Compliance Corner: Ensure Your Corporate Partnerships Are Tax Compliant
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Are Your Corporate Partnerships Tax Compliant?  Relationships between nonprofits and companies can be impactful and mutually beneficial—especially co-branded relationships.  But, before you enter into a relationship with a company, it’s important to know the IRS’s rules around what is taxable and not taxable in such relationships. Simply put, The IRS determined that sponsorships and agreements […]

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Compliance Corner: What is Inurement?

The IRS describes inurement as: “A section 501(c)(3) organization must not be organized or operated for the benefit of private interests, such as the creator or the creator’s family, shareholders of the organization, other designated individuals, or persons controlled directly or indirectly by such private interests. No part of the net earnings of a section […]

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Compliance Corner: Vehicle Donations to Nonprofits

There are many ways to donate to nonprofit organizations. Vehicle donations are just one. The IRS has certain rules for nonprofits and donors about how Vehicle Donations are handled, so if you want to make sure your vehicle donations are tax-deductible, it’s important to make sure you follow those rules! For Donors: Make sure the […]

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Compliance Corner: Nonprofits, Independent Contractors and 1099’s – When do you need to send them?

Tax exempt nonprofits don’t pay taxes, but they still have plenty of filing and paperwork to do! One important piece of paperwork is your 1099’s! Even nonprofit organizations need to provide 1099s to their Independent Contractors. What’s an independent contractor? Independent Contractors are those who have done work for you, but they are not on […]

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