Article Archives >> Ready Reference >> July 16 - August 15, 2008
Preview of Article:
New “Core Form” 990 Presents
Revised Look for Nonprofit Finances – Part IV
IRS asks about the existence of good governance policies
even though they are not required by the Internal Revenue Code
Excerpt
Lines 9 a and b.
These lines ask whether the reporting organization has local chapters, branches lodges, units or similar affiliates over which it has legal authority to exercise supervision and control (whether or not subject to a group exemption) and whether there are written policies governing the activities of the affiliates “to ensure their consistency with the activities of the organization. If not, the organization must explain how it ensures consistency. The instructions note that a central organization on a group exemption is required to exercise oversight over its subordinate units as a condition of group exemption.
Article Archives >> Ready Reference >> July 16 - August 15, 2008
What our readers say about Nonprofit Issues
Once again you've tackled a tricky question and explained it so we all can understand the issue.--M.V.
Thank you for your informative and keen advice on nonprofit matters. I believe its a unique and concise place to get answers to this often wispy area called nonprofit. --R.T.
