What's your nonprofit's mission? Given the continued talk of reducing charitable tax deductions, along with perennial fundraising challenges, nonprofits these days need compelling mission statements more than ever. How effectively are you communicating your mission to donors and other constituents? At a more foundational level, much effort has your board invested in developing a strong mission statement to serve as its guiding compass?
Rules matter. For nonprofits, bylaws contain their internal governing rules. Viewing a nonprofit as a legal "person," the bylaws effectively function as its "skeleton" -- internally determining how the nonprofit should "move" in its governance and key aspects of its operations.
Is your organization required to file an IRS Form 990 return? Except for churches, other religious institutions, and their closely related organizations, all tax-exempt organizations must file one of three versions of the Form 990 information return. No such organization is too small for the IRS! Failure to file Form 990s for three consecutive years will result in automatic revocation of tax-exempt status. So make sure you have the necessary information to fulfill this important filing requirement.