Share this handy IRS pub with your board
I just stumbled onto the IRS’s “Compliance Guide for 501(c)3 Public Charities” at http://tinyurl.com/22uwe9. This handy guide has all of the various reporting and disclosure requirements all in one place as well as a long list of IRS resources and other issues that all nonprofit boards and leadership should know.
Have I mentioned yet how helpful the Internal Revenue Service website can be? I routinely go to the web site to double check substantiation and disclosure requirements for charitable gifts (IRS Pub 1771) or to check what might be considered unrelated business income (IRS Pub 598 ) or to get a sample conflict of interest policy for the board. They even have a special tab for Charities and Nonprofits, right on the home page.
What could be better than free information, straight from the horse’s mouth, so to speak.
It’s not often that we get to say thank you to the IRS, so thank you.