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 …
Public Charity Status
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 …