News from guidestar.org:
Half a Million Nonprofits Could Lose Their Tax Exemptions.
Having just FINALLY got final closure on a 501(c)3 after much to-ing and fro-ing with an endless loop of approvals from the Feds and the State and then years after I thought we'd had the final-final step complete, a notice that we were going to be dinged a penalty because we hadn't paid our corporate taxes, I know how nitpicky and all the paperwork for tax-exempt non-profits is.
("But the organization was shut down in 2006!")
("By golly, it was. Looks like we forgot to update the status in our database.")
I know how nitpicky and all the paperwork for tax-exempt non-profits is BUT this is important, folks.
If you volunteer with, work for, or give to a smaller nonprofit, make sure the organization's leadership knows about the 990-N. Encourage acquaintances associated with other small nonprofits to do the same. If they want more information, refer them to the IRS article.
: views from the Hill
Thursday, January 08, 2009
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