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Best Practices for Acknowledging Charitable Contributions

Charitable contributions are a main source of funding for most non-profits. In order for your donors to receive a tax deduction for making charitable contributions, they must be properly and appropriately acknowledged by the nonprofit. You may be surprised to learn that there are several important things your organization must do to ensure that donors …

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Nonprofits Not Exempt from Annual Filing Requirements: Here’s What You Need to Know

August 10, 2021 Posted by Casey Summar in Form 990, IRS, Taxes

As a nonprofit dedicated to effecting positive change, the majority of your efforts are focused on making a difference. Whether that’s inspiring volunteers, raising capital, sharing information, or boots-on-the-ground action, we understand that spending time on administrative activities is not why you joined the nonprofit world. However, to remain in good standing as a nonprofit …

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The Law Firm for Non-Profits Celebrates 25th Anniversary

August 3, 2021 Posted by Casey Summar in News, Nonprofits

It started as a one-person operation intent on “helping good people do good things.” Today, a seven-person team helps guide the increasingly important work of The Law Firm for Non-Profits (LFNP), which this year proudly celebrates its 25th year anniversary. Established as a solo practice by Arthur Rieman in Los Angeles in August 1996, LFNP …

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IRS Now Mandates Electronic Filing for All Nonprofits

July 27, 2021 Posted by Casey Summar in Form 990, 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?

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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