501c3 Compliance

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Taxes

501c3 Organizations must file the 990-N postcard in order to retain their 501c3 Status.

Generating Income

Earmarking Funds

See this article for details: http://en.allexperts.com/q/Nonprofit-Law-2266/2010/4/earmarked-funds-individual-project.htm

  • Funds may be earmarked on behalf of the donor and the association can make every attempt to honor the earmarking, however the use of all funds remains with the association.
  • Association should never earmark funds as being for a person, only for a cause \ project.

Notes for Donors

These are notes that Donors may be interested in, but do not effect the organization. It's the tax payer's responsibility to accurately assign a dollar value for any item they are claiming as a charitable contribution on their taxes

  • Must have a receipt for any item, for any value
  • IRS may reject an item valued +$500 if it doesn't have a qualified appraisal document with it. LINK

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