Your Secret Nonprofit Fundraising Weapon: IRS Form 990
By Richard J. Locastro, CPA, JD | Partner and Director of Nonprofit Tax In today’s rough-and-tumble political climate, economic pressures are mounting, fewer people are giving to charity1, and nonprofits are feeling the squeeze. Federal budget cuts have reduced government grants and other resources available to nonprofit organizations2. Perhaps more significantly, the Tax Cuts and…
Filing Changes for Nonprofits with Group Exemptions
By Janna Goudarzi, MST | Nonprofit Tax Manager When similar nonprofit organizations can demonstrate a defined relationship, they may qualify for a group exemption by the IRS. Under this scenario, a “central organization” is the parent organization that has one or more subordinates under its general control and is also sometimes referred to as an…
Prepare for the Changes Ahead for Employee Benefit Plan Audits
If your organization offers an employee retirement plan, chances are that it may be subject to annual reporting requirements that includes an audit of the plan’s financial statements. That audit will also be subject to a number of changes in the years ahead for compliance with the newly released Statement on Auditing Standards (SAS), Forming…