As we take some time this Thanksgiving week to reflect on what we’re thankful for, we also should examine what it is that makes us likable to other people. We love this infographic from silicon valley wiz Guy Kawasaki, an excerpt from his new book Enchantment.
Of course this kind of thinking could be used in a professional as well as personal situation, but more importantly we think this is terrific food for thought when it comes to fundraising. Knowing the basics of human interaction like this is of course one of the basic requirements of success for any major fundraiser, so take the time and review this a little bit. You might be surprised at what elements you’ve forgotten about or perhaps become a little lackadaisical with as you age.
Everyone thought things were business as usual until an announcement from the Internal Revenue Service on June 8, 2011. They expressed the melancholy news that 275,000 nonprofits lost their tax-exempt status due to the fact that they failed to file the proper paperwork that is 14% of all the nation’s nonprofits.
According the Chronicle of Philanthropy the new law that was passed in 2006, was established ‘to keep better track of groups that have tax-exempt status, cause many to become delinquent on filing. The law gave organizations with annual revenue of $25,000 or less three years of tax-filing deadlines to comply. Organizations must file annual informational returns, though small groups must simply provide a few basic pieces of information.’
One thing that this writer questions is what happens to all the donors that donated within the last three years to the nonprofits that lost their tax-exempt status? According to the IRS ‘donors to those organizations cannot claim a charitable deduction for gifts to the groups after they makes the list official.’
It is apparent that the responsibility of having a small nonprofit, you must also file the proper paperwork or talk with someone that knows about those things.
In Mark and Phil’s small hometown there are 15 nonprofits that lost their status and in all of New York State there were 1,092 nonprofits. Check out and see if your favorite nonprofit is on the list.
“During the past several years, the IRS has gone the extra mile to help make tax-exempt groups aware of their legal filing requirement and allow them additional time to file,” said Douglas Shulman, the Internal Revenue Service Commissioner, in announcing the revocations. “Still, we realize there may be some legitimate organizations, especially very small ones, that were unaware of their new filing requirement. We are taking additional steps for these groups to maintain their tax-exempt status without jeopardizing their operations or harming their donors.”
There is a light at the end of the tunnel, Getting Reinstated. Any organization that was mentioned on the list or was notified can make a request to the IRS to have their tax-exempt status reinstated retroactively and it should only cost about $850 or less depending on the size of the nonprofit and if they can prove that they had a good reason not to comply the law.
Photo by saturnism on Flickr