tax-Exempt Status: Eligibility and Filing Requirements
t is a common misconception that the nonprofit sector is always cut and dry. There are many types of organizations that can be considered a nonprofit or a for-profit depending...
Savvy Tips for Retaining and Accessing Your Nonprofit’s Vital Documents
Keeping meticulous records is not just a best practice; it’s an essential requirement for nonprofits. You never know when you might need to access historical financial data, crucial governing documents,...
Finishing Up Your Organization’s Form 990: Parts 10-12
When it comes to financial reporting for your organization, the balance sheet plays a pivotal role. It serves as the financial snapshot that showcases your assets and liabilities, ultimately determining...
Certain Nonprofits are Required to File IRS Form 990 Returns by October 16th
Many people think that nonprofit organizations don’t have strict IRS reporting requirements because they are tax-exempt. This is a major misconception. Those who operate or work closely with nonprofit organizations...
A Deep Dive into Completing IRS Form 990: A Closer Look at Parts 7-9
The IRS Form 990 can be a complex and intimidating tax return. Whether you have recently taken on this responsibility of filing for an organization that you volunteer with or...
Breaking Down Nonprofit Tax Form 990: Navigating Parts 4-6
Form 990: it’s a document that strikes fear into the hearts of many nonprofit organizations, but it doesn’t have to be that way. We’re taking apart each scary portion of...