Small California non-profits must now file an annual return with the Franchise Tax Board. Failure to file for three consecutive years will result in automatic revocation of state exemption. Until this year, California non-profits with gross receipts that normally did not exceed $25,000 had no filing requirement. As of January 1, 2011, all California nonprofits …
Posts Tagged: non-profit
The Tax Relief Act Does Give Breaks To Non-Profits
The Tax Relief Act (actually, “The Tax Relief, Unemployment Insurance Preauthorization, and Job Creation Act of 2010”), passed by Congress and signed into law by President Barak Obama late in December 2010 included several provisions that may directly or indirectly impact non-profit organizations. A summary of key provisions follows: The most immediate benefit felt by …
Non-Profit Tax Breaks In Danger
“Strapped Cities Hit Nonprofits with Fees” reports The Wall Street Journal in its December 27, 2010 issue. What’s it all about? Apparently, many municipalities are reconsidering the many special tax breaks received by non-profits. Typical is the exemption from property taxes offered in much of the nation. As an official from the National Council on …
President Obama Clarifies Rules for Religious Charities that Receive Federal Money for Social Services
President Barak Obama issued an executive order on November 17 that sheds light on the new policy-making criteria for religious social-service providers who receive federal money in the way of grants and contracts. This order ensures that the money is only used for secular purposes. According to the Chronicle of Philanthropy, “President Obama signed an …
Making The Grantmaker’s Job Easier
Before dolling out the dollars, grantmakers typically go through due diligence process. The challenge comes with the quantity of information. The grantmaker needs enough info to make a good, qualified decision on funding. On the flip side, grantmakers need to be sensitive to the abilities and constraints of today’s non-profits. Grantmakers needs to balance the …
Are There Tax Potholes In Your Charity’s Year-End Vehicle Donation Program?
As this economically challenging year comes to a close, many non-profits are looking for ways to boost their fundraising efforts in order to meet year-end goals. Some tax-exempt organizations are looking to vehicle donations as one way to supplement end-of-year fundraising. The last several years have seen a proliferation of for-profit entities that have created …