Expanded Incentives for Charitable Giving

By |2020-04-16T23:31:06+00:00April 16th, 2020|COVID-19, Public Charity|

You may have heard a lot about the CARES Act and its direct financial assistance for small businesses, nonprofits and employees. The CARES Act includes a number of other important provisions, including ones that encourage charitable giving from both individuals and corporations. We are already seeing individuals and businesses contribute to the COVID-19 response in important ways – these incentives can help encourage more of that. Above-the-line charitable contribution deduction. Under this new charitable giving incentive, individuals can deduct up to $300 of donations, even if they don’t itemize on their tax return. This means that a lot more [...]

Comments Off on Expanded Incentives for Charitable Giving

Form 990 Deadline is Approaching!

By |2015-05-08T15:58:43+00:00May 8th, 2015|501(c)(3), Compliance, Nonprofit, Private Foundation, Public Charity|

It's that time of year again! Don’t forget to file your nonprofit organization’s “annual information return,” or Form 990. All tax-exempt organizations (including 501(c)(3)s, 501(c)(4)s, and 501(c)(6)s) must file a version of the Form 990 with the IRS.  For many small organizations, it is a simple 5-10 minute process to file the "Form 990-N." You should be aware that if you do not file a 990 in 2015 and also did not file one in 2014 and 2013, your organization will lose its tax-exempt status and you will have to reapply with another application and filing fee. Filing FAQ's [...]

Comments Off on Form 990 Deadline is Approaching!

501(c)(3) or 509(a)? Your public charity is both.

By |2015-03-03T15:38:52+00:00March 3rd, 2015|501(c)(3), Definition, Events, Nonprofit, Private Foundation, Public Charity|

Today is the Big Share! Don’t miss the opportunity to support 70 local nonprofits dedicated to building a fair, just community and protecting the environment through this Community Shares of Wisconsin online giving event: http://www.thebigshare.org. Thanks to Community Shares and their Big Share partner, Madison Community Foundation, for hosting this event to support the important work of these organizations. And there will be another big share (of information) this week at the annual Wisconsin Nonprofit Association Conference: http://wisconsinnonprofits.org/Conference2015 , which is taking place in Madison on Thursday. With today’s focus on charitable donations to 501(c)(3) organizations, I want to [...]

Comments Off on 501(c)(3) or 509(a)? Your public charity is both.