Is it necessary for nonprofit organizations to examine their policies every year? Changes that impact the organization, both internal and external, recommend an annual policy review. Here are three types of changes that nonprofit boards should monitor.
If you're an officer or on the board of a nonprofit organization, you may wonder about the tax requirements that apply to your group.
Generally, an organization will not owe taxes if two things are true:
- It has registered as an exempt nonprofit organization with the IRS, and
- It has no business income from activities unrelated to its exempt purpose.