You’ve likely seen the Trump Administration’s continued attacks targeting nonprofits on ideological grounds. We are now hearing additional executive orders (EOs) targeting nonprofits may be released soon, and while nothing… Continue reading Can a President revoke a nonprofit’s tax-exempt status?
Category: Finance & Legal
Maintaining DEI Commitments: Legal Considerations in Today’s Climate
Recent actions by the federal administration in the form of executive orders are creating confusion by implying that long-standing, legally compliant DEI practices might somehow be unlawful. These executive orders… Continue reading Maintaining DEI Commitments: Legal Considerations in Today’s Climate
The power of staff & board financial literacy
I cannot understate the sense of confidence I developed simply by understanding what each line on the balance statement represented, because financial literacy is power.
What should nonprofits know about ARPA funding?
Information on finding and navigating funding opportunities provided through the American Rescue Plan Act.
Getting ARPA funds to nonprofits
Asking MN counties & cities to use federal relief dollars for nonprofit grants.
IRS glitch results in loss of tax-exempt status for thousands of nonprofits
Recently, thousands of nonprofits discovered their tax-exempt status had been erroneously revoked by the Internal Revenue Service (IRS).
PPP loans of less than $2 million will be assumed to be in compliance with the good faith verification requirement
PPP loans of less than $2 million will be assumed to be in compliance with the good faith verification requirement
IRS Issues Guidance for Reclaiming Transportation UBIT Payments
The IRS has issued guidance that will help nonprofits quickly get back taxes paid on the now-repealed tax on nonprofit transportation benefits.
Tax on Nonprofit Employee Transportation Benefits Repealed
On Friday, December 20, 2020, H.R. 1865, a package of funding and tax provisions that includes the repeal of a tax on nonprofit employee transportation benefits, is expected to be signed into law.
Is Your Nonprofit Impacted by Federal Tax Changes?
Minnesota’s nonprofits are part of strong, thriving communities so it is important that our tax policy create strong partnerships with government. However, changes in federal laws are creating confusion and increasing unrelated business income tax (UBIT) for nonprofits, which is disrupting this partnership.