Special Announcement: Link to Check Your Nonprofit Status Against May 17 Deadline

Are you already a 501 c 3? If so, are your 990 filings up to date? Up to 5,797 Iowa nonprofits may have their tax exempt status revoked on May 17 without current 990 filings. To check if your department (or other nonprofit you work with) falls under this risk, follow these steps:

The Urban Institute’s National Center for Charitable Statistics has developed a simple tool to find out if you need to file. Here’s how in 3 easy steps:

(1) http://nccsdataweb.urban.org/PubApps/statePicker.php?prog=epostcard&display=state

(2) Select Iowa and then enter your nonprofit’s name. If there is an alert “FILE NOW” by your nonprofit’s name, then

(3) Determine whether a Form 990 needs to be filed by May 17 (This will depend on whether the nonprofit’s fiscal year is a calendar year.)

For more information about this new federal filing requirement, see the Frequently Asked Questions About Automatic Revocation section of the IRS Website:  

http://www.irs.gov/charities/article/0,,id=221600,00.html 

 

March 1: Another Springtime Filing Reminder

 

A flip of the Our Iowa calendar this morning brings bright green imagery as a reminder that spring is just around the corner. March 1 is also noted as the start of the Girls State High School Basketball Tournament. March 1 also serves as an important reminder for nonprofit corporations in the State of Iowa of a basic task that needs completion each odd-numbered year.

If you're not sure if your fire association is currently registered as an Iowa nonprofit corporation, you may search the Secretary of State's website for any name under which you might be registered here. If you are registered, this link will also provide you with details on who is currently receiving your association's correspondence from this office - your Registered Agent. If the name of your Registered Agent needs to be updated, click here for more information.

As explained on the Iowa Secretary of State website:

All nonprofit corporations organized within the State of Iowa or authorized to do business within the State of Iowa must file a Biennial Report with the Secretary of State between January 1 and March 31 of each odd-numbered year. Each corporation's registered agent will receive a Biennial Report notice in early January. There is no fee for filing a Nonprofit Corporation Biennial Report.

If you are a registered Iowa nonprofit corporation, the Biennial Report you will receive in the mail in January 2011 will take just a few minutes to complete. It's of particular importance to file. Failure to do so will result in your association being administratively dissolved in the State of Iowa without notice. 

Being registered as an Iowa nonprofit corporation is a key first step if you're considering applying for 501 c 3 status with the Internal Revenue Service. 

Go ahead. If you're already registered as an Iowa Nonprofit Corporation, mark your calendar now to make sure you file your Nonprofit Corporation Biennial Report by March 31, 2011. 

Want to chat more about Iowa registration and/or 501 c 3 status? Share your experiences through the comments section below or contact dawnsh@gmail.com. Have a great March!

501 c 3 Important Application Filing Changes

Is your department still considering organizing your association as a 501 (c) (3)? As you've heard in training sessions, doing so is a natural extension of your existing commitment to thorough and comprehensive training and doing whatever it takes whenever it takes to honorably serve your communities. The status also opens doors for additional funding possibilities. In Iowa, filing involves being registered with the Iowa Secretary of State's office, obtaining an EIN number, as well as filling out IRS Form 1023 with detailed attachments and supplemental info.

Changes are coming in 2010 to the way the filing process works for charitable organizations with the IRS. Currently, charities with an average annual revenue of under $10,000 submit a $400 fee to the United States Treasury with their application. Charities with higher average annual revenue submit an $800 fee.

Later this year, that fee will be decreasing to $200 for all charities filing with the IRS, regardless of average revenue as long as CyberAssist software is used in the filing. If the software is not used, the filing fee will be $850 for all charities. An exact date in 2010 has not yet been set for the release of the software. When that date is confirmed, it will be posted to the IRS website through the link above.

Already have your 501 (c) and have questions about the redesigned 990 form you need to file each year? Take in the free mini courses on the IRS website:
http://www.irs.gov/charities/article/0,,id=166625,00.html

FlashPoint offers not-to-exceed fees for assistance with 1023 paperwork. The fee includes project management of the process and availability to assist with questions that may come up from the IRS after filing. The fee depends upon how many steps leading up to and including the 1023 you need assistance with. For more information, contact dawnsh@gmail.com.