Non-Profits - Pay Attention - You could lose your tax exempt status on October 15

Tue, 12 Oct 2010 17:40:00 GMT

Calling all non-profits - Act NOW or lose your tax exempt status.

The bad news - any non-profit that has not filed its income tax return Form 990-N by October 15, 2010 will lose its tax exempt status and need to reapply.

The good news - you still have time to fix the problem. You can file the Form 990-N electronically for tax years 2007, 2008 and 2009 on or before October 15, 2010 and keep your tax exempt status. You must file for all 3 years if you have been in existence that long and this offer expires on the 15th.

Our colleagues at Sax Macy Fromm & Co., CPA's have sent around a newsletter describing the issue for non-profits.

The scariest part - over 9000 New Jersey non-profits are at risk. Click here to see if you are on the list.

The Merger of Two Great Cities

Tue, 22 Dec 2009 10:00:00 GMT

An open call for change. Change where it counts, in brands.

Don't read this if you have a closed mind and can't imagine a different future beyond tomorrow. You know who you are, this will make you cringe and we don't need that on our conscience.

For the remaining, take a minute to consider that a city government and a business are fairly similar. They have income, expenses and they provide services to a specific audience. They employ people and should be governed by the same natural economics that exist for all organizations (for profit, government or not-for-profit).

Now consider the Twin Cities (Minneapolis and St. Paul) as two similar organizations. They have a fair amount of duplication, providing similar services, having similar roles, similar physical proximity, similar missions, etc. Yet, to this day they are separate operating organizations.

Yes. The suggestion here is a merger of cities and a merger of brands. Minneapolis and St. Paul.

If you need examples, look to Budapest (Buda and Pest) and New York merging with Brooklyn. If you're wondering why there are no other modern examples, welcome to my world of wonderment.

Now, before your head starts to move back and forth, this doesn't mean we eliminate half the jobs. Though if you've been through a merger, there are efficiencies to be found in duplicate roles. It does mean someone has to figure out the brand strategy behind two merged brands. You could treat it like the two are still separate, but run them from one back office, creating the efficiencies of one government while still having two cities. Look to Byerly's and Lunds as a great example of how this could be accomplished. Or merge them in under an existing brand name (Twin Cities) would also be a good option. The last two options would be a new name entirely, which would be an interesting challenge if we involved voters in the naming decision. Lastly some smerging of the two names (Minnstpauleapolis) which would certainly not be our suggestion.

Whatever the strategy, the savings would be tremendous. This isn't savings to the organization, but rather savings to each citizen of these two great cities. If they were two businesses a merger would have occurred long ago.

—Aaron Keller, Capsule

New York Attorney General Investigates "Pay-to-Play" Donations by Charities

kjordan@mckennalong.com (Kylie Jordan) — Tue, 27 Oct 2009 19:46:19 GMT

New York State Attorney General Andrew M. Cuomo has ordered dozens of charities to take back illegal political contributions, or risk losing their tax-exempt status, [the New York Post has reported].

Cuomo has uncovered improper campaign contributions by not-for-profit organizations to New York State lawmakers and New York City council members. Federal and state laws prohibit certain not-for-profit organizations from engaging in political activity, including making campaign contributions. Violation of these laws can jeopardize an organization's tax-exempt status.

It has been reported that Cuomo's investigation of campaign contributions is a by-product of an ongoing probe launched two years ago into pork-barrel spending -- also known as "member items" -- by New York State lawmakers. It is being reported that some illegal contributions have been made after an organization received a member item from state lawmakers.

Looking for a Job? Try Non Profits!

cmintz@bioinsights.com (Cliff Mintz) — Sun, 04 Jan 2009 21:41:03 GMT

Making a profit (and a large one at that) is the primary objective and driving principle of capitalism. That said, the for-profit sector is currently in a shambles—mostly due to greed and stupidity of the so-called stewards of the American economy. Maybe it is time for many of us to abandon corporate greed in favor of job opportunities in the more philanthropic and altruistic not-for-profit sector. I was surprised to learn that, despite the current economic downturn, there are growing numbers of jobs at non-for-profit hospitals, clinics, civic organizations and education (pre-school, primary and secondary).

While these jobs typically pay less than for-profit ones, their for-profit equivalents may no longer exist. And, as we all know too well, having any job at all is a big plus in these dismal economic times. Unfortunately, not-for-profit jobs like their for-profit counterparts are not immune to economic realities and layoffs. Nevertheless, there are currently not-for-profit jobs out there and now may be as good of a time as any to check them out!

Until next time…

Good Luck and Good Job Hunting!!!!!!!

Recent Articles tagged not-for-profit from LexMonitor

Non-Profits - Pay Attention - You could lose your tax exempt status on October 15

The Merger of Two Great Cities

New York Attorney General Investigates "Pay-to-Play" Donations by Charities

Looking for a Job? Try Non Profits!