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How Does A Nonprofit Organization Maintain Tax Exempt Status?

TAX EXEMPT STATUS Annual financial reports must submit to the IRS and the California Franchise Tax Board to maintain a nonprofit organization’s tax exempt status.  The board of directors should review the corporation’s annual IRS and State filings before submitted.  Often, the nonprofit will retain an independent accountant to conduct a review of the organization’s …

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Can A Nonprofit Organization Be Taxed?

CAN A NONPROFIT ORGANIZATION BE TAXED ON UNRELATED BUSINESS INCOME? Nonprofit organization often retain an Attorney to provide an opinion on whether the corporation will be engaging in unrelated business activities that may be taxable. To note, the activities of a nonprofit organization can still be considered charitable even though they generate profits. However, the …

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