Non-Profit Finance 101 Staying in the Black Special Considerations In general, non-profit organizations may not: Generate profit but may hold funds in reserve to reinvest in the organization. Provide dividends to individual shareholders. Engage in activities deemed anti-competitive.
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Staying in the Black
Bank statements (past/current)
Annual financial statements (past/current)
Audited financial statements (past/current)
Financial policies and procedures
Financial records and formsImportant Information the Financial Executive Should Have
There are 23 exempt classifications under the Internal Revenue Service code.
As a “business league,” NADL and its Components can qualify for exemption under Section 501(c)(6) of the IRS code.
As 501(c)(6) organizations, NADL and its Components may not receive charitable contributions.Tax Exemptions