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Nonprofit Tax Resources for the Resourceful

Finding tax resources for your nonprofit may not be as simple as you thought. Laws change, state guidelines shift, and new information is always being added by both nonprofits and for-profit companies to help you best grow your organization. How do you know where to find everything you need?  

How do you know which websites to trust?

Whether you’re thinking of starting a nonprofit or if you’re involved in the day-to-day operations of an existing charity, there’s always plenty to learn about how to best run your chapter. We’re here to help you find the right answers.

We’ve compiled some of the best resources out there for nonprofit management, from tax filing information to what other charities are doing right. We’ve also included state-by-state information to help with local details as well. 

Here are six tax resources to help you get a handle on the complexities of your nonprofit. 

  1.   IRS.gov

Although there are benefits to going straight to the source when seeking information, it’s easy to get overwhelmed with minutia at a website as large as IRS.gov. Here are a few pages specific for nonprofits. 

  •  Charities and Nonprofits
    • Newly redesigned, here you can learn the types of exempt organizations, info regarding annual filing and forms, and even sign of for free newsletters
  •  Stay Exempt
    • Here you can find the most up-to-date information regarding how to maintain your exempt status. 
  •  IRS Educational Resources
    • Sign up for webinars, find official guidance, and peruse publications, forms, and instructions. 
  1.   USA.gov

This site touts itself as the online guide to government information and services and covers everything from “About the USA” to “Voting and Elections.”

  •  Money and Credit
    • Here you can learn the basics about taxes and more. 
  • Taxes
    • Learn about who pays taxes and how much, where to find help, and details by state. 
  • Tax Reform
    • Find the latest information on the changes made to the tax code in 2018.
  1.   National Council of Nonprofits

This nonprofit is designed to help other nonprofits navigate a multitude of issues surrounding charity work. 

  •  Tools and Resources
    • The resources here range from tax resources to a job board. If your looking for in-depth reporting on the latest in the nonprofit world, this is a fabulous resource. 
  • Tax Exemption
    • If understanding what it means to be tax exempt if what you’re looking for, this link is a library of information. Walk through a series of blogs on how to start your own nonprofit or what to do if your nonprofit status is revoked
  •  Find Your State Association
    • Search by state for locals tax information and rules. 
  1.   Guidestar.org

At Guidestar, you can learn about everything from proper executive compensation to white papers on the Financial Health of the U.S. Nonprofit Sector. 

  •  Nonprofit Information
    • Here you’ll find specifics for nonprofits only. Mostly white papers, Guidestar goes in depth on topics you can use.
  •  Foundation Information
    • Specifics for foundations, and how they differ from other charities, can be found here. 
  1.   Grantspace

Grantspace has links to live training and webinars on all kinds of topics. If you’re the type to want to roll up your sleeves and get involved, Grantspace may be for you. 

  •  Starting a Nonprofit
    • From special events, to online training, to face-to-face assistance, you can find many resources here to help you get started.
  • Training
    • Grantspace also offers additional training for nonprofit startups. 
  1.   File990.org

File990 makes everything simple. First, choose the correct form you’ll need for your charity based on your annual revenues. 

  •  Form 990-N
    • If the receipts for your nonprofit are less than $50,000 for the year, there is only one form you’ll need: Form 990-N. The 990-N, also known as the Electronic Notice or e-Postcard, is the simplest way to file taxes for your nonprofit. It’s only available online and requires only the most basic information about your 501(c)(3).
  • Form 990-EZ
    • If your charity has receipts greater than $50,000 for the year but less than $200,000, you may file the 990EZ. This form is only four pages long. Although it requires more information than the e-Postcard, you aren’t required to file the full 990. 
  • The Full Form 990
    • If your charity has receipts greater than $200,000 or has total assets of $500,000 or more, then you’ll need to file the full form 990. A few elements required on this form include a full executive organizational summary, a checklist of required schedules, details pertaining to governance, management, and disclosures, compensation paid to officers and employees, and a full statement itemizing revenues, expenses, balances, reconciliation of net assets, and financial statements and reporting.

These resources are trusted, accurate, and up-to-date. Here at File990, we are constantly working to find ways to help nonprofits find the resources they need for tax preparation. Tax resources don’t have to be cryptic or hard to find. 

For more information about how File990 can help your nonprofit file annual taxes, you can contact us here. We’re here to make tax filing for nonprofits simple, accurate, and on time. Contact us today!