The President and CEO of GuideStar laughed out loud when he heard about the recent Scripps Howard News Service statistics showing that tens of thousands of charities report that they spend $0 per year to each raise more than $1 million. Every year nonprofits submit Forms 990 under penalties of perjury supposedly disclosing information regarding …
Posts Tagged: non-profits
Should We Executive This Donor Agreement?
Nonprofits and donors alike need to be careful when considering a new contribution. Large donations often come with lots of promises made by both sides. Recently, heirs of a late philanthropist have been trying to stop UCLA from selling a Japanese garden bought with donated funds, which costs the university $140,000 per year to maintain. …
Help for Preventing Fraud
In the past, we’ve warned you about nonprofits’ susceptibility to fraud. The Chronicle of Philanthropy was listening. Tomorrow (Tuesday, June 5) at 9am PST, the nonprofit news source is hosting a live online discussion on steps nonprofits can take to curb potential abuse by their employees. Learn more about the event here. For those who …
Two Minute A’s to Nonprofit Q’s
Are you new to the nonprofit world? Do you have a million questions you are too embarrassed to ask or are you trying to gather some general knowledge about what it takes to run a nonprofit? If you answered yes to these questions, then 2-Minute Answer Guide for Nonprofits, a recent collaboration of the Center …
Can Governance Affect Tax-Exempt Compliance?
Lois Lerner, director of the IRS’ exempt organizations division, says YES. Specifically, an IRS study (albeit a small one) found that if your nonprofit follows these 4 governance practices, it is more likely to also comply with IRS tax rules: 1. Have a written mission statement. 2. Compare your nonprofit to other nonprofits when making …
IRS Provides Guidance on PRIs
If you are a leader of a private foundation that engages in program-related investments (PRIs) and you find yourself constantly confused about the rules, you are not alone. To provide some much-needed relief, the IRS proposes publishing 9 new examples of acceptable PRIs. If your private foundation does not offer PRIs, the new regulations may …