Thursday, October 28, 2010

Collaboration/Evaluation Info Now Available Online Free

As a Foundation Center Cooperating Collection, we are pleased to call your attention to 2 new online electronic resources on nonprofit topics available FREE from the Foundation Center:

Take some time to see if they're useful to you. We'll be showing you through those and some other new free online resources at FOR4NPOs session here on Feb. 2, 2011. Watch for details.

Thursday, October 21, 2010

Need Basic Help Filling Out Your 990?

Here's the last of the summer series of G&FC book reviews by VLAA interns:

Revised Form 990: A Line-by-Line Preparation Guide by Jody Blazek and Amanda Adams

Nonprofit organizations that fall under Section 501(c) of the Internal
Revenue Code are required to file a 990 form annually. In December
2008, the form was revised. This book explains the changes made to
the form as well as uncovers the potential new challenges involved in
filing the form.

Blazek and Adams also spell out clearly who is and
who is not required to file a 990. Not only do these authors do a
great job of walking the reader through the steps of the new form, but
they also provide tips on how to stay organized and keep good records.

The book truly does go through the form line by line and is easily
comprehensible for a person without a background in accounting.

-- by Whitney Digilio, Washington University Law School, VLAA summer intern 2010
For more information on the 990 and it's importance to your organization, come to our Nov. 10 session descibed below.

Saturday, October 16, 2010

Learn about "The 990: Its Versions & Your Nonprofit's Tax Exempt Status" Here

Nov. 10, 3-4:30 pm here at Schlafly Library Dan Sise, attorney and NPML's community engagement specialist, will give discuss the various forms of the IRS 990 annual return, especially the new 990-N for small nonprofits. He'll also talk about what to do if you miss the 990 filing deadline and your status is threatened. Stop by the G&FC, call or e-mail me for details or to sign up.

Wednesday, October 6, 2010

Guide to Sarbanes-Oxley Highly Recommended

To help you select your nonprofit/fundraising reading , we asked VLAA interns to describe and comment on some of the books available in our G&FC collection (and elsewhere.) Here's another review for use in this political season:

Sarbanes-Oxley for Nonprofits by Peggy Jackson and Toni Fogarty

This is one of the best, if not the best, guide that I have reviewed thus far. The Sarbanes-Oxley Act was passed in 2002 and completely changed the playing field for nonprofit organizations. This guide is a must-read for any new or established 501(c)(3) organization that has not implemented policies and procedures specifically designed to insure compliance with the Act. Unfamiliarity with the ramifications of the Act does not bar nonprofits from liability, so it is essential that the governing members of all nonprofits have a clear understanding of their legal obligations. The Act centers on transparency and accountability, and the author is thorough and effective in attempting to provide organizations with all of the information and tools necessary to strengthen their infrastructures accordingly.

More specifically, the author delves deep into topics such as finance, document retention, governance, and whistleblower protection policies. For those organizations who do not appreciate the importance of the Sarbanes-Oxley Act, the author has included a section titled, “Five Myths That Hold Small Nonprofits Back” at the end of the guide. Compliance with the Act depends heavily upon organizations’ policies and procedures, samples of which can be found in the appendices.

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