Charity Lawyer Blog
Nonprofit Law Simplified
The end of the year is a busy time for all organizations, and we often see important obligations slip through the cracks. Properly navigating these tasks is essential to maintaining tax-exempt status and ensuring an organization’s continued success.
Failure to register can lead to enforcement action by the Attorney General’s Office in each state where solicitation occurs.
Tax-exempt financing offers a powerful tool for 501(c)(3) organizations to fund essential capital improvements at significantly lower interest costs compared to conventional debt options. By issuing tax-exempt bonds, organizations can tap into a pool of investors who are not subject to federal income tax on interest payments, allowing for lower interest rates.
While the calendar year is the default option, nonprofits have the flexibility to choose a different fiscal year that aligns better with their operations and reporting needs.
n the complex landscape of nonprofit corporations, the role of the board of directors is crucial in steering the organization towards its mission. To ensure transparency, accountability, and sound decision-making, boards must establish and implement robust policies and procedures.