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 role of nonprofits has always been to generate social change that helps steer us to a better world. While many nonprofits start with compelling goals and a can-do attitude, it’s usually not enough to keep the organization alive. Sure, it takes money, people, and resources to begin a … [Read more...] about Top Reasons Nonprofits Fail In Chicago, IL
The COVID-19 pandemic of 2020 has had a direct impact on nearly everything and everyone. As businesses suspended operations, millions found themselves unemployed with no idea what to do next. Small businesses, including nonprofits, have been impacted the hardest by the mandated closures. … [Read more...] about Can Non-Profits Benefit From The Paycheck Protection Program Of 2020?
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?