Passing the Public Support Test

Passing the Public Support Test

Unless 501(c)(3) organizations prove they’re publicly supported, the IRS assumes they’re private foundations. The distinction is important, because publicly supported charities enjoy higher tax-deductible donation limits and generally are exempt from excise taxes and...
Why You Should Connect with Giving Circles

Why You Should Connect with Giving Circles

Giving circles — generally small groups of people who make a charitable impact by pooling their money — are growing in popularity. If your nonprofit isn’t already actively appealing to them, you need to get up to speed because they’re capable of providing substantial...
Tips to Help Prevent Accounting and Tax Errors

Tips to Help Prevent Accounting and Tax Errors

Although failing to file a Form 990 with the IRS when required to do so is probably a more serious mistake, filing it with data errors isn’t recommended. Similarly, your nonprofit should strive to be as accurate as possible when preparing accounting and other tax...
A Refresher on Nonprofit Endowment Management

A Refresher on Nonprofit Endowment Management

If your nonprofit has an endowment, you probably know it’s a major responsibility. Endowment investments generally need to be managed by a financial expert, and your organization must adhere to certain regulations, particularly when it comes to spending. As a...