How can nonprofits best guard their Section 501(c)(3) tax-exempt status? What activities may they engage in, and what are potential operational problems? This session addresses key legal compliance aspects along with related do’s and don’ts such as prohibited and restricted politically related activities, private benefit and inurement, potential penalties and revocation issues, applicability and calculation of the requisite “public support” test, additional “unrelated business income taxation” issues, and optimal IRS Form 990 information return reporting in connection with these tax-related areas.
Credits: 1 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 0 Other PR
Meaghan Falkanger, Wagenmaker & Oberly, LLC, Chicago