A new board member of a charitable not-for-profit organization is concerned that the NFP has jeopardized its tax-exempt status by engaging in lobbying activity to influence legislation. Explain for the board member under what conditions the NFP can engage in lobbying without jeopardizing its tax-exempt status.
Answer to relevant QuestionsWhat is an IRC Sec. 527 organization? Are these organizations tax-exempt? What filing requirements have been imposed on 527 organizations by campaign finance laws?Identify the financial statements that must be prepared by a private college or university and those that must be prepared by a public college or university.Tupper Memorial Hospital received from a donor a $50,000 contribution and a $50,000 pledge payable in one year. The donor required that the funds be used for heart research. Explain how these transactions would be reported ...Currently, the responsibilities of federal financial management policy and oversight are conducted by which government entities?What is a service concession arrangement, and why might a government choose to enter into such an arrangement? Provide examples of general capital assets that might be subject to service concession arrangements.
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