Examine Your Activities

The IRS recently warned that charities should be cautious to examine their new activities, especially income-producing activities, to confirm (a) the activities fit within the charity’s exempt mission, and (b) whether such activities constitute unrelated business income subject to tax. IRS officials stressed that good board oversight and governance is crucial to properly vetting issues related to new activities. This is sound advice – we would also add that it is important to vet new and old activities with your trusted tax adviser. 

Thumbnail for version as of 07:25, 13 June 2009  Is it time to put your charity’s activities under the microscope? 

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