Not For Profits
Non-profit organizations are required to file some type of annual information return (Form 990, 990-EZ, 990-N, 990-PF or 990-T). 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.
The BCS organization offers experience in preparing non-profit tax returns for various entities including:
- religious organizations
- public charities
- hospitals
- private colleges and universities
- business leagues
- social clubs
- voluntary employees’ beneficiary associations
- cooperatives
- museums
- country clubs
- supporting organizations
Services we offer:
- Preparation of Form 990 – Return of Organization Exempt from Tax and all applicable schedules
- Preparation of Form 990PF-Return of Private Foundation
- Preparation of Form 990T-Exempt Organization Business Income Tax Return for Unrelated
Business Income - 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), etc.