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IRS Now Mandates Electronic Filing for All Nonprofits

July 27, 2021 Posted by Casey Summar in IRS, Non-profits, Taxes

On July 15, 2021, the IRS released an Exempt Organization Mandate that requires all Forms 990-EZ be filed electronically. The mandate is effective for filings for tax years that end July 31, 2021 (i.e., for tax years beginning August 1, 2020). Not sure what this means for your organization? Read on. What is Form 990-EZ? …

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Is Fiscal Sponsorship Right for You?

July 12, 2021 Posted by Casey Summar in Compensation, IRS

Many individuals looking to develop a charitable program assume that they need to create a nonprofit organization to solicit tax-deductible contributions. While establishing a nonprofit is often the best course of action, for many there is another way – fiscal sponsorship. Fiscal sponsorship is a partnership with a 501(c)3 tax-exempt organization – the fiscal sponsor …

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At What Stage of the Nonprofit Lifecycle is Your Organization?

Understanding the nonprofit lifecycle is the key to identifying the transitional points that can be opportunities to expand an organization’s capacity to serve the community they set out to help.    Simply put, capacity is a nonprofit organization’s potential to effect meaningful change. Building capacity is necessary to accomplish an organization’s mission in a way …

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The Pros and Cons of Operating a 501(c)(3)

Most new charitable organizations are looking to become tax-exempt under Internal Revenue Code section 501(c)(3). However, before making the decision to incorporate as a nonprofit corporation and apply for tax-exemption, it is important to know the pros and cons. Operating a nonprofit corporation with 501(c)(3) status comes with significant advantages, namely income tax-exemptions for the …

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Educational 501(c)(3): Does Your Organization Meet the Criteria?

May 10, 2021 Posted by Casey Summar in Non-profits, Nonprofits

What is an educational 501(c)(3)? To qualify as “educational,” an organization does not necessarily have to provide what many may think of as traditional, classroom-style instruction. A nonprofit organization may qualify as an educational 501(c)(3) so long as the intent is to provide individuals or the public with fact-based instruction on ideas or materials that …

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Arts Relief Grants Available April 8th

April 7, 2021 Posted by Kristen Anderson in COVID-19, Non-profits, Nonprofits, The Arts

Arts relief grants promised by the Consolidated Appropriations Act signed into law last December will be available on April 8th! The Small Business Administration announced that arts organizations will soon be able to apply for a Shuttered Venue Operators Grant (SVOG). The SVOG program will provide grants to theaters, museums and other performing arts producers …

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