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Don't Let Your Organization Disappear

Over 542,000 U.S. nonprofits that previously were considered too small by IRS standards now have to file form 990-N (e-postcard) or run the risk of losing their charitable status. Due to their annual gross receipts being under $25,000, these organizations were exempt from such filing requirements, but new regulations have changed this rule. The first filing was required by May 15, 2008. Organizations that fail to submit their information for three years in a row will have their tax-exempt status revoked by the IRS. Links to file the 990-N can be found at www.irs.gov/charities. Minnesota has 17,659 previous non-fliers that should now file the 990-N, but as of May 15 only 1,714 have done so. If you are involved in a small nonprofit, please remind them to file and pass the word along to others.

 

   

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