Being part of a nonprofit organization provides many rewards, both individually and communally. However, too often a nonprofit organization’s life span is cut short because of finances, failure to plan, proper oversight and internal controls. Often this leads to questions of “why did this happen?” or “how did we get here?”
A nonprofit organizations financial health as well as its adherence to legal, moral and ethical guidelines depends on precise execution of the key components of an annual operating cycle. This website will provide resources and information about local training and online resources available to your staff and board.
Internal Revenue Service
The Internal Revenue Service (IRS) requires nonprofit organizations that meet certain criteria to file an annual return and operate properly. The IRS website “Stay Exempt” on the left menu bar has a number of useful training “videos” to answer your questions.
To read more about the new IRS Form 990 click here. Small nonprofits whose annual gross receipts are normally $25,000 or less must file an annual electronic e-card by May 15.
IRS Introduces Video Series on Form 990
As part of its education outreach about the revised Form 990, the IRS has developed "The New Form 990: Getting Started," a case study with video program. The IRS directs viewers to first read the case study of a hypothetical exempt organization before viewing a series of videos. The seven videos - each five to 10 minutes long - cover the following areas of the form: revenue and expenses, balance sheet, supplemental financial statements and Schedule D, program services, and compensation.
Click HERE to check it out
As part of its education outreach about the revised Form 990, the IRS has developed "The New Form 990: Getting Started," a case study with video program. The IRS directs viewers to first read the case study of a hypothetical exempt organization before viewing a series of videos. The seven videos - each five to 10 minutes long - cover the following areas of the form: revenue and expenses, balance sheet, supplemental financial statements and Schedule D, program services, and compensation.
Click HERE to check it out
