Posts Tagged 501c3

INSIGHT: Decoding your exemption letter: 501(c)(3) exemption and public charity status

I frequently get questions about decoding a non-profit’s tax-exempt status because the determination letter they’ve received from the IRS has a section at the top that lists “Public Charity Status” as 509(a)…, 170(b)…, or similar, and not the anticipated 501(c)3. A closer look at the first line of the exemption

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NEWS: Decreased 501(c)3 Application Filing Fees

In continuing its efforts to better serve the needs of small non-profits (previously discussed here), the IRS has decreased application filing fees for the smallest organizations.  In the past, many small non-profits that might otherwise have qualified for an exemption under 501(c)3 chose not to apply for the exemption, determining

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NEWS: Changes to Form 990-N filing for small exempt organizations

The IRS has announced that, effective February 29, 2016, exempt organizations that required to file Form 990-N will do so through the IRS website – IRS.gov . This form can only be filed online – mailing a paper alternative is not an option.  Until now, Form-990 was filed

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Accelerated IRS Review of Tax Exempt Applications

IRS efforts to accelerate review of tax exempt applications appear to be paying off. One recent report suggests the backlog, which once exceeded 60,000 pending applications, is now current. At one time, it was not unusual for an organization to wait nearly a year before receiving any inquiries

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NEWS: Shusterman Recognized Alongside Volunteer Attorneys

Zak Shusterman, along with colleagues committed to providing pro bono legal services to their communities, was recognized this morning at an event honoring attorneys who have volunteered with the Pro Bono Partnership.  The Pro Bono Partnership provides free business and transactional legal services to nonprofit organizations serving the

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ALERT: FORM 990 ONLINE FILING SECURITY BREACH

Any tax exempt organizations (e.g., 501(c)(3) nonprofits) that file their annual form 990, 990-N, or 990-EZ online should pay special attention to this security alert issued by the Urban Institute’s National Center for Charitable Statistics (NCCS).  According to the alert: “an unauthorized party or parties have gained access to the Form 990

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INSIGHT: Non-Profits Operating in Foreign Countries

Many non-profits are formed for charitable purposes in other countries – disaster relief, preserving native eco-systems, supporting refugees, etc. There is nothing questionable about wanting to make the world a better place, even when that part of the world is far away. However, because there are so many

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NEWS: IRS issues revised procedures for tax exempt applications

Earlier this month, the IRS issued revised procedures for several important matters affecting exempt organizations (including those commonly referred to nonprofits).   In particular, some of these revisions address the new streamlined application for tax exempt status.  Qualifying organizations may be able to save themselves considerable time and expenses

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LECTURE: Starting and Operating a Non-Profit in New York

I led a workshop this evening on the requirements of starting and operating a non-profit under New York state law. Although I’ve regularly presented on nonprofit issues, this was the first presentation since New York’s new non-profit law provisions took effect earlier this month. The presentation covered

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LECTURE: Starting and Operating a New York State NonProfit

On February 20th, I’ll be presenting a workshop covering the ins and outs of launching and running a nonprofit organization in New York.  New York state recently passed a slew of very important changes that will be affecting both existing nonprofits that should be taking steps to

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LECTURE : Legal Structures of Social Enterprises at the New School

I was delighted to be invited back to the New School  again this year to give a guest lecture on Thursday, September 27.  The topic was the legal structures that are available to social enterprises. Social enterprises, operated by social entrepreneurs, are business entities that are formed

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CLIENT NEWS : Congratulations to Dance/NYC

A hearty congratulations to the staff and supporters of client Dance/NYC.  Dance/NYC recently completed the complex process of establishing itself as an independent entity, serving as the support structure for all things dance-related in the greater New York City metropolitan area.  Dance/NYC was initially a project  Dance/USA, the

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CLIENT NEWS : Award for the Community Food Pantry of Sleepy Hollow/Tarrytown

A hearty congratulations to client Community Food Pantry of Sleepy Hollow/Tarrytown. The Pantry will be honored with a prestigious award tomorrow morning at a ceremony hosted by Abigail Kirsch at Tappan Hill. The Food Bank for Westchester will be presenting the Michal Winter Memorial Award for Agency Excellence to the

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INSIGHT : Annual filing deadline approaches for many tax exempt organizations

For many tax exempt organizations, May 15th is the deadline for making your annual filing to the IRS in order to maintain your tax exempt status. Read on to learn if this is deadline for your organization and which version of  Form 990 you should use. Annual

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