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Article Archives >> Ready Reference >> May 16-June 15, 2008

Preview of Article:

New “Core Form 990” Presents
Revised Look for Nonprofit Finances – Part II
Organizations can be expansive on program accomplishments,
will face new questions about tax compliance, governance issues

Excerpt
Line 4 of Part III on Page 2 of the new “Core Form,” the Statement of Program Service Accomplishments, is the spot where even the IRS agrees an organization should promote its accomplishments.

The form asks for a statement of accomplishments for the three largest program services, measured by expenditures, but the organization can add more on Schedule O.  Don’t do what the preparer of one organization’s return did several years ago when the statement of program service accomplishments included only one word – and that word was “small.”  It was probably better than answering “none,” but it would not encourage anyone to support the organization.

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Article Archives >> Ready Reference >> May 16-June 15, 2008