By James Provenza Giving USA has issued its annual report for giving, and the news for 2018 was somewhat troubling. Overall giving was down 1.7% from 2017. We suspect there are several reasons for … [Read more...]
What is “Charitable Trust Doctrine” in Chicago, IL?
When you give to a nonprofit for the purpose of continuing its good work, especially as part of your estate plan, how do you know it will be used as you intended? business people handshake with laptop computer and clipboard on desk after finishing up a business meeting contract in office … [Read more...]
Does A Nonprofit Need Bylaws In Chicago, IL?
Starting a nonprofit requires a wide range of legal and managerial tasks before it can open its doors for business. From the inception of an idea through opening day, a nonprofit must: Lawyer working with documents. Justice and law, attorney, concept. Man signing contract papers Choose an … [Read more...]
Getting Help Filing Form 990 For Your Chicago Nonprofit
Form 990 is the IRS form that nonprofits are required to fill out every year in order to file their tax returns. Formally known as IRS Form 990-T, the state of Illinois also has form IL-99-T for filing state income tax returns. Even if a Chicago nonprofit organization is exempt from taxes, it still … [Read more...]
The Illinois Charitable Trust Act Explained
Illinois’ Charitable Trust Act (Section 480.20) lays out the framework for the operations of charities in the state. The Charitable Trusts Bureau of the Attorney General's Chicago Office maintains the register of charitable trusts that have been registered with the state. Under the Illinois … [Read more...]