Many nonprofits and other tax-exempt organizations have been eagerly waiting to claim their credits under the Inflation Reduction Act of 2022. Well, the wait is over! The IRS has finally launched its pre-filing registration tool, which means you can now begin the claims process for eligible green energy credits. In this article, you will learn more about how to use the new pre-filing tool to claim credits.  

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Are you tired of having the same board members at the helm year after year? If so, you'll be happy to know that term limits for board members are gaining popularity in the nonprofit world. While term limits may have some downsides, the benefits generally outweigh the risks. Many organizations have found that implementing term limits brings a fresh perspective to the board and promotes diversity and cooperation. Read on to learn more about the pros and cons of term limits and establishing them for your organization.

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Are you a non-profit organization looking to boost your income? Sponsorship and advertising dollars can be a great way to do so. But be aware—you may owe unrelated business income tax (UBIT) if sponsors or advertisers receive a substantial benefit or if it isn't a related business activity. In this article, you will learn which aspects of sponsorship and advertising are taxable for non-profits.

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As a nonprofit, you may engage independent contractors to help with your workload. However, it's important to remember that nonprofits that pay independent contractors must keep completed Form W-9s on file for them. In this article, we offer best practices for collecting and reporting this information from independent contractors to avoid any potential penalties from the IRS.

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