The new IRS Form 990 is a "daunting new hurdle," according to In Trust Governance Mentor Dorothy Ridings. And it's not just for the CFO to worry about, because the new section on governance involves the board.
That's why the IRS has posted 11 frequently asked questions about the new form, along with answers. We've linked to them here.
But you'll also want to take a look at the Summer 2009 issue of In Trust magazine, which includes an article on the new form.
And enjoy the rest of the summer. As you prepare for the beginning of the school year, so does the staff of In Trust. We're working on your Autumn 2009 issue, which will include the story of a school that's turned itself around after a financial nightmare.
Jay Blossom
Editor, In Trust Now
Read more about the Form 990...
Thinking about mergers and alliances
The broader nonprofit sector is looking at mergers and affiliations as a way to reduce costs and further organizational mission. The Web site onPhilanthropy explains why some nonprofits are considering joining forces.
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One way to make dashboard indicators easy to understand is to color-code them using the familiar red, yellow, and green of a traffic signal.
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The recession's impact on Christian nonprofits
The Christian Leadership Alliance recently released a report on the effect that the current economic downturn is having on evangelical parachurch organizations, denominational offices, camps, and other nonprofits.Read more...
In May, the New York Times published a letter by Dorothy Ridings (who is a longtime member of the board of Louisville Presbyterian Theological Seminary and an In Trust Governance Mentor) warning of the possible dangers of nonprofit organizations accepting donations from completely anonymous donors.
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Greensboro College offers campus as loan collateral
Greensboro College, a Methodist liberal arts school in North Carolina, has offered its entire campus and its $12 million endowment as collateral on a loan. The college owes Bank of America $16 million.
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