Welcome to your daily briefing on nonprofit developments in Nebraska. Today we're covering 7 key stories including updates on nebraska nonprofit headlines, background & context. Let's dive in.
4 stories
A service from Northwest Registered Agent helps founders start a nonprofit in Nebraska while providing registered agent services that include Privacy by Default®.
For Nebraska nonprofit professionals, this filing service offers a streamlined path to incorporation with built-in privacy protections.
The Mid-Nebraska Community Foundation is accepting grant applications through its available grants program.
NE nonprofit professionals can access local funding opportunities through this regional community foundation to support their missions and programs.
ProPublica's Nonprofit Explorer provides access to millions of nonprofit tax filings released by the IRS since 2013, including executive compensation, revenue, expenses, and downloadable filings dating to 2001.
Nebraska nonprofit professionals can use this tool to benchmark executive pay, analyze peer financials, and strengthen grant applications or board reports with verified IRS data.
GreatNonprofits is a platform where users can find and review charities, nonprofits, and volunteering and donation opportunities.
NE nonprofit professionals can leverage review data and visibility on this platform to build credibility with local donors and volunteers.
Reach professionals in this market
3 stories
Form 990 is required to be made public by the filing organization on request and is indexed by ProPublica and others within weeks of filing. Sections most boards underestimate: Schedule J (top-staff compensation), Schedule L (transactions with interested persons), and Schedule O (narrative explanations that "soften" other answers). Donors and reporters read these.
Items that read fine in management's narrative often read very differently in print. Pre-filing review by a non-finance board member catches optics issues that a CFO will not.
The IRS-recommended COI policy requires (1) annual disclosure by all directors and key employees, (2) a process for review of any disclosed conflict, (3) recusal procedures, and (4) documentation in board minutes. Policies that have only the disclosure form without the review and recusal process do not satisfy the recommendation.
A weak COI policy is a Schedule L disclosure waiting to happen, and Schedule L disclosures correlate with future IRS examination selection.
Unrelated business income tax applies when an activity is regularly carried on, is a trade or business, and is not substantially related to the exempt purpose. Common surprises: corporate-sponsored events with naming rights that look like advertising, affinity credit-card royalties that include co-marketing services, and gift-shop sales of items unrelated to the mission.
UBIT exposure can cost both tax and exempt status if the unrelated business becomes substantial. The line between sponsorship (excluded) and advertising (included) is narrow and case-specific.
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