Political Intervention for a 501(c)(3)

Christian Shaeffer Exempt Non-Profit Organizations Leave a Comment

501(c)(3) Non Profit Organizations (NPO) must be mindful and careful while engaging in certain political activities.  There are very specific guidelines in the Internal  Revenue Code (IRC) that govern these activities.  Infractions of these guidelines can jeopardize your exempt status. Organizations exempt under 501(c)(3) of the IRC shall not incur any expenditure for political intervention (of or for a specific …

Record and Receipts for In-Kind Contributions

Christian Shaeffer Exempt Non-Profit Organizations Leave a Comment

In-kind contributions are donations of goods and certain professional services rather than monetary donations (think clothing and household items to Goodwill).  For Non-Profit Organizations (NPO) of all kinds (both exempt and non exempt from federal income tax), recording in-kind contributions provides a means of recognizing and valuing contributed services and property.  Recording In-kind contributions, in addition to monetary, is a …

501(c)(3) 4 or 5, what’s the difference?

Christian Shaeffer Exempt Non-Profit Organizations Leave a Comment

Often times I’m hired to help an organization or group of people set-up a non profit exempt organization.  Invariably, one of the first questions that comes up is, “under which section of the Internal Revenue Code (IRC) will the organization be considered exempt, and what are the pro’s and con’s?” First off, we need to back up.  There are many …

Non Profit or Exempt? What’s the Difference?

Christian Shaeffer Exempt Non-Profit Organizations Leave a Comment

Often times, the terms non profit and exempt are used to describe organizations with a mission to serve a certain purpose (often charitable).  While most non profit organizations (NPO) are exempt, it’s important understand the terms because they both have difference meanings. Non profit status is a State concept and is regulated at the state level.  According  to Montana Secretary …

Public Charity Status

Christian Shaeffer Exempt Non-Profit Organizations Leave a Comment

Schedule A of the 990 and 990-EZ is used by exempt non-profit organizations (NPO) to provide required information regarding public charity and support status.  NPO leaders, and even other CPA’s, sometimes ask, “what’s the purpose of this Schedule? I’m already a 501(c)(3).” Schedule A is used by 501(c)(3) organizations, and some others, to show that they are primarily supported by …