IRS Says Agreement With For-Profit Won’t Jeopardize Nonprofit Group’s Exempt...
On October 3, 2014, the Internal Revenue Service (IRS) issued a Private Letter Ruling (PLR 201440023) that opens the path for charities to monetize their intellectual property through commercial...
View ArticleThe IRS 1023-EZ Application for Tax Exemption – What We’ve Learned So Far
Earlier this year, the IRS did something radical. They admitted that most applications for tax-exempt status receive little or no scrutiny and hadn’t for some time. They also admitted that that the...
View ArticleWhen is a Fiscal Sponsorship a “Mere Conduit”?
Most nonprofits are familiar with the fiscal sponsorship. Under these arrangements, a U.S. charity receives funds from a donor as a tax-deductible contribution on behalf of a non-exempt entity and then...
View ArticleFaster but Tougher – IRS Review Focuses on Private Benefit and Commerciality
The Exempt Organizations division of the IRS is functioning again judging from the considerable improvement we’ve been seeing in the time it takes to respond to applications. But while the substantial...
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Form 990-PF Filers Beware! The Tricky Double Negative of Part VII-B
Paying compensation to directors of tax exempt private foundations can be a delicate matter, especially for relatively modest family foundations. Most foundation managers are aware that such...
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