In December of 2008, the IRS released what has been coined as the “New Form 990.” The driving forces behind the revised form included pressure on the IRS from Congress to closely monitor tax-exempt organizations and the need to publicly disclose more information about nonprofits’ financial stability to the … Continue reading
On May 8, the House Ways and Means Subcommittee on Oversight heard testimony from the IRS’s Director of the Exempt Organizations Division, Lois Lerner, regarding the agency’s recently released Final Report on the College and University Compliance Program (CUCP). What follows is a brief overview of the hearing. In … Continue reading
In a move towards increased transparency and a belief that more is better, House Ways and Means Chairman Dave Camp and Senate Finance Committee Chairman Max Baucus launched a website to gather additional input from the public on overhauling the tax code. Their new, open forum-style website allows the … Continue reading
It’s been a few weeks since the BDO Higher Education practice returned from the 2013 SACUBO Annual Meeting in Atlanta. About a month earlier, a number of us gathered in Boston for the EACUBO Annual Workshop. At each of these gatherings, we have had the pleasure of meeting higher … Continue reading
At long last, the Internal Revenue Service has issued the final report on its Colleges and Universities Compliance Project (CUCP). The Project started in 2008 when the IRS sent a 33-page questionnaire to 400 colleges and universities – public, private, small, large and medium sized institutions – asking them … Continue reading
Today’s nonprofit and tax-exempt environment is continuously changing with updates to Forms 990, increased scrutiny of financial policies, possible changes to reporting standards, and charitable deduction debates – just to name a few. However, in light of the pressures that are mounting in the sector, nonprofits are doing what … Continue reading
Scrutiny of tax-exempt hospitals continues to increase, and with that, new regulations have been proposed to marry the Internal Revenue Code (IRC) with requirements mandated by the Patient Protection and Affordable Care Act (PPACA). IRC Section 501(r) sets forth certain requirements for tax-exempt hospitals that are now required to … Continue reading
Which issues are keeping you and your colleagues up at night? Take our first online survey and let us know which nonprofit matters you are most concerned about going into the second quarter of 2013. We’ll compile the results and offer our thoughts on the most common issues in a … Continue reading
Lawmakers on Capitol Hill have been floating all sorts of ideas these days to fix our ailing economy. Some have been tried before, with limited success. Others have grown increasingly complex and confusing. And a handful are unlikely to make much difference at all. As we have discussed on … Continue reading
A quick search for “nonprofit due diligence” brings up thousands of articles offering donors tips for evaluating the charities they choose to give their funds. But if you are a nonprofit leader or board member, you’d be hard-pressed to find clear cut direction for keeping your own house in … Continue reading
