Transparency in Financial Reporting - Nonprofits publicly demonstrate their accountability through publicly available financial reports. Our services help them to understand their legal obligations and to present financial information accurately to both regulators and the public.
In its first 10 years of operation, a housing organization had annual revenues under $10,000. In its 11th year, it received a three-year $75,000 grant. Unaware that it was now required to file a Form 990, the board of directors failed to do so. When the IRS assessed them with several thousand dollars in penalties, our attorneys successfully negotiated a waiver of these fines.
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