Nonprofits come in a wide range of types—educational, religious, animal rescue/welfare, housing development, social services agencies, among others. Each organization has a specific group they serve that isn’t being helped elsewhere. What they all have in common is the desire to help others for the … [Read more...]
BEST PRACTICES FOR ELECTRONIC BOARD MEETINGS
Many nonprofit organizations have board meetings on the horizon. With the coronavirus outbreak, you might be wondering how to hold these board meetings. Luckily, Illinois allows for electronic board meetings if your bylaws do not expressly forbid them. If the bylaws specifically forbid electronic … [Read more...]
Nonprofits Have Until July 15 to File Form 990
The Internal Revenue Service announced yesterday that not for profit organizations that have form 990 deadlines between April 15 and July 14 will have until July 15 to file, due to the coronavirus pandemic. Here are the details. The extension is available automatically. You do not need to call … [Read more...]
Important Updates and Reminders for Illinois Nonprofits
Here is important information on the Payment Protection Act and filing deadlines Updates on the Payment Protection Program for Nonprofits The application form for nonprofits who wish to apply for the Payment Protection Program forgiveable loan is now available online. You can download it at … [Read more...]
IMPORTANT: Clarification on Tax Return Due Dates
The IRS has clarified which returns can be filed July 15. Only corporate and individual returns due April 15 can be filed on July 15. If your return is due May 15 or June 15, you need to file for an extension of time. Illinois corporate and individual income tax returns due April 15 can be … [Read more...]