Friday, June 10, 2011

275,000 nonprofits lost their tax exempt status - find out who

Check the status of your organization now!

Dear Friend of GuideStar:

The IRS has published the first Automatic Revocation of Exemption List. It lists approximately 275,000 nonprofits whose tax-exempt status has been revoked because they failed to file a Form 990, 990-N, 990-EZ, or 990-PF for three consecutive years.

What does publication of the list mean to you?

If your organization appears on the list, you must now must file a federal income tax return and pay federal income taxes. If you previously could accept tax-deductible contributions, you no longer can do so.

If your organization is not on the list, technically you don't have to do anything. This a good time, however, to reach out to your donors, funders, and other constituents and assure them that you are in good standing with the IRS. You may also wish to suggest that your supporters consult the list to ensure that the other nonprofits they give to are still exempt.

We have already incorporated the revocation data into our database and products, and we will automatically update them when the IRS adds new organizations to the list each month.

We have also noted other information about IRS status for every nonprofit in our database. These messages appear on the nonprofit profile pages.

You can continue to rely on GuideStar for the accurate, up-to-date nonprofit data you need to make informed decisions.

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