Nonprofit Tax Compliance & Governance Prompt

Our nonprofit client wants to optimize their tax position and strengthen governance and compliance. Create a nonprofit compliance and governance plan.

Include: (1) Tax exemption status – are they still qualified for 501(c)(3)? Compliance issues? (2) Unrelated business income tax – do they have activities triggering UBIT? (3) Form 990 accuracy – is annual Form 990 complete and accurate? Audit risk? (4) Governance best practices – board structure, conflict of interest policies, oversight? (5) Restricted fund accounting – are restricted gifts accounted for properly? (6) Donor reporting – are donor reporting and stewardship requirements met?

Include Form 990 review checklist and governance best practices summary. Manage compliance risk.