Failed to File a 990? IRS Revocation Relief Possible

From NPML's Dan Sise --The Internal Revenue Service announced July 27 that small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008, and 2009 can preserve their exempt status by filing returns by October 15, 2010. Two types of relief are available for small exempt organizations -a filing extension for the smallest organizations required to file Form 990-N, Electronic Notice (e-Postcard), and a voluntary compliance program (VCP) for small organizations eligible to file Form 990-EZ, Short Form Return of Organization Exempt From Income Tax. Find more information about the filing relief program on IRS.gov.
Also on this topic, Guidestar has updated a report --Automatic Revocation of Nonprofits' Tax-Exempt Status: What Nonprofits, Grantmakers, and Donors Need to Know available free at http://www.guidestar.org/ or in a print copy here at the GFC.
Dan will present a program on "The 990, Its Versions and Your Nonprofit;s Tax Exempt Status" here Nov. 10th.

Can NPO Law Be Made "Easy"?

To help you select your nonprofit/fundraising reading this summer, we've asked VLAA summer interns to highlight and comment on some of the books available in our G&FC collection (and elsewhere)

Nonprofit Law Made Easy by Bruce H. Hopkins

This book guides the reader through the legal obligations a nonprofit organization must fulfill. Hopkins stresses the importance of understanding what a nonprofit is and of filing government forms properly. He uses simple language to explain the law and each chapter is broken down into the most prevalent legal issues nonprofits face. Chapters contain multiple short summaries of the legal terms and requirements associated with each of these issues. The volume helps the reader become aware of the legal matters he/she must think about before forming a nonprofit. It is recommended as a first step rather than a guide for those looking for a brief and simple introduction to nonprofit law. Nonprofit Law Made Easy will open the reader's eyes to the legal complexities of a nonprofit, but should not replace consultation with a real live legal expert.
--reviewed by Whitney Digilio, VLAA intern,

Washington University School of Law student

Coming Events for St. Louis Fundraisers

• July 28 ("Major Gifts)" & Aug. 4 - ("Healthy Habits in Fundraising) sessions of AFP St. Louis Summer Morning Fundraising Seminar Series--nonmember cost - $49 per session--call 314.416-2238 or go the the AFP website link on this blog for details.
• Aug. 10 - CSPRC (Community Service Public Relations Council) lunch meeting with nonprofit Print Media panel, nonmember cost-$35, call 314.416-2237 by noon Aug. 6th to find out more.
• Aug. 12, 8:30 - 10 am, Gateway Center for Giving's Meet the Donor: Sports Philanthropy at Busch Stadium Champion's Club, cost-$30; contact www.centerforgiving.org or call 314.621-6220 to sign up.
• Seats are still available for participation in the Gateway Center for Giving's Will to Give program for nonprofits interested in starting a planned giving program. Contact the Center if you are interested.

Get Collaboration Basic Info Here July 21

NPO staff and board members:
If you're wondering if merging, consolidating or collaborating should be an important part of your organization's plans to thrive, consider attending this free session from 3-5 pm at the Schlafly Branch library. Attorney Dan Sise will discuss important considerations -- information, laws, regulations, etc. -- nonprofit leaders need to know about before they begin planning how best to work with another nonprofit or business. Pre-registration is required--just e-mail me. The session is cosponsored by NPML.

Learn NPO Financial Basics Here July 15

Nonprofit staff, board members and volunteers who want to understand

• how to read financial statements
• best budgeting & cash management practices
• trends in required financial accountability

are invited to a presentation by Mary Kay Lofgren and Debra Leible, CPAs and managers in the Nonprofit Division of RubinBrown LLP, at the Schalafly Branch Library Thursday July 15 from 3-5pm. There is no charge for this presentation, co-sponsored by NPML, but preregistration is required. E-mail me with your name, a daytime phone number and any questions.

Need Help Filing for your 501(C)3?

To help you select your nonprofit/fundraising reading this summer, we've asked VLAA summer interns to highlight and comment on some of the books available in our G&FC collection (and elsewhere)

IRS Form 1023 Tax Preparation Guide by Jody Blazek, CPA

Despite the fact that this book was written in 2004, it remains an excellent resource to use while filling out IRS Form 1023. (FYI: Sept. 2009 Form 1023 Revision changes are summarized at www.irs.gov/pub/irs-pdf/f1023.pdf ) The guide is easy to understand and takes the reader from the application process through the approval process. Line-by-line instructions for filling out Form 1023 and explanations of each of the form’s special schedules are presented in great detail. The author also explains what things the IRS is looking for when examining an application and warns the reader of organizational characteristics that may prevent an application from being approved. Appendices in the back show the reader what a complete Form 1023 and its attachments might look like for both a public charity and a private operating foundation. The appendices also include IRS correspondence samples, such as the acknowledgement of the applicant’s request and determination letters recognizing exemption. This book answers many questions a reader may have about filling out Form 1023.

--reviewed by Shannon Martínez, VLAA Intern
Law Student at Saint Louis University School of Law