In light of recent U.S. government actions, nonprofit organizations are facing significant challenges due to a temporary halt on federal financial assistance, including grants and loans.
When it comes to federal tax filings, exempt organizations have various deadlines and requirements based on their classification and financial activities.
The definition of an independent voting member of the Board of Directors for Form 990 purposes includes four criteria that must be met for independence:
If your organization does not rely fully on earned income or government grants or contracts, it most likely is involved in raising funds from individuals, foundations, and/or for-profit corporation
Both federal and state government agencies impose filing requirements on nonprofits. It's important to be aware of all filing requirements and the associated due dates.
