Do you have a compelling story to share about your organization?

YouTube has a special nonprofit channel, at http://www.youtube.com/nonprofits.

Has anyone given it a try?  How has it worked for you?

Informative post on Connection Cafe (here)

here are a couple of resources: do you have others you’d recommend?

Wages in the Nonprofit Sector Bureau of Labor Statistics http://www.bls.gov/opub/cwc/cm20081022ar01p1.htm

from the Urban Institute

The Nonprofit Sector in Brief  Facts and Figures from the Nonprofit Almanac 2007 http://www.urban.org/UploadedPDF/311373_nonprofit_sector.pdf

I am a huge proponent of saying what I really mean. Well, you know, as much as is socially responsible/acceptable. <grin>

So I am a big supporter of changing the language (and approach) that many people use when it comes to tax exempt organizations that exist to benefit the communities in which they are located.  Why, oh why do we call these “nonprofit” organizations?  And why, oh why do so many people approach the financial aspects of these organizations from a place of need and lack??

It’s time to break out of that type of thinking and reframe our perceptions and approaches to what we are doing. !!  If you aren’t familiar with Hildy Gottlieb, I highly recommend both her blog (Creating the Future!) and her book, The Pollyanna Principles.  She offers a good introduction and road map to a more forward-looking approach to our Community Benefit Organizations.

Does your organization generate income from an on-going business venture that is not directly related to your mission? Maybe you rent some rooms in a building you own to another business. Perhaps in addition to selling merchandise to your membership, you sell items to non-members, as well. If your tax exempt organization if generating $1,000 or more in gross income from an unrelated business, a Form 990-T must be filed with the IRS. It is possible that taxes will be due on that unrelated income.

The IRS describes unrelated business taxable income (UBTI) as “income from a trade or business, regularly carried on, that is not substantially related to the charitable, educational, or other purpose that is the basis of the organization’s exemption.” to include “all gross income, less deductions directly connected with producing that income, but not including exempt function income.”

“Exempt function income” is gross income from dues, fees, charges, or similar items paid by members for the purposes for which exempt status was granted to the organization. Exempt function income also includes income that is set aside for qualified purposes.

Contact your accountant or tax professional if you have any questions.

Here are a few resources for further reading:

Resources:

IRS website  

IRS Publication 598, Tax on Unrelated Business Income of Exempt Organizations

Stay Exempt  

Idealist.org

This Friday, May 15th is the filing deadline for tax exempt organizations’ form 990s for organizations with December 31 year ends.

This is the second year that the e-postcard, Form 990N,  must be filed by organizations with revenues of less than $25,000.

See the how-tos and how comes at the IRS website:  this link.

Failure to file as required for three consecutive years can result in the loss of your organization’s exempt status – it’s worth taking a few minutes to make sure you’re up to date with your filings.  The IRS has a search site for e-Postcard filings: here

Don’t lose your exempt status due to an oversight!