• Home
• About Us
• Article Archives
• Ready Reference
• Ask the Editor
• Bookstore
• Subscribe
• Subscriber Login

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.

Full Text

Article Archives >> Ready Reference >> July 16 - August 15, 2008