We have been posting on this regularly as it is crucial to understand and take care of the requirements the 2006 law imposed on nonprofits, and this news from the Nonprofit Quarterly Newswire sums up the situation succinctly.
An excerpt.
“May 8, 2010; The Anchorage Daily News | A 2006 law, The Pension Protection Act of 2006, states that nonprofits that do not file their form 990 for three years in a row could lose tax-exempt status. This law affects all nonprofits, even those previously not required to file the form. This year marks the third year since the law took effect and therefore the potential D-day for many groups across the country. NPQ will provide a more in-depth story written in partnership with the Minnesota Council of Nonprofits and the National Center for Charitable Statistics early this week.
“The Foraker Group, a group focused on helping Alaska Nonprofits, says that 1,000 nonprofits in that state have yet to file their 990 form with the IRS. … This story from Mankato, Minnesota says there are 400,000 groups nationwide that have not filed. This new law makes for sensational headlines but it's relatively easy to avoid the drama.”
About
- David H. Lukenbill
- I am a California native, married, we have one daughter and live close to the American River with two cats and all the wild critters we can feed. I am a management consultant to nonprofit organizations and have an Associates of Arts degree in Administration of Justice from Sacramento City College, a Bachelor of Science degree in Organizational Behavior from the University of San Francisco and a Master of Public Administration degree, also from the University of San Francisco.