Nonprofit Law Podcast #27: Reporting changes to the IRS

Reporting changes to the IRS


Download: Nonprofit Law Podcast #27 (mp3, 6:19)

Shownotes

Intro

Tim Mooney… Welcome to the Nonprofit Law Podcast
Your guide to the laws impacting nonprofits.
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News & Notes
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New Year, New Changes?
A lot of nonprofits consider making changes to their organization - new offerings, new services, new board members... even new addresses
How do you handle letting the IRS know about these things?
Form 990 - your annual return generally contains places in the form to include any of the ordinary changes that happen with nonprofits
new address, new board members, new officers, etc.
What about bigger changes
In some instances, bigger changes require more information to supplement the 990 - for instance, if your nonprofit reincorporates, you would need to attach the new articles of incorporation to the Form 990
What about super-big changes?
If your nonprofit is changing its services or mission dramatically, it might require additional action
Private Letter Ruling - a lengthy process with the IRS asking for specific advice on a specific matter. Get a lawyer!
Another 1023 - sometimes the changes are so big that you might as well be a new organization (i.e. a totally different exempt purpose than the one you applied for recognition in the first place)
This would be due to big changes... going from private foundation to public charity, or nonrelgious organization to a religious one that is exempt from filing 990s, etc.

Resources
Exempt Organizations - Reporting Changes to IRS
Private Letter Rulings and Determination Letters

Closing

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This podcast provides general information about legal topics but it is not a complete discussion of all legal issues that arise in relation to nonprofits nor is it a substitute for legal advice. This podcast does not create an attorney-client relationship. This is general legal information and the contributors make no warranties regarding the general legal information provided in this podcast , and disclaim liability for damages resulting from its use to the fullest extent permitted by the applicable law.