Nonprofit

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Washington State Passes New Nonprofit Corporations Act!

Overview Earlier this week, Governor Inslee signed into law Senate Bill 5034. Simply put, this law completely overhauls and replaces the current version of the Washington Nonprofit Corporations Act. The effort to pass this law started in 2008 with the adoption of the Model Nonprofit Corporations Act by the Washington State legislature. From there, a …

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tax obligations

Tax Obligations and Filing Requirements of Nonprofit Organizations

Many are confused by nonprofit and tax-exempt corporations. They can be similar to some extent, but they have many differences in tax obligations. If you’re thinking of starting a social enterprise, it’s essential to understand what “not-for-profit” means. Many believe that nonprofit organizations do not pay taxes. This isn’t really the case. Nonprofits like churches and …

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501(c)(3)

A Brief Overview of Tax Obligations and Filing Requirements of Nonprofit Organizations

Filing requirements for tax-exempt organizations can be a maze of bureaucracy. Though many tax-filing requirements can be similar for the different types of tax-exempt organizations, there are key distinctions 501(c) organizations should be aware of. Fortunately there are tax preparation services that can help in this matter. Though before we go any further, it is …

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tax exempt lawyer seattle

Helpful Excise Tax Insights for Tax-Exempt Employers

Because of the Tax Cut and Jobs Act of 2017, there have been many changes to employment and income taxes. Among these changes is the excise tax on tax-exempt employers, particularly for their highly compensated, ‘covered’ employees. This article will discuss this excise tax and provide some useful insights for tax-exempt organizations. A Quick Recap …

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Introducing the New 1023-EZ!

Effective July 1, 2014, the IRS implemented a new, streamlined application process for smaller organizations seeking tax-exempt status as under IRC section 501(c)(3) . Replacing the old, longer Form 1023, the new, shorter, and electronic Form 1023-EZ is the IRS’s solution to reduce the existing backlog of applications for tax-exemption. Although this will not affect …

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Why Business Can be Good at Solving Social Problems

Business is a tool, its how you use that tool that matters.  Michael Porter, the Harvard Business School Professor in the Ted Talk video below, argues that business can be the tool to solve the world’s greatest problems. We all know the social problems: childhood obesity, poverty, water scarcity, poor healthcare, climate change. Usually, we look …

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Patagonia Launches In House Fund

There is lots of movement in the social impact investment space lately it seems.  Yesterday on Businessweek.com there was an interesting piece on Patagonia, California’s first Benefit Corporation, and its announcement of the creation of an in house venture fund aimed at startups looking to make a positive social impact in these distinct areas:  clothing, …

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cactus, watering can, houseplant

“The Way We Think About Charity is Dead Wrong” by Dan Pallotta

Many people have a misconception about fundraising costs and charitable giving.  Too many donors ask to see the numbers on a charity’s overhead and how much of their donated dollar will be spent “on the ground” without also asking about the overall impact of an organization.  This thinking, among other myopic views about charity, is …

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Online Charitable Solicitations: 4 Tips for Using the “Donate Here” Button

Your shiny new non-profit website is up and running and – like most tax-exempt organizations – you want to be able to solicit charitable donations from American philanthropists! First thing’s first, you have to make a page telling people all the ways they can donate with contact information. The common donations non-profits ask for are …

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