1023

Earned Income Strategies (Part 5 of 5): Putting It All Together (Strategically Using Strategies)

For the final blog post in this series, we will run through a case study of a hypothetical nonprofit to see how each one of these strategies can be used and how each can interact with the other.             The Doing Good Foundation is a Washington nonprofit 501(c)(3) organization. The Doing Good Foundation’s mission is …

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Earned Income Strategies (Part 4 of 5) Unrelated Business Activity (A Cost to Make a Difference)

Besides conducting related business activity and earning income through passive strategies, nonprofits can simply earn income through unrelated business activity. Unrelated business activity is exactly what it sounds like: activity a nonprofit conducts that has nothing to do with its charitable purposes. More accurately unrelated business income is  income generated from activity that is: A …

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Coronavirus and the Law: Is there a Legal Duty to Prevent Harm during a Pandemic?

It’s no doubt that the novel coronavirus (COVID-19) has introduced a high level of panic for local businesses, especially with many big companies facing large-scale work force consequences due to the presences of the disease. Many smaller companies might ask: what responsibility do I have? Are there any legal liabilities if COVID-19 spreads throughout their …

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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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