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What's News on MACAA.net
- MACAA Membership '08
Over the past 27 years, MACAA has become a strong community arts network because of support and participation by organizations like yours. Your new or continuing membership will keep us strong.
MACAA Membership Benefits
*Professional Development Retreat
*Free Agency Consultations and Site Visits
*Resource Information
*Grant Review services
*Topic specific MACAA "Minis"
*Basic Website Packages
*Inclusion of events on macaa.net calendar and Missouri Life Magazine
*Periodic Newsletters of State and National Events and Opportunities
We're looking forward to serving you in FY'08. Thanks for your support!
For a printable MACAA membership form, click here: extra.macaa.net/download/0/0/zJFRA/file-downloads.html
- ATTN: Tax Law Changes Affecting Nonprofits
Pension Protection Act of 2006 contains numerous changes to the tax law provisions affecting tax-exempt organizations.
New Requirement for Small Nonprofits
Small nonprofit organizations - those with gross receipts of $25,000 or less - will be required to file Form 990-N starting in 2008. Also known as the e-Postcard, the return must be filed electronically. Organizations that fail to file for three consecutive years will lose their tax-exempt status.
IRS will notify small nonprofit organizations of this new requirement. If you believe the IRS may have an incorrect address for your organization, you should file Form 8822 (Change of Address - complete Parts II and III; www.irs.gov/pub/irs-pdf/f8821.pdf).
Form 990-N will be due at the same time as Form 990 and Form 990-EZ. The filing deadline is the 15th day of the 5th month after your fiscal year ends. For example, if your fiscal year ends December 31, 2007, then your Form 990 is due on May 15, 2008. If your fiscal year ends on June 30, 2008, then the deadline is November 15, 2008.
IRS Form 990, Form 990-EZ, and Form 990-N Return of Organization Exempt From Income Tax are annual informational returns submitted by tax-exempt organizations. These forms provide the public with financial information about tax-exempt organizations and are used by federal and state government agencies to ensure that organizations do not abuse their tax-exempt status.
Additional Changes Affecting Nonprofit Organizations -
St. Louis Volunteer Lawyers and Accountants for the Arts' August newsletter, ARTS Law Memo, provides an overview of additional changes affecting tax-exempt organizations (listed below). You may review the newsletter at vlaa.org/documents/990-N.pdf.
-New requirement to report unrelated business income tax (Form 990-T)
-New tax break for some IRA owners
-New donor record keeping requirements
-Discussion draft of redesigned Form 990 released (first major overhaul of the form in 25 years!)
IRS Resources
The Charities and Nonprofits section of the IRS website - www.irs.gov/charities/index.html provides tax information for nonprofit organizations, including life cycle of an exempt organization, Good Governance Practices discussion draft, Frequently Asked Questions, free online workshop, collection of links to state government, link to the current edition of EO Update, a periodic e-newsletter, and much more.
IRS also offers a friendly online tutorial site (www.stayexempt.org) with friendly cartoon characters leading you through the interactive courses.
- Arts Advocacy Made Easy
Americans for the Arts has made sending an e-mail easier by creating an advocacy website at CAPWIZ. To send an e-mail to your Representative, just follow these steps:
1. Log onto capwiz.com/artsusa/dbq/officials/
2. Enter your zip code in the box to access your Member of Congress
3. Customize the message to fit your organization
4. Fill in the personal contact information (this will prove that you are a constituent)
5. Click the "send message" button
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| All materials and articles posted on the Missouri Association of Community Arts Agencies' website (macaa.net) represent the individual positions of their authors/artists and not necessarily the position of the Missouri Association of Community Arts Agencies. All materials posted on this site are copyrighted and may not be reproduced without the express, written consent of the copyright owner. Links to other sites from MACAA's website are provided for the convenience of the user. MACAA does not control, review, monitor or endorse the contents of any site linked to macaa.net. A link or reference to an individual or organization on this site is not intended as an endorsement. MACAA cannot edit content provided by a third party linked from the MACAA website. Information on the World Wide Web changes continually. We urge all users of this site to conduct their own evaluation of the products, services and information furnished here or contained in linked sites to accept responsibility for their assessment.
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