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Nonprofits May Lose Tax-Exempt Status

The IRS has implemented the requirement for little known form that could jeopardize the tax-exempt status of over 200,000 nonprofits that operate on an annual budget of $25,000 or more.

 

Suzanne Coffman, a spokeswoman for GuideStar which tracks data on nonprofits says, “The nonprofits in your backyards, some of them are going to be gone.”

 

Form 990-N is now required for smaller nonprofits, per the tax code revisions passed by Congress three years ago. It’s not clear why these 200,000 charities have not submitted the form and thereby have put their tax-exempt status in question. Without this status, donations are not tax deductible, which could hurt the nonprofits.

 

– Source:  Associated Press 05/16/10.

 

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Now more than ever we’re bombarded by darkness in media, movies, and TV. Movieguide® has fought back for almost 40 years, working within Hollywood to propel uplifting and positive content. We’re proud to say we’ve collaborated with some of the top industry players to influence and redeem entertainment for Jesus. Still, the most influential person in Hollywood is you. The viewer.

What you listen to, watch, and read has power. Movieguide® wants to give you the resources to empower the good and the beautiful. But we can’t do it alone. We need your support.

You can make a difference with as little as $7. It takes only a moment. If you can, consider supporting our ministry with a monthly gift. Thank you.

Movieguide® is a 501c3 and all donations are tax deductible.


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