Introduction In the prior post in this series, we examined the 33⅓% public support test and the 2% limitation rule governing donor-supported public charities under Section 170(b)(1)(A)(vi) of the Internal Revenue Code (“IRC”). However, many nonprofits are supported by earned revenue including program fees, and memberships. This article turns to a distinct framework, the public …
In the wake of the COVID-19 outbreak, federal and state governments have provided the country with several waves of relief for employers, including nonprofits, to help ease the burdens caused by the pandemic. New programs will affect nonprofit employers by imposing upon them new obligations towards their employees and by providing them with benefits to …
Nonprofit organizations have a positive effect on and are a significant part of California’s economy by generating significant revenues and providing jobs.
It’s official. IRS targeting of nonprofit self-declarers will begin this year. Most organizations that qualify for federal tax-exemption other than non-church 501(c)(3) charities do not need to apply for tax-exemption. Whereas may do, they can simply self-declare that they are tax-exempt. When such nonprofit organizations complete their Forms 990 they need only identify their 501(c) …
In recent years we’ve converted a university and other 501(c)(3)s into for-profit corporations. But is the trend now reversing? Last year, the Law Firm for Non-Profits helped a for-profit private school become a nonprofit. And at the beginning of 2015, Herzing University, one of Wisconsin’s oldest and largest for-profit career colleges, was converted to 501(c)(3) …
Do you have questions about the sales and use taxes that affect nonprofits organizations? Here is your chance to ask your questions directly to the California Board of Equalization. On February 19, 2015 at 10AM, California Board of Equalization member George Runner and the California Association of Nonprofits are hosting a live telephone townhall titled …
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