Author: Publisher:
ISBN:
Category : Charitable uses, trusts, and foundations
Languages : en
Pages :
Book Description
Minnesota Nonprofit and Tax-exempt Organizations
Author: Publisher:
ISBN:
Category : Charitable uses, trusts, and foundations
Languages : en
Pages :
Book Description
Nonprofit and Tax Exempt Organizations
Author: Minnesota Do Your Own Nonprofit: The Only GPS You Need for 501c3 Tax Exempt Approval
Author: Kitty BickfordPublisher: Do Your Own Nonprofit
ISBN: 9781633085510
Category : Business & Economics
Languages : en
Pages : 372
Book Description
IRS JUST CHANGED EVERYTHING - 2020 UPDATES INCLUDED DON'T BUY THIS BOOK if you want jargon and complicated explanations. You will be disappointed with the easy-to-understand concepts presented in plain English for people who want a nonprofit set up right the first time, but don't want to pay an attorney. You Also Get: 3 Questions Answered by the Authors Line-by-line coverage of the NEW 2020 IRS Mandatory Online Form 1023 Step-by-step instructions in logical order Specific state requirements before and after approval EXACT Mandatory IRS language Comprehensive coverage of Form 1023-EZ Guidance on Reinstatement after Automatic Revocation Special Chapter by Grant Guru Judy Hanna Kitty and Margaret operate Tax Exempt 501c3, LLC (www.taxexempt501c3.com) and have set up over 1,500 tax-exempt nonprofit organizations around the world.
Taxation of Non-profit and Tax-exempt Organizations
Author: Minnesota Continuing Legal EducationPublisher:
ISBN:
Category : Tax exemption
Languages : en
Pages : 41
Book Description
Minnesota Nonprofit Corporations
Author: John S. HibbsPublisher:
ISBN:
Category : Nonprofit organizations
Languages : en
Pages : 376
Book Description
Starting and Running a Nonprofit Organization
Author: Joan M. HummelPublisher: U of Minnesota Press
ISBN: 9781452901329
Category : Business & Economics
Languages : en
Pages : 168
Book Description
Starting and Running a Nonprofit Organization is a book for people who are forming new small nonprofits; thinking about converting an informal, grassroots group into tax-exempt status; reorganizing an existing agency; or currently managing a nonprofit. It provides practical and basic how-to information on legal, tax, organizational, and other issues particular to nonprofits. This one-of-a-kind resource has been a valuable guide to nonprofit management for decades. While much of the information originated in an earlier era of nonprofit formation, it remains highly useful for gaining an overview and creating an action plan for people entering this realm of organizational management. Its compact format provides information in an easy-to-understand style. The book describes, step-by-step, the typical phases of creating and operating a new nonprofit, including incorporation, establishing a board of directors, writing bylaws, obtaining tax-exempt status, creating a strategic plan, budgeting and grant seeking, understanding accounting principles, managing human resources, and creating a community relations plan. The Center for Nonprofit Management is a department of the Graduate School of Business at the University of St. Thomas in Minneapolis and St. Paul. It provides training and guidance in all aspects of the nonprofit sector to existing organizations as well as individuals or groups who are seeking help in starting a nonprofit.
Payments in Lieu of Taxes
Author: Daphne A. KenyonPublisher:
ISBN: 9781558442160
Category : Municipal services
Languages : en
Pages : 0
Book Description
Charitable nonprofit organizations, including private universities, nonprofit hospitals, museums, soup kitchens, churches, and retirement homes, are exempt from property taxation in all 50 states. At the same time, these nonprofits impose a cost on municipalities by consuming public services, such as police protection and roads. Payments in lieu of taxes (PILOTs) are payments made voluntarily by these nonprofits as a substitute for property taxes. In recent years, municipal revenue pressures have led to heightened interest in PILOTs, and over the last decade they have been used in at least 117 municipalities in at least 18 states. Large cities collecting PILOTs include Baltimore, Boston, Philadelphia, and Pittsburgh. Boston has one of the longest standing and the most revenue productive PILOT program in the United States. PILOTs are a tool to address two problems with the property tax exemption provided to nonprofits. First, the exemption is poorly targeted, since it mainly benefits nonprofits with the most valuable property holdings, rather than those providing the greatest public benefit. Second, a geographic mismatch often exists between the costs and benefits of the property tax exemption, since the cost of the exemption in terms of forgone tax revenue is borne by the municipality in which a nonprofit is located, but the public benefits provided by the nonprofit often extend to the rest of the state or even the whole nation. PILOTs can provide crucial revenue for certain municipalities, and are one way to make nonprofits pay for the public services they consume. However, PILOTs are often haphazard, secretive, and calculated in an ad hoc manner that results in widely varying payments among similar nonprofits. In addition, a municipality's attempt to collect PILOTs can prompt a battle with nonprofits and lead to years of contentious, costly, and unproductive litigation. For this policy focus report, authors Daphne A. Kenyon and Adam H. Langley have researched the continuing policy debate over property tax exemptions among municipalities and nonprofit organizations, and they offer the following recommendations. PILOTs are one revenue option for municipalities. They are most appropriate for municipalities that are highly reliant on the property tax and have a significant share of total property owned by nonprofits. For example, a Minnesota study found that while PILOTs could increase property tax revenue by more than ten percent in six municipalities, there was negligible revenue potential from PILOTs for the vast majority of Minnesota cities and towns. Similarly, PILOTs are not appropriate for all types of nonprofits. PILOTs are most suitable for nonprofits that own large amounts of tax-exempt property and provide modest benefits to local residents relative to their tax savings. Municipalities should work collaboratively with nonprofits when seeking PILOTs. The best PILOT initiatives arise out of a partnership between the municipality and local nonprofit organizations, because both sectors serve the general public and have an interest in an economically and fiscally healthy community. In some cities, case-by-case negotiation with one or several nonprofits is best, as is the case between Yale University and New Haven. In cities with a large number of nonprofits, such as Boston, creating a systematic PILOT program can promote horizontal equity among tax-exempt nonprofits and raise more revenue than negotiating individual agreements.
Federal Tax Obligations of Nonprofit Corporations
Author: United States. Internal Revenue ServicePublisher:
ISBN:
Category : Nonprofit organizations
Languages : en
Pages : 2
Book Description
Nonprofit and Tax Exempt Organizations Practice
Author: A Guide to Starting a Business in Minnesota
Author: Charles A. SchafferPublisher:
ISBN:
Category : Business
Languages : en
Pages : 112
Book Description