It 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
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
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
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
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
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
Admin | October 5, 2023 | Reading time: 13 minute(s)
Each and every year, thousands of nonprofit organizations file a Form 990–and while IRS regulations mean that all churches (that meet the requirements of 501(c)(3) status) are not
Admin | October 4, 2023 | Reading time: 15 minute(s)
Do Schools and Educational Organizations Need to File a 990? Yes! Even after obtaining tax-exempt status, your School/Educational Organization still must report their financial status, activities, and certain
As a nonprofit organization, you are 100% dedicated to your mission and bettering your community. As the leader of the organization, you probably have many unofficial titles and
Admin | September 23, 2023 | Reading time: 12 minute(s)
While Animal Rescue Organizations are tax-exempt, there’s still certain information regarding their financial activities that must be reported to the IRS annually. This is done by filling