Income earned from alternative investments can create business tax liabilities for organizations that would otherwise be tax exempt. BDO can help nonprofits:
- Analyze Schedule K-1s
- Determine taxable income
- Adhere to filing requirements
It may come as a surprise that not every nonprofit is exempt from paying income taxes. We regularly review tax positions disclosed on the ASC 740-10 memorandum for our numerous nonprofit audit clients. For our non-audit clients, we help:
- Identify and research uncertain tax positions
- Draft the memorandum
- Submit to the existing audit firm
The Form 990 presents an open look inside a nonprofit organization. This transparency means that forms need to be managed for both regulatory compliance and public perception.
We monitor changes in reporting requirements and work with your organization to advise on the best options for both present and future filings.
We monitor changes in reporting requirements and work with your organization to advise on the best options for both present and future filings.
Nonprofit organizations may engage in activities that produce revenue considered to be commercial and therefore taxable. Organizations need to proceed with caution with these types of activities that may constitute taxable Unrelated Business Income (UBI).
We help nonprofit organizations:
- Comply with all aspects of UBI laws, IRS guidance and industry standard practices
- Submit accurate and timely filings
- Take a proactive approach to both current and future transactions
Nonprofit Tax Insights
Explore our most recent resources and thought leadership.