Not For Profits

• Preparation of Application for Exemption
• Preparation of Form 990 – Return of Organization Exempt from Tax
• Schedule A and Schedule B (when applicable)
• Preparation of Form 990PF-Return of Private Foundation
• Preparation of Form 990T-Exempt Organization Income Tax Return for Unrelated Business Income
• Preparation of Federal Applications for Nonprofit Status
• Preparation of Application for License to Solicit Contributions
• Registration with State of Tennessee Charitable Solicitations Division
• Advising clients regarding disclosure requirements for tax exempt entities
• Instructing and advising clients on the various ways to avoid unrelated business income tax
• Assisting clients in determining the type of non-profit they wish to be: Supporting organization, public charity, private foundation (operating and non-operating)

Non-profit organizations are required to file some type of annual information return (Form 990, 990-EZ, 990-N). Typically, there is no tax liability for a non-profit entity; however, there are certain pitfalls where a non-profit might incur tax. At BCS, we consider it our responsibility to advise and help our non-profit clients avoid these pitfalls. There are a myriad of IRS rules and regulations in the non-profit arena. We strive to stay abreast of these ever-changing laws and keep our clients informed. Many non-profits are required to have annual audits in order to be eligible for certain government grants. The BCS Tax and Audit Departments work hand-in-hand to ensure you have access to these different yet related areas of expertise.

Services we offer: