Unrelated Business Income Tax For New Non Profits

Unrelated Business Income Tax (UBIT) is a critical issue to understand when starting a non profit organization. According to the IRS website, even though an organization is recognized as tax exempt, it still may be liable for tax on its unrelated business income. For...

Should I register my charity with the IRS?

There are many benefits to being registered under Section 501(c)(3) of the Internal Revenue Code. Chief among them is the ability to increase financial support from a charitable donor base. Individuals and businesses are much more likely to donate to a given charity...

Due Dates for Form 990

Most nonprofit organizations are exempt from paying tax to the IRS. However, they are required to file form 990. The due date for form 990 is due on the 15th day of the fifth month after an organization’s tax year end. For example, if an organization has a calendar...

Understanding the Statement of Revenue on Form 990

Understanding the Statement of Revenue on Form 990: Contributions, Gifts, and Grants   Navigating the Statement of Revenue on a 990 is tricky business. Here is a brief line by line breakdown of the various types of revenue for a non profit organization as explained in...