Your organization probably spends vast amounts of time and money producing direct mail campaigns to raise funds. Those costs are justified if you get the response you're seeking.
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Games of chance like bingo and raffles are often synonymous with tax-exempt organizations. However, the income from such "gaming" activities operated by charities is not automatically tax-free. The IRS has provided more insight into the key rules in this area in its Publication 3079, Tax-Exempt Organizations and Gaming.
It doesn't happen often, but sometimes not-for-profit organizations merge or are incorporated into one another. For example, your not-for-profit may be contemplating an acquisition of a smaller organization or perhaps you may be merged into a larger organization. In either event, this represents a significant change for managers both personally and professionally.
Does your organization have "A Donor Bill of Rights?" This set of standards was created by the American Association of Fund-Raising Counsel (AAFRC), along with other philanthropic associations.* Many not-for-profit groups endorse these standards and state in their literature that they will adhere to them.
Accurate, relevant and timely financial information is key to making good decisions for not-for-profit executives and board members. But do all of your board members really understand the numbers they receive and what they mean to your organization?
In order to qualify as a tax-exempt entity, a not-for-profit organization must comply with certain federal income tax laws. To prove compliance, you must maintain records. There is no required recordkeeping system. Your organization can choose any system that suits its activities and clearly shows your income and expenses.
Most tax-exempt organizations must file Form 990 with the IRS. This form, titled Return of Organization Exempt from Income Tax, has significant implications for not-for-profit organizations. The compensation of officers, directors, trustees, key employees and others in tax-exempt organizations has always been scrutinized by the IRS.