Keeping Your Exempt Status

Susan C. Hammond

The IRS provides on-line training for tax-exempt organizations at www.StayExempt.irs.gov so you can brush-up on your knowledge of exempt organization compliance requirements and ensure that your organization maintains its tax-exempt status. The site includes a virtual workshop – web-based version of the popular Exempt Organization workshops – and a number of mini-courses on topics of interest to tax-exempt organizations.

Virtual Workshop topics include a cast of characters representative of the various parties involved with a nonprofit and cover the following topics:

• Tax-Exempt Status-How can you keep your 501(c)(3) exempt?
• Unrelated Business Income-Does your organization generate taxable income?
• Employment Issues-How should you treat your workers for tax purposes?
• Form 990-Would you like to file an error-free return?
• Required Disclosures-To whom do you have to show your records?

Mini-Topics include the topics listed below and are available as downloads in either a printed PDF or playable PDF format:

• Navigating IRS Resources for Tax-Exempt Organizations
• Political Campaigns and Charities: The Ban on Political Campaign Intervention
• The Wonderful World of Foundation Classification (Part I)
• Can I Deduct My Charitable Contributions?
• Applying for Tax-Exempt Status

The above information is from the IRS Newsletter for Exempt Organizations, a periodic newsletter on matters effecting nonprofit organizations. Check it out and let us know what you think!

Susan C. Hammond, principal of scHammond Advisors, consults with nonprofits on board governance, strategic planning, improving financial intelligence, and the formation of advisory boards or councils.  She is an advisor, coach, consultant and author.  She previously served as the CFO for a museum and other nonprofit organizations. Susan recently published the Advisory Board Kit: A Comprehensive Guide to Establishing an Advisory Board.

Join us for our next Networking for Non-Profit Event in August!