#Tax day.

#April 15 is a date that most Americans know as the date taxes are due. If you haven't yet filed, now is the time.

For those in the #nonprofit sector, if your fiscal year follows the calendar year, your 'tax date' is #May15. If you have a different fiscal year, find and know your tax date. (It's the 15th day of the fifth month after the end of your fiscal year.) Here are some keys to remember as your tax date draws near:

✔ Identify an #accounting partner. All #nonprofits are encouraged to have four #professional #partners -- accountant, attorney, banker and insurance agent. Now is the time to identify and lean into your accounting partner to help guide you in all things 990.

✔ Ensure your nonprofit files the proper #990. Go to https://tinyl.io/AdMJ to gather the data and learn all about filing requirements. There are many versions of a 990 -- a 990-N postcard for gross receipts less than $50,000; a 990-EZ for gross receipts less than $200,000 and assets less than $500,000; and a full 990 for all the rest.

✔ Gather the #data. 990's are the #reporting tool that #taxexempt organizations use to report annually to the IRS about their exempt activities. The 990-EZ and 990 include information about the #composition of your #board, your fiscal controls, your income, your expenses, and your activities. Make sure you know what information you need and be ready to provide it to your 990 #preparer.

Running a nonprofit is running a #business. Make sure the business of filing your 990 is done #accurately and on time. Have questions? CDP is here to help.

-Mindy Muller, CFRE, President/CEO of CDP

#communitydevelopmentprofessionals #organizations #development
#reporting #accountability #nonprofits #ministries #nonprofit #transparency