It’s typical for schools and Parent-Teacher Association (PTA)/Parent-Teacher Organization (PTO) to be recognized as a 501(c)(3) organization and have tax-exempt status. However, there is a common misunderstanding when
On Part IV, Line 10 of IRS Form 990, you must answer if your exempt organization held any assets in temporarily restricted endowments, permanent endowments, or quasi-endowments –
One way health systems can counter against depleting resources and growing demand is by entering into a joint venture with physicians or other businesses. While this method can
With the most recent changes in tax-exempt requirements and healthcare reform, nonprofit hospitals are facing several challenges with exemption classification and retention. Experts say that nonprofit hospitals receive
With everything you had going on with your nonprofit during the back-to-back holiday seasons – not to mention other personal responsibilities – you might not have kept up
Federal tax law typically does not mandate particular management structures, operational policies, or administrative practices. However, you are still required to report information regarding your organization’s governing body
Part III of IRS Form 990 and 990-EZ requires you to report your exempt organization’s program service accomplishments. A program service is typically the major ongoing objective or
Within IRS Form 990, there is Part XII for financial statements and reporting. In this section, exempt organizations need to indicate whether their financial statements were compiled, reviewed, or
A new year means new beginnings – and what better way to embrace the “new” than with a complete reboot of your nonprofit or charity? Updating your organization’s
Each time your organization answers “Yes” to a question on Form 990, Part IV, you’re required to complete the applicable schedule and provide explanations that are relevant to
