Nonprofits can enjoy a range of benefits through their tax exemption. Organizations such as public safety, religious, scientific, and those dedicated to the prevention of cruelty to both humans and animals can enjoy tax exemption. Donations can be tax-free for supporters who provide … [Read more...] about Requirements To Maintain A 501(C)(3) Tax Exempt Status In Chicago, IL?
The US has over 1.3 million nonprofit organizations nationwide and nearly 48,000 of them are in the Chicago metropolitan area. These organizations provide a variety of services that benefit members of a community in different ways. Some of Chicago’s largest nonprofits include: Lions Club … [Read more...] about Why Are Nonprofit Organizations Important In Chicago, IL?
When a nonprofit is doing any kind of fundraising in Chicago (or the state of Illinois), there are certain regulations that it must follow. One of those is registering with the Illinois Attorney General's Charitable Trust and Solicitations Bureau. An organization that does not register can face … [Read more...] about Exemptions To Nonprofit Fundraising Registration In Chicago
A nonprofit organization is just that—one that doesn’t produce a profit by general business standards. Any earned “profits” go back into the organization's coffers to pay for general business needs and to continue the work they intend to do for the betterment of the community. But if a nonprofit … [Read more...] about How Is Unrelated Business Income Determined In Chicago, IL?