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? …
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 …
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 …
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 …
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 …
More COVID-19 relief for nonprofits is on the way! Both Congress and the State of California have set aside more relief funds for nonprofits. President Biden signed into law a revised version of the American Rescue Plan Act on March 11, 2021. Also, the California legislature authorized over $2 billion in additional financial relief for …
