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Importance of Form 990 for Non-Profit Organizations Even though non-profit organizations are exempt from income tax, they are obligated to file their income tax informational returns, usually on Form 990 with the IRS. Form 990 is an important document that…
Audited Nonprofit Financial Statements Check out the importance of Audited Nonprofit Financial Statements: 1- Peace of Mind to Donors. Audited financial statements act as proof that all available funds are well utilized and provide the donors some peace of mind…
Importance of Non-Profit Organization The government tries it’s best to make the lives of people better by providing common services to its citizens. Because the government is only one body, they might delay their services or some services may not…
What is the work of a Non-Profitable Organization? You might have come across the term Non- profitable Organization, but do you know what it means or what is non-profit work? Non-profitable organizations, also called non-profit institutions or non-profits in general,…
How to Start a Nonprofit Organization? A great way to give back to your community and help those in need is by starting a Non-Profit Organization. Non-profit organizations examples are usually educational, scientific, religious or charitable institutions. There are several…
The Internal Revenue Code section 501(c)(3) is a provision that allows nonprofit organizations(charities, educational institutions etc.) to be exempted from paying certain taxes. However, according to the Nonprofit Risk Management Center, more than a hundred 501(c)(3) organizations lose the exempt…
Excellent Non-Profit Tax Preparation Tips – How To Get The Job Done Non-profit tax preparation may be similar to the profit tax preparation. The slight difference is there a few tax exemptions and deductions that the non-profit organization has made…
Introduction to Financial Management Financial management is crucial for the success of any organization, be it private, government or non-governmental organization. For any organization to be successful, they ought to watch their finances and make the right decisions at the…
Accounting System of the Organization The accounting process is a series of activities that starts with a transaction and ends with the closing of the books. Because this process is repeated that’s why it is called Accounting Cycle. By describing…
A brief summary of governments revenues Governments fund their activities in a range of ways. The main components of government revenue are typically consumption taxes, income taxes and a range of non-tax revenues, including grants from donors. The exact mix…