Rights, Roles, and Responsibilities of Nonprofit Board Members
An opportunity has presented itself to serve on the Board of Directors for a local nonprofit organization. Should you accept the position? What would your rights and role be? What would you be responsible for? These are all valid questions … Read more…
Tax Brief: Form 990, Schedule B: Schedule of Contributors
The purpose of Schedule B Schedule of Contributors in the Form 990 is to report information on contributions the organization recorded during the tax year. The IRS utilizes Schedule B information to match donors’ tax deductions to the organizations they … Read more…
Tax Brief: Qualified Sponsorship vs. Advertising
A nonprofit can raise money through both qualified sponsorship payments and advertising; however, it is imperative the appropriate distinction between the two is made. Income generated from the sale of advertisement space is considered an unrelated business activity, therefore subject … Read more…
Tax Brief: Tax Impacts from Debt Financed Rental Property
Tax-exempt organizations engaging in business that is unrelated to its primary exempt purpose may generate income that subject to the unrelated business income tax (UBIT). One common type of income that may be subject to UBIT is income derived from … Read more…
