legal nonprofts

How Nonprofits Can Win Maximum IRS and Donor Confidence

by Terry Corbell on Oct 20, 2009

As anticipated, the recession has had a profound impact on corporate charitable donations. A study released in August, 2009 showed 52 percent of surveyed companies decreased their donations to charities. A business publication, www.crainsnewyork.com , reported the LBG Research Institute study revealed the big decrease in the face of a 72 percent increase in pleas for donations. Effects from the recession combined with possible lingering  individual-donor mistrust of charities following a wave of nonprofit scandals underscore the need for intensified governance bynonprofit boards of directors. Yes, the Internal Revenue Service wants nonprofits to be more transparent, which is why the agency altered Form 990. That’s the reporting form used by all but the smallest of charities. There is more scrutiny on executive compensation, which includes incentives, deferred pay, fringe benefits and expense allowances. The IRS is also closely examining...Read More >>