Connections

 INSIGHTS FOR NONPROFITS

JANUARY 28, 2015 
CONNECT
Director of Nonprofit
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Eide Bailly is a top 25 CPA firm in the nation, has worked with nonprofits since 1917 and currently services more than 1,600 organizations across the nation.
 
Connections is published on a regular basis to keep our clients and business friends informed of current news impacting nonprofits.

 

2014 Significant Changes to Form 990

The Internal Revenue Service (IRS) made no significant changes to the core Form 990 for 2014. There were minimal wording modifications, but nothing impacting the information being requested or the definitions used to define key terms. However, the IRS did make significant changes to Schedules A, H and L.


Read in detail about the changes in schedules for Form 990.

FY2015 IRS Tax-Exempt & Government Entities Priorities

Annually, the IRS Tax-Exempt and Government Entities (TE/GE) division shares information regarding priorities and focus for the upcoming year. For FY2015, this was issued as a Program Letter from Commissioner Sunita Lough. The Program Letter key focus areas are connected with the overall IRS Strategic Plan for FY2014-2017.

 

The Program Letter describes specific activities that will receive resource investments to allow for sharing ideas to become more innovative, efficient and more effective with an overall theme of being accountable, disciplined and transparent. Given the scrutiny this division was under during FY2014, it should be no surprise that many of the focus areas contain significant changes for how the division operates on a day-to-day basis.


 

Continue reading to learn more about the significant changes the TE/GE division is making in four major areas of focus.
Nonprofit Revenue Generation: Lessons Learned in Resourcefullness

Across four states, more than 100 submissions were received for the 2014 Eide Bailly Resourcefullness Awards and, from those, many great ideas were identified.

  1. Learn more about trends observed in this article by Beth Bird titled, Nonprofits - Mining Your Own Acres of Diamonds to Generate Revenue.
  2. Hear about the four grand prize winners' initiatives in this video.
  3. Check out our blog post on the Ice Bucket Challenge titled, Seven "Cool" Donor Outreach Characteristics of the Ice Bucket Challenge.

Deb Nelson  

 

Deb Nelson

Senior Manager, Tax
612.253.6560
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