Tag: Not For Profit

Do you have an idea for a new venture with social benefits or environmental applications? You can set up as a for-profit entity — such as a C corporation, S corporation or limited liability company Read More

While your P&L paints a broad picture of financial viability, it may not be telling you the whole story. Too often, businesses have a financial reporting structure that makes it difficult to identify what’s driving Read More

The 2022 tax-filing deadline is fast approaching for many not-for-profit organizations. If you operate on a calendar-year basis, your filing deadline is May 15, 2023. Otherwise, you must file by the 15th day of the Read More

Each year, your non-for-profit organization must carefully determine the proper Form 990 return to file because penalties can be assessed for failing to file the right version. If a form is materially incomplete or the Read More

The SECURE Act 2.0, a follow-up to the SECURE Act of 2019, was enacted in the waning days of 2022. This new law introduces sweeping changes for qualified retirement plans, including 403(b) retirement savings plans Read More

Many job seekers and others assume that not-for-profit organizations offer fewer or less-generous fringe benefits to employees than for-profit companies. But that's not necessarily true. According to a recent survey by the Nonprofit Times, 87% Read More

If your not-for-profit focuses most of its fundraising energy on donors who can contribute to your mission and programs now, you may have neglected legacy gifts. Such gifts represent a portion of wealthy donors' estates Read More

If your organization has met the IRS qualifications to be considered tax-exempt, the income you receive — such as donor contributions — is exempt from federal income tax. However, it's still possible for not-for-profits to Read More

Revenue generated by 501(c)(3) organizations is generally exempt from federal income tax. But in some cases, your not-for-profit may incur unrelated business income tax (UBIT) on revenue. The good news is your annual tax return Read More

If your not-for-profit organization operates on a calendar-year tax basis, the deadline for filing your 2021 Form 990 (Form 990 EZ for certain small organizations) is right around the corner — May 15, 2022. Besides filing Read More