Automatic Revocation of Exemption

Automatic Revocation of Exemption: "Automatic Revocation of Exemption


Most tax-exempt organizations are required to file an annual return or notice with the Internal Revenue Service. (See Annual Return Filing Exceptions for a list of organizations that are not required to file.) Section 6033(j) of the Internal Revenue Code automatically revokes the exemption of any organization that fails to satisfy its filing requirement for three consecutive years. The automatic revocation of exemption is effective as of the due date of the third required annual filing or notice."

Public Comment Sought On 990 - TheNonProfitTimes

Public Comment Sought On 990 - TheNonProfitTimes: "By: Samuel J Fanburg

The Internal Revenue Service (IRS) is inviting public comment on issues and frequently asked questions regarding Form 990. Issues for comment include a consideration to eliminate a section asking to report activity codes, reporting compensation to management companies and leasing companies owned by an organization's leadership, and thresholds for reporting compensation to key employees."

Editorial: Better way unfolds on nonprofits | The Leaf Chronicle – Clarksville, Tenn., and Fort Campbell | theleafchronicle.com

Editorial: Better way unfolds on nonprofits | The Leaf Chronicle – Clarksville, Tenn., and Fort Campbell | theleafchronicle.com: "This year, however, a council committee was formed to develop a more reasonable process for awarding city money to nonprofits. The process calls for the agencies to apply for the money and give a presentation at a public hearing. The committee then scores them on a number of criteria, such as their financial statements and the number of people they service."

This Announcement invites public comments on transitional issues and frequently asked questions involving the redesigned Form 990

2011 Form 990 – Issues for Public Comment
Announcement 2011-36
PURPOSE
This Announcement invites public comments on transitional issues and freqhtfuently
asked questions involving the redesigned Form 990.

Study Shows How Changes to the Tax Code Could Affect Giving - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas

Study Shows How Changes to the Tax Code Could Affect Giving - Government & Politics Watch - The Chronicle of Philanthropy- Connecting the nonprofit world with news, jobs, and ideas: "Study Shows How Changes to the Tax Code Could Affect Giving

May 31, 2011, 9:19 am

By Suzanne Perry

A new Congressional Budget Office study is looking into how changes in the way donors calculate their tax deductions for charitable donations would affect giving—and the federal budget."

Part II: Starting a Nonprofit in Arizona – Forming the Entity | CharityLawyer

Part II: Starting a Nonprofit in Arizona – Forming the Entity | CharityLawyer: "Once a non-profit founder has surveyed the non-profit landscape and found a legitimate need, recruited an initial board, created business and fundraising plans, and scraped together some start-up funding, he or she is ready to proceed. In Arizona, it usually makes the most sense to form the entity as an Arizona non-profit corporation. Very generally, the steps to creating a new non-profit corporation in Arizona are as follows:"

Mass. leads way to reining in charity exec pay - BostonHerald.com

Mass. leads way to reining in charity exec pay - BostonHerald.com: "Once again, Massachusetts is looking to be a leader.

Attorney General Martha Coakley, and legislators Sen. Mark Montigny (D-New Bedford) and Rep. Martha Walz (D-Boston) are poised to make Massachusetts the nation’s first state to bar public charities from paying directors. The issue will be debated by the state Senate this week."

Austin High School Students Sponsor Book Drive To Benefit Community Center In New Orleans | FortBendNow.com

Austin High School Students Sponsor Book Drive To Benefit Community Center In New Orleans | FortBendNow.com: "Austin High School’s Youth In Philanthropy student volunteers and their sponsors, Ayanna Banks and Christina Lau, have decided to tackle one more service project this school year apart from their participation with The George Foundation."

Idealist Blog � Blog Archive � U.S. nonprofits: Monday is the deadline for lots of 990s

Idealist Blog � Blog Archive � U.S. nonprofits: Monday is the deadline for lots of 990s: "Nonprofits with a January to December fiscal year probably need to file a Form 990 with the IRS by Monday, May 16.

Oops…how do I know if it’s time to file?

The deadline for 990s is 5.5 months after the end of the organization’s fiscal year. If December 31 was the end of the year, then May 15 is 5.5 months later."

More charities than expected will face highest level of accounting disclosure - Civil Society - Finance - News - providing news and in-depth coverage of charities, voluntary organisations and not-for-profits

From Civil Society in UK

More charities than expected will face highest level of accounting disclosure - Civil Society - Finance - News - providing news and in-depth coverage of charities, voluntary organisations and not-for-profits: "More charities than initially thought are likely to fall into the most onerous tier of the Accounting Standards Board's proposed framework for charity accounting, according to PricewaterhouseCoopers.

Charities with listed debt or which are holding other organisations’ money in a fiduciary capacity are considered to be publicly accountable and will therefore be required to use the tier 1 framework, which involves significantly more disclosure than the FRSME (Financial Reporting Standard for Mid-Sized Entities)."

Nonprofits priceless - BostonHerald.com

Nonprofits priceless - BostonHerald.com: "After years of extracting “voluntary” Payments In Lieu of Taxes from nonprofit hospitals and universities, the city recently sent what amounts to fourth-quarter 2011 real estate tax bills to 40 nonprofit organizations. Their “assessment” is 25 percent of what it would be for a for-profit business."

Oregon House debates changes to the estate tax | OregonLive.com

Oregon House debates changes to the estate tax | OregonLive.com: "SALEM -- The Oregon House on Tuesday voted to rewrite the state's inheritance tax in an attempt to make it easier for family farms, ranches and forestlands to be passed from one generation to the next."

Greenpeace not a charity: court - national | Stuff.co.nz

Greenpeace not a charity: court - national | Stuff.co.nz: "Greenpeace New Zealand's political activities mean it cannot register as a charity, the High Court has decided.

Greenpeace appealed against a 2010 ruling by the Charities Commission which found its promotion of 'disarmament and peace' was political rather than educational and while it did not directly advocate illegal acts, Greenpeace members had acted illegally."

Tenn: Year after big flood, critics want to know why millions raised for relief remain unspent

Tenn: Year after big flood, critics want to know why millions raised for relief remain unspent: "More than $29 million was donated for flood relief, according to the Tennessean. The Community Foundation of Middle Tennessee has collected much of that, and millions remain unspent.

That prompted legislators to pass a law last week requiring nonprofits to report how they are spending flood donations to the Secretary of State.

State Rep. Gary Moore, D-Joelton, was the lead sponsor on the bill, which excludes religious organizations."

Nonprofits Want to Ban Unattended Donation Containers - WGHP

Nonprofits Want to Ban Unattended Donation Containers - WGHP: "WINSTON-SALEM, N.C. (WGHP)—
Four Winston-Salem nonprofit groups are calling for a law that would require donation containers in Forsyth County to be guarded by attendants, according to the Winston-Salem Journal."