Have you been asked to serve on a nonprofit board? If so, what legally related aspects do you need to learn? Or if you have just added a new director to your organization, what do you need to share with them? New directors should be well equipped to serve well on nonprofit boards. Here are key tips to promote organizational vitality, mission advancement, and leadership success.
The Trump Administration is back on track with limiting tax-exempt organizations’ disclosure of major donor information, through Form 990’s Schedule B. On September 6, 2019, the U.S. Treasury Department issued a notice in response to the recent judicial invalidation of IRS Revenue Procedure 2018-38, thereby commencing a “notice and comment” period for reinstating such requirements through new government regulations. Once that time period ends, the new donor disclosure restrictions will take effect.
A Montana federal district court judge recently set aside the IRS’s Revenue Procedure 2018-38, which had eliminated IRS Form 990 Schedule B disclosure requirements for Section 501(c)(4) and other tax-exempt entities but left intact such requirements for Section 501(c)(3) organizations.