In 1982, Paul Newman founded Newman’s Own, a for-profit corporation created to sell food products and donate 100% of the profits to charity. What started as a boutique operation has grown into an international business with over $350 million in revenues. Many people consider Paul Newman to be one of the original pioneers in the area of social enterprise, and now others are following his lead by applying business strategies to achieve social purposes. The social enterprise model has become increasingly popular and successful over the past few decades, but what should such an entity look like? During this webcast, our speaker will discuss the three common corporate forms for social enterprise activities and the pros and cons of using each.
Speaker: Robyn Miller, Corporate/Tax Counsel, Pro Bono Partnership of Atlanta
On June 27, 2014, the IRS released a new form – Form 1023EZ — which will simplify and streamline the 501(c)(3) application process for small nonprofits without complex issues. This article covers the benefits of the new form and explains which nonprofits may take advantage of it.
This article sets forth best practices for a 501(c)(3) nonprofit corporation to consider when determining the size and composition of its board of directors.
In this useful resource, Metcalf Davis CPAs have added notes to a standard Form 990 to help nonprofit board members and officers review the form and understand the significance of various provisions.
Organizations with a fiscal year end of December 31 must file a 2012 Form 990, Form 990-EZ or Form 990-N (or an extension) by May 15, 2013. You might notice that the IRS revised the 2012 version of the forms and the accompanying schedules. A summary of those changes can be found here. The summary includes IRS reminders such as:
• Organizations should not include social security numbers on Form 990 because it is publicly available.
• Organizations are no longer required to list addresses for officers, directors or employees.
• If an organization accepts a contribution in the name of one of its programs, its donor acknowledgment should indicate the organization’s name.
For helpful resources from the IRS regarding the Form 990, click here.
Start-up nonprofits should note that they should begin filing annual Form 990s as soon as they are incorporated, even if they have not yet received 501(c)(3) tax-exempt status from the IRS.
Please note that Pro Bono Partnership of Atlanta is unable to assist with Form 990 filings.
The California Management Assistance Partnership created this helpful guide for what you need to know before starting a nonprofit.
You filled out the lengthy application and were elated when you received the 501(c)(3) determination letter in the mail. You may think you’re done with filling out forms and dealing with the IRS, but you’re wrong. There is still a lot to do to make sure your organization is in compliance with all of the laws and regulations that govern it. Don’t miss this informative webcast for a broad overview of:
• What your Board of Directors should do to keep your organization out of trouble.
• How to keep your 501(c)(3) status.
• What filings you must make to avoid serious fines and penalties.
• Steps to take before you hire your first employee.
• How to protect your name, logo and other intellectual property.
When: Thursday, July 19, 2012
10:00 am to 11:00 am
Presenter: Rachel Epps Spears, Executive Director, Pro Bono Partnership of Atlanta
Some counties and cities in Georgia require nonprofits to register for a business license. Find out more about what is required.
Once you have established a 501(c)(3) nonprofit, your paperwork has just begun! Federal, state and some local governments require that you file additional forms; some filings are one-time-only and others are required on a regular basis. This guide will help you determine whether you are up to date on all those forms.
Form 1023 is the form used to apply for recognition of tax-exempt status under Section 501(c)(3) of the Internal Revenue Code.