January 30, 2024
Asking people to donate their hard-earned money is never easy, which is why it’s important to come up with creative fundraising concepts that engage your audience and make donating feel like an experience for them, rather than a burden.
September 14, 2023
Managing your group exemption is the ultimate group project. Making sure everyone files IRS Form 990 is a major part.
September 20, 2022
What Greek Organizations need to do to maintain their tax-exempt status with the IRS and stay in good standing with state registration requirements.
August 19, 2022
Children’s books are a staple in early childhood development. Hop on Pop, Green Eggs and Ham, The Cat in the Hat, IRS Tax Code. Okay, okay, maybe my mom didn’t read me the IRS tax code as a bedtime story, but I learned a lot about tax-exempt entities while I was growing up. Later it would help me in my fraternity.
Does your nonprofit have multiple sub-chapters or is already part of a larger nonprofit? If so, keep reading to learn about the group exemption.
In the world of nonprofits, knowing how tax exemptions work can make or break your organization. No matter if you’re an experienced leader or just starting out, this blog will help you understand the impact of tax exemption, how to apply for it, and how to maintain your nonprofit’s compliance.
It’s no secret that the BSA has been under a lot of heat lately. At RENOSI we think opening an affiliate nonprofit organization could be the key.
Okay, so you can’t let the idea go. It’s time to get going and jump off the cliff! It can be confusing to know what you need to file, when to file it, and even where documents need to be filed to get your nonprofit off the ground. RENOSI helps nonprofit organizations get going every day.
Do you have an idea for new nonprofit business but you’re not sure if it’s a “good” idea! RENOSI can help! My son, Jack, and I are blessed (and sometimes cursed!) with a flood of ideas.
State governments are throwing their weight around, concerned that the IRS’ streamlined tax exemption application process and limited auditing of nonprofits may not provide sufficient oversight of the nonprofit groups.
According to Nonprofit Source, approximately 63 million Americans, or 25% of the adult population volunteer. Most want to make a difference for their community in some way. Few volunteered, I’m guessing, to fill-out IRS tax forms or state charity registration documents.
For a variety of reasons, nonprofit organizations occasionally change their fiscal year. The timing of the change, and providing notice to the IRS of the change, is important. In this post, we will walk you through what a fiscal year is and how you can go about changing your fiscal year.
I don’t get excited about a lot of things these days, but when I learned about the thrift stores that are operated by the Community Spouses' Clubs associated with U.S. military bases worldwide, I was impressed.
New clients often ask whether they need to purchase nonprofit insurance. Is nonprofit insurance a requirement to incorporate or obtain IRS tax-exempt status? How often are nonprofit organizations and their boards sued?
There’s good news for nonprofits seeking donations during COVID-19. A majority of donors surveyed stated that they plan to maintain or increase their charitable giving.
While most local Boy Scout Troops follow the BSA’s advice, some Troops have decided to become nonprofit corporations and obtain IRS 501(c)(3) tax exempt status. By incorporating the troop, a legal shield of firewall is built around the Troop leaders, providing protection for the leaders and their personal assets.
With COVID-19, the IRS informed the public about this year’s “Dirty Dozen.” This is a list of the exploitative scams associated with coronavirus tax relief, including Economic Impact Payments. Several of these scams are targeted at tax preparation and refunds.
What does it mean for a school to be tax-exempt? We thought it is a good time to look at the rules relating to IRS 501(c)(3) tax-exempt status for higher education.
On June 12, 2020, the Internal Revenue Service (IRS) issued proposed new rules for its group exemption program. The group exemption program allows large organizations (known as “central organizations” by the IRS) to apply for and obtain an IRS group exemption letter.
In our RENOSI virtual office update, we do our best to adapt with the times through thick and thin. It’s our hope that you might find some insightful bits throughout.
Despite the issues with COVID-19, right now may be the best time to start your nonprofit! Get a discount on new start-ups.
Brand licensing is an excellent way for national nonprofit organizations to raise visibility and revenue. But, groups should ensure policies with chapters.
COVID-19 has presented nonprofit managers new challenges when it comes to cancelling events and dealing with vendors. Our tips for negotiating contracts may help you to minimize losses.
COVID-19 means revisiting common contract clauses and updating them to ensure cancellations due to infectious disease are covered in the force majeure or impossibility clauses.
Have recent events made you switch unexpectedly to a virtual office environment? We share some insights from our own experiences.
Did your nonprofit have a fundraiser cancelled due to a mandatory closure? Virtual fundraising may be the solution.
Nonprofits are being hit with the need to cancel events, return donations, and otherwise deal with the impact of closures.
Volunteer management is an essential activity for many nonprofits. Volunteers serve an important role, so learn 3 tips to ensure success with them.
Incentive pay for fundraisers has been a debate in the nonprofit sector for many years. However, the AFP does not allow it in its Code of Ethics.
When it comes to capital campaign anxieties, not making campaign goals is at the top of the list. If you’re one of the many who are worrying about your campaign falling short-- you’re not alone!
You've decided to start raising money for the students at your school. Now, you need booster club fundraiser ideas that work. Here's a list.
In the nonprofit sector, the turnover of professional fundraisers is high. But, your nonprofit can hire a great one with these tips.
Before you make your best ASK there are three very important questions you need ASK yourself. Think of this exercise as goal setting which many of us do at work and at home. If you never set a goal you never achieve that goal. If you never ASK you never get what you want.
Growing a small nonprofit is challenging yet rewarding work. After all, the bigger your nonprofit gets, the more lives you can change. And making a difference is the whole reason your nonprofit exists.
Recruiting nonprofit board members can be easy for your charity. There are five things you should consider to help you get the right people on board.
When you're looking at starting a nonprofit, you have to consider several important issues. And, those include compliance with the IRS and your state.
The wealth of women will reach $72 trillion next year. Because of the importance of women in philanthropy, nonprofits have to appeal to new ideas.
The Business Roundtable issued a statement ending exclusive focus on shareholders. Soon they can be changing the world for the better.
Creating a federated group can help your organization grow. Learn about five tips to help you start down that path for your nonprofit.
Now that the presidential campaign is over, I decided to take a look at the claims against both the Trump and Clinton Foundations. I wanted to see if all the chatter was politics as usual, or if the candidates were breaking IRS rules. Here’s what I found.
It’s been ten years since the Pension Protection Act of 2006 was passed requiring all nonprofit organizations, regardless of size, to annually file an IRS Form 990-series tax return or have their tax-exempt status automatically revoked by the IRS. I took a look back at what has happened since.
The depiction of Greek life as a never-ending series of toga parties, excessive drinking and sex, was clearly over-the-top in National Lampoon’s 1978 comedy Animal House. Far more common than the headline-making incidents of beer pong gone awry is the reality that many local sororities and fraternities are running without a toga, or any cover at all.
A successful attorney and founder of her own nonprofit, Parent Booster USA, Sandy walks us through nonprofit start up success stories, advice to maintain exemption and good standing with the IRS and handling underdeveloped business plans.
Let me say upfront that this blog is self-serving. My career revolves around helping people start nonprofits. It’s also grounded in solid economic research. So, please, start a nonprofit.
President Trump stated in his address at the National Prayer Breakfast in January 2017 that he intended to “get rid of and totally destroy the Johnson Amendment and allow our representatives of faith to speak freely and without fear of retribution.” Here’s five (5) fast facts about the Johnson Amendment and what 501(c)(3) tax-exempt organizations, including tax-exempt churches, may and may not do under current law.
Many nonprofit groups are suffering from a new disease I term RMRD (Record & Memory Retention Disorder). If not caught and stopped in its tracks, RMRD can be fatal, resulting in total loss of an organization’s IRS tax-exempt status. What’s causing the rise of this disease and how can we stop it?
Filing requirements of small nonprofit organizations, including fraternity and sorority chapters, changed significantly with the passage of the Pension Protection Act of 2006.
