Whether you just started a nonprofit or are working with a few others to get one started, you may have considered incorporating. It requires some paperwork and can be a bit complicated, but for many nonprofits, it is well worth the effort. If you are unsure whether incorporating is best for your … [Read more...]
IRS announces changes to Form 990 processing and public access
With the filing deadline just around the corner, here are some important updates on IRS processing of and access to annual reporting forms. Processing inaccurate Form 990 series returns. The IRS has announced that it will return form 990 or 990 EZ if it is incomplete or if you filed the wrong … [Read more...]
How Do I File for Tax-Exempt Status in Illinois?
Being a non-profit organization in Illinois does not automatically qualify you as tax exempt. Before beginning the process of filing for tax-exempt status, decide if you want to apply for a 501(C ) (3) and federal tax-exempt status. Certain charities, churches, schools and other organizations fall … [Read more...]
Establishing Bylaws for a Nonprofit
One of the first responsibilities of newly appointed directors is to create and document bylaws for the organization. Typically, this is completed at the first official meeting of the board. Bylaws are needed early on since they provide the structure for the nonprofit organization’s general … [Read more...]
Want To Change Your Business Structure? Know These Things First
Starting a nonprofit isn’t something you just do one day—it’s a complex administrative process that allows you to begin operating and fulfilling your mission. Every nonprofit is different, and any changes will have to be made carefully and with counsel to make sure the organization is compliant with … [Read more...]