When an organization provides grants to individuals, it may be required to complete specific schedules on the Form 990. Organizations that provide grants or assistance to interested persons must complete […]

Beginning in the calendar year 2018, and fiscal years ending in 2019, nonprofit organizations will be required to present expenses both by their functional and natural classification, in a manner […]

by Nancy Kirchner, CPA, Manager Federal law allows nonprofit organizations to engage in a certain amount of income-producing activity that is not related to its exempt purpose. However, the IRS […]

Intermediate sanctions legislation was passed in 1996; however, in recent years, the Internal Revenue Service (IRS) has renewed its focus on enforcement of the private inurement rule as it relates […]

By Annmarie Novotney Exempt organizations often have a focus on events or fundraisers from which to generate additional funds to promote their missions. Frequently, games of chance like bingo, pull […]

Tax-exempt organizations are different from non-exempt organizations in many ways; one of which is their annual returns and exemption forms are required to be made available to the public. The […]

Certain transactions can be considered automatic issues for an organization if conducted with an interested person. Transactions providing an economic benefit that exceeds the value of considerations given are known […]