325,000 small nonprofits could lose tax-exempt status
Because of change in federal law, the IRS could revoke the tax-exempt status of 325,000 of the smallest nonprofits in the U.S., the Chicago Tribune reported Sept. 12 (see tax-exempt status story). Nonprofits with annual income below $25,000 did not have to file annual returns with the IRS before 2006 but must file this year under a law that took effect in 2007. The IRS gave nonprofits three years to comply, requiring them to file returns for 2007, 2008 and 2009.
Knight invests in digital technology to build community
The John S. and James L. Knight Foundation will give over $10 million in the Charlotte region to help people connect to the digital world and strengthen an “improved and engaged” community, the Charlotte Observer reported Sept. 13 (see digital community story).
New Jersey nonprofits hurting
As demand for their services rises, nonprofits and charities in New Jersey still are hurting from declining donations and cuts in federal funding, The Star-Ledger in Newark, reported Sept. 10 (see New Jersey nonprofits story).
Alumni groups at Mississippi universities increase fundraising
Alumni groups at some public universities in Mississippi are stepping up their fundraising in the face of cuts in state appropriations to the schools, the Clarion Ledger in Jackson, reported Sept. 12 (see university fundraising story).