Friday, March 6, 2009
CNP's Blog Now Available Directly on CNP Website
CNP's blog is can now be found directly on the Center's website, www.cnpchatt.org. Please click on the CNP Blog tab at the top of the main page to view the lastest postings!
Monday, February 16, 2009
Does Your Company offer an "Employer Matching Gift Program?"
The CNP was recently asked about employers in the Chattanooga area who had an "Employer Matching Gift Program", meaning that if I gave an organization $100 dollars, my employer would match my gift of $100 dollars and the organization would receive a total donation of $200. This can be one way to make an even greater impact with limited funds. Employers do this to encourage their employees to take a vested interest in their communities.
The CNP does not currently have such a list, so we’re asking for your assistance in identifying companies who offer these types of programs. What companies in the Chattanooga area do you know of that provide an "Employer Matching Gift Program" to their employees? These can be national/international corporations with local offices/stores or local businesses.
If you know of a company that provides these programs, please let us know by leaving us a comment with the company's name.
The CNP does not currently have such a list, so we’re asking for your assistance in identifying companies who offer these types of programs. What companies in the Chattanooga area do you know of that provide an "Employer Matching Gift Program" to their employees? These can be national/international corporations with local offices/stores or local businesses.
If you know of a company that provides these programs, please let us know by leaving us a comment with the company's name.
Wednesday, January 21, 2009
Half a Million Nonprofits Could Lose Their Tax Exemptions
GuideStar estimates that half a million nonprofits could lost their tax exempt status as a result of failing to file their IRS Form 990. The full article, posted on GuideStar's website recently, is available below.
Did you know that in May 2010, half a million nonprofits could find themselves stripped of their exempt status? The IRS estimates that that's the number of smaller organizations that have failed to file a Form 990-N.
The Pension Protection Act of 2006 requires exempt organizations that don't meet the income thresholds for Form 990 or 990-EZ to file a new return with the IRS. The IRS created Form 990-N for this purpose, and smaller nonprofits began using it last year to report on tax years ending on or after December 31, 2007.
The Pension Protection Act also mandates that the IRS revoke the tax-exempt status of any organization that fails to file a Form 990, 990-EZ, 990-PF, or 990-N for three consecutive years. Revocations will happen automatically beginning in May 2010. A nonprofit that loses its exemption because of failure to file will have to reapply to the IRS for exemption.
Experts have longed believed that numerous defunct nonprofits are listed as active in the IRS files. (Exempt organizations are required to inform the IRS when they go out of business, but many fail to do so.) It is unlikely, however, that these organizations add up to half a million.
That means that 18 months from now, hundreds of thousands of charitable nonprofits, many operating on a shoestring, may no longer be able to accept tax-deductible contributions. It means that half a million charitable and noncharitable organizations could suddenly find themselves required to pay federal income taxes—and subject to financial penalties if they fail to do so.
The IRS has made a concerted effort to inform smaller nonprofits about the 990-N, including mailings to every organization that their records indicate is required to file the new return. It's not surprising, though, that some nonprofits haven't heard yet—think of how many of your holiday cards or business mailings come back as undeliverable.
Smaller nonprofits make up as much as three-quarters of the nonprofit sector. Collectively they have a tremendous impact. At GuideStar, we believe the sector—and society—will be the poorer if these organizations lose their exemptions. But we also believe that tax exemption is a privilege, and that this privilege carries significant responsibilities. One of the most important is to report to the public (via the IRS) on our activities.
There's something we all can do to improve the situation: spread the word. If you volunteer with, work for, or give to a smaller nonprofit, make sure the organization's leadership knows about the 990-N. Encourage acquaintances associated with other small nonprofits to do the same. If they want more information, refer them to www.irs.gov/charities/article/0,,id=169250,00.html.
Did you know that in May 2010, half a million nonprofits could find themselves stripped of their exempt status? The IRS estimates that that's the number of smaller organizations that have failed to file a Form 990-N.
The Pension Protection Act of 2006 requires exempt organizations that don't meet the income thresholds for Form 990 or 990-EZ to file a new return with the IRS. The IRS created Form 990-N for this purpose, and smaller nonprofits began using it last year to report on tax years ending on or after December 31, 2007.
The Pension Protection Act also mandates that the IRS revoke the tax-exempt status of any organization that fails to file a Form 990, 990-EZ, 990-PF, or 990-N for three consecutive years. Revocations will happen automatically beginning in May 2010. A nonprofit that loses its exemption because of failure to file will have to reapply to the IRS for exemption.
Experts have longed believed that numerous defunct nonprofits are listed as active in the IRS files. (Exempt organizations are required to inform the IRS when they go out of business, but many fail to do so.) It is unlikely, however, that these organizations add up to half a million.
That means that 18 months from now, hundreds of thousands of charitable nonprofits, many operating on a shoestring, may no longer be able to accept tax-deductible contributions. It means that half a million charitable and noncharitable organizations could suddenly find themselves required to pay federal income taxes—and subject to financial penalties if they fail to do so.
The IRS has made a concerted effort to inform smaller nonprofits about the 990-N, including mailings to every organization that their records indicate is required to file the new return. It's not surprising, though, that some nonprofits haven't heard yet—think of how many of your holiday cards or business mailings come back as undeliverable.
Smaller nonprofits make up as much as three-quarters of the nonprofit sector. Collectively they have a tremendous impact. At GuideStar, we believe the sector—and society—will be the poorer if these organizations lose their exemptions. But we also believe that tax exemption is a privilege, and that this privilege carries significant responsibilities. One of the most important is to report to the public (via the IRS) on our activities.
There's something we all can do to improve the situation: spread the word. If you volunteer with, work for, or give to a smaller nonprofit, make sure the organization's leadership knows about the 990-N. Encourage acquaintances associated with other small nonprofits to do the same. If they want more information, refer them to www.irs.gov/charities/article/0,,id=169250,00.html.
Tuesday, December 30, 2008
Welcome!
Welcome to the Center for Nonprofit's Blog! The CNP staff encourages nonprofit professionals in our community to participate by posting your comments or suggestions to any article posted. We will continue to post updates on what the CNP is doing as well as articles on variety of topics of interest to our community.
Initally, We decided to post the guidelines for our new Matching Funds Program in order gain feedback. Please note that this is a new program for the CNP and there are bound to be glitches in the system. We appreciate your suggestions and input and will review the program after the first quarter is complete.
Tell us what you think about the CNP Matching Funds Program!
CNP's Matching Funds Guidelines
The CNP is proud to offer matching funds of 50% to qualifying CNP members. Organizations with annual budgets under $1,000,000 dollars can apply to recieve these funds by completing the Matching Funds Request Form below. Funds will be distrubuted on a first come first served basis, and cannot be applied to any training in which nationally known speakers are brought in or towards our Annual Tennessee Valley Fundraising Institute registration fee unless otherwise noted.
Matching Fund Request Form
CNP members who receive matching funds must follow these guidelines:
Initally, We decided to post the guidelines for our new Matching Funds Program in order gain feedback. Please note that this is a new program for the CNP and there are bound to be glitches in the system. We appreciate your suggestions and input and will review the program after the first quarter is complete.
Tell us what you think about the CNP Matching Funds Program!
CNP's Matching Funds Guidelines
The CNP is proud to offer matching funds of 50% to qualifying CNP members. Organizations with annual budgets under $1,000,000 dollars can apply to recieve these funds by completing the Matching Funds Request Form below. Funds will be distrubuted on a first come first served basis, and cannot be applied to any training in which nationally known speakers are brought in or towards our Annual Tennessee Valley Fundraising Institute registration fee unless otherwise noted.
Matching Fund Request Form
CNP members who receive matching funds must follow these guidelines:
- Must be a current CNP member
- Must submit a copy of your annual budget, if not already on file
- Payment of 1/2 the course fee must be recieved prior to the training event
- Organization which receive matching funds and do not attend the training in which they registered and did not cancel their registration at least 24 hours beforehand will no longer be eligible for matching funds. Please note, if you are unable to attend someone from your organization may attend in your place.
- Matching funds request form must be submitted or on file
- Must indicate that the organization is applying for matching funds in the "comments" box when registering online
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