article thumbnail

ASU Lodestar Center Blog: Lost Your Tax-Exemption? What Next ?

ASU Lodestar Center

4] If your organization’s tax-exempt status is automatically revoked, it is no longer tax exempt under federal law, and may be required to file one of the following federal income tax returns and pay any applicable income taxes: Form 1120, U.S. You will receive a notice from the IRS in the form of a letter, Notice CP120A. [2]

Files 71
article thumbnail

ASU Lodestar Center Blog: Research Friday: What It Takes to Lead.

ASU Lodestar Center

The study reveals that current leaders in the local nonprofit sector believe the skills most needed in the nonprofit workforce are financial literacy, communication (verbal and writing skills), knowledge of laws pertaining to the nonprofit sector, information technology, volunteer management, and donor cultivation.