There are many ways for a not-for-profit organization to lose its tax-exempt status — including participating in lobbying and campaign activities, receiving excessive unrelated business income and allowing board members to financially benefit from their positions. But the most common reason nonprofits lose their status is failure to file an annual Form 990 or 990-N […]
Filed under: General by OSA&C Tuesday, June 30th, 2020
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One of the strongest predictors of a not-for-profit’s long-term survival is multiple revenue streams. Many organizations with only one or two found that out the hard way when they failed during the 2008 recession. The same is likely to be true for nonprofits that do — or don’t — survive the current novel coronavirus (COVID-19) […]
Filed under: General by OSA&C Tuesday, June 16th, 2020
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The novel coronavirus (COVID-19) crisis has put enormous financial stress on many not-for-profits — whether they’re temporarily shut down or actively fighting the pandemic. If cash flow has dried up, your organization may need to do more than trim expenses. Here’s how to assess your financial condition and take appropriate action. Put your board in […]
Filed under: General by OSA&C Tuesday, June 2nd, 2020
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