Nonprofit Tax Services
There are unique governance rules related to how nonprofit organizations are organized, conduct their activities, and interact with major donors and others with substantial influence over the organization. As such, nonprofit organizations must make certain filings with the Internal Revenue Service and maintain their tax-exempt status.
Because we have a large nonprofit client base, we have a deep understanding of the tax issues that impact nonprofit organizations, including preparation of the IRS Form 990. We closely follow changes in tax regulations that impact nonprofits and advise our clients of these changes to ensure they are in compliance with IRS regulations.
Many nonprofit organizations must file an IRS Form 990 which contains information related to organizational governance and compliance, as well as disclosure of certain financial information. Because this information is so important, Form 990s must be made available to the public by the organization. In fact, Form 990s are easily found on the internet.
While we believe that the Form 990 is an important governance and compliance tool, we also believe it is an important fundraising tool. It gives the organization a chance to inform potential donors about its programs and financial information, as well as show how the organization operates. We will work closely with you to make sure the Form 990 tells your story.
In order to qualify for nonprofit status, new organizations must file either a Form 1023 or 1024 with the IRS, along with supporting documentation. We can help you complete these filing packages to ensure you have provided all necessary information required to obtain tax-exempt status.
Employers maintaining an employee benefit plan must file Form 5500 to satisfy annual reporting requirements under ERISA and the Internal Revenue Code. Form 5500 reports information on the qualification of the plan, its financial condition, investments, and the operation of the plan. We can prepare this form to ensure you meet filing requirements.
We provide other tax advisory services related to issues unique to nonprofits, including unrelated business income, ministers compensation, and other areas. Consult with us to address questions you may have related to nonprofit tax issues.