Not For Profit/Exempt Organizations Blog

Tag Archives: governance policy

Getting Back to Basics: What Public Charities Should Know About Tax Exemption

It is essential that all public charities understand the basic rules surrounding their exemption. Indeed, achieving tax-exempt status is only half the battle - once an organization has established that it is tax-exempt, it must set up the proper checks to ensure that it meets ongoing compliance obligations. Plainly, certain activities can jeopardize an organization's tax-exempt status or subject it to penalties. Because the IRS revised its Compliance Guide for Public Charities and we are in such a highly regulatory environment, we thought it would be helpful to discuss some of the basic rules surrounding tax exemption. … Continue Reading

Good Governance: The Bedrock of a Successful Not-for-Profit Organization

The goal of the revision of the IRS Form 990 is to increase transparency, encourage compliance, and emphasize the importance of ethics within a not-for-profit organization. Given that so much emphasis has now been placed on "good" governance, it is increasingly important for not-for-profit boards to draft, adopt, and implement relevant governance policies - meant to be "living" documents reflecting the organization itself, and changing as an organization grows and develops. … Continue Reading
LexBlog