What: Free downloadable report, "What Automatic Revocation of Nonprofit Tax Exemptions Means for You: A Review for Nonprofits, Grantmakers, and Donors"
Who: GuideStar USA, Inc.—the leading source of nonprofit information
Why: The IRS is preparing to publish the first list of nonprofits whose tax-exempt status has been revoked for failure to file an annual return (Form 990, 990-N, 990-EZ, or 990-PF) for three consecutive years. The revocations are automatic and mandatory under the Pension Protection Act of 2006.
Publication of the first Nonfiler Revocation List will be a historic event for the U.S. nonprofit sector. As many as 321,000 organizations may be included on this initial list. The revocations will affect not only the nonprofits that have lost their exemptions but also nonprofits whose exemptions remain intact and the donors and foundations that support the revoked organizations.
To bring this issue to the attention of these varied audiences and help them begin to prepare for this sector-changing event, a new GuideStar report is available for free download from the GuideStar Web site.
Written by GuideStar staff, "What Automatic Revocation of Nonprofit Tax Exemptions Means for You: A Review for Nonprofits, Grantmakers, and Donors," concisely but thoroughly:
- outlines the forces driving the revocations;
- analyzes by organization type the nonprofits the IRS has identified as being at risk;
- defines the impact the revocations will have on different audiences; and
- lists resources where readers can get more information.
Those interested in downloading the report can do so at http://www2.guidestar.org/rxg/news/publications/revocations-april-2011-report.aspx
GuideStar, www.guidestar.org—the premier source of nonprofit data—connects people and organizations with information on the programs and finances of more than 1.8 million IRS-recognized nonprofits. GuideStar serves a wide audience inside and outside the nonprofit sector, including individual donors, nonprofit leaders, grantmakers, government officials, academic researchers, and the media.