Though frequently used interchangeably, the terms "tax-exempt organization" and "nonprofit organization" do not carry the same legal definition. Nonprofit enterprises are those that do not distribute earnings in the form of dividends or distributions, so while all tax-exempt organizations are nonprofit, not all nonprofit organizations are necessarily tax-exempt. This work provides a comprehensive look at the federal Internal Revenue code governing tax-exempt status, carefully detailing the criteria specified in the code and related Treasury Regulations. Also outlined are the presribed procedures for filing for tax-exempt status. Robert N. Sughrue and Michelle L. Kopnski present a thorough discussion of the various types of tax-exempt organizations and the characteristics unique to each. Sections 501(c), 521, 527, and 528 of the Internal Revenue Code are closely analyzed, and the organizational tests of 501(c)(3) institutions are provided. In addition, accounting systems for tax-exempt organizations, internal controls, and reporting requirements are also covered. Among the other topics addressed by Sughrue and Kopnski are unrelated business taxable income, private foundations, financial considerations in tax-exempt and other nonprofit organizations, and financial considerations and practical applications. Students and professionals in the fields of finance, investment, accounting, and law will find this work to be a useful reference tool, and academic, public, and law libraries will consider it a worthwhile addition to their collections.
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Book Description
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About the Author
ROBERT N. SUGHRUE is Manager of Fiscal Affairs for The Pittsburgh Research Institute in Pittsburgh, Pennsylvania.
MICHELLE L. KOPNSKI is an attorney with Springer, Bush, and Perry in Pittsburgh.
MICHELLE L. KOPNSKI is an attorney with Springer, Bush, and Perry in Pittsburgh.
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
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Any analysis of complex subject matter requires the analyst to have, at a minimum, a general understanding of the basic terminology relating to that subject. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
total periodical costs, gross advertising income, disregarding rent, rental income attributable, excess taxable income, private foundation classification, average adjusted basis, exempt recognition, total income attributable, average acquisition indebtedness, direct advertising costs, outstanding principal indebtedness, unrelated business taxable income, lobbying nontaxable amount, taxable income attributable, exempt purpose expenditures, readership costs, allocable part, key district director, unrelated trade, membership receipts, other disqualified persons, private foundation status, exempt function income, organizational test Key Phrases - Capitalized Phrases (CAPs): (learn more)
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Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Any analysis of complex subject matter requires the analyst to have, at a minimum, a general understanding of the basic terminology relating to that subject. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
total periodical costs, gross advertising income, disregarding rent, rental income attributable, excess taxable income, private foundation classification, average adjusted basis, exempt recognition, total income attributable, average acquisition indebtedness, direct advertising costs, outstanding principal indebtedness, unrelated business taxable income, lobbying nontaxable amount, taxable income attributable, exempt purpose expenditures, readership costs, allocable part, key district director, unrelated trade, membership receipts, other disqualified persons, private foundation status, exempt function income, organizational test Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Credit Account, Debit Account, Minutes Copying, Minutes Learning, Minutes Preparing the Form, Sending the Form, Record Keeping, Skyview Research Institute New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
Citations (learn more)
This book cites 2
books:
- Tax-exempt charitable organizations by Paul E Treusch on page 37, and Back Matter
- Law of Tax-Exempt Organizations: 2006 Cumulative Supplement by Bruce R. Hopkins in Back Matter
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