In Section 501(c)(3) of the Internal Revenue Code, one of the exempt purposes that is specified is “religious.” Because of constitutional issues, Treasury Regulation doesn’t have a precise
Taxpayers can claim deductions towards their annual tax bill from donations they make to recognized 501(c)(3) organizations. Qualified 501(c)(3) groups typically include nonprofit schools operating solely for literary
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
Section 501(r) regulations provide guidelines on how hospitals retain their tax-exempt status. These requirements were implemented to the Internal Revenue Code by the Patient Protection and Affordable Care
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
