Not For Profit/Exempt Organizations Blog

Tag Archives: governance policy

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

By Alison M. Langlais on Posted in Formation
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

By Alison M. Langlais on Posted in Governance
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
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