Recent Articles

501(c)3 organization

A type of charitable organization that is allowed to receive tax deductible gifts. The best examples are the large national charities such as the American Red Cross, American Heart Association or the Salvation Army. Every organization must have a determination letter from the IRS authorizing the status as a 501(c)3 charitable organization.

Form 990 – Return of Organization Exempt from Income Tax

07/29/2013

Section 6033 of the Internal Revenue Code requires tax exempt organizations to file an annual report.  Form 990 fulfills this requirement.  Many citizens utilize the information from Form 990 to evaluate the non-profit organization they donate to [...]

What is an Audit?

03/07/2013

An audit is defined as a methodical examination.  Audits are grouped into two principal sets – financial and organizational compliance (usually related to licensure).  For the small business entrepreneur, it is almost unheard of for them to have [...]

The 501(c)3 Organization

12/12/2012

I have had many clients come to me to ask how they could start a non-profit organization.  The main purpose of starting a nonprofit is to gain the contribution advantage the Internal Revenue Service (IRS) provides.  Why do you need the IRS to [...]