This is Why Reporting Matters

Not for profit groups ("non-profits"), like Alpha Phi Omega, are among some of the least regulated groups in America. Think about it. Chapters, for example, must file a tax "postcard" with the IRS each year. In some states they must also register with the Attorney General's office in order to solicit donations. Otherwise, for most chapters, there is little more to do to keep right with the government. However, some states are beginning to crack down to ensure non-profits are completing what few requirements exist. The article below discusses recent developments in state enforcement of non-profit regulation with the help of the IRS. (It's also a shameless plug for my future employer, but that's beside the point.)

http://www.dinslaw.com/files/Publication/5d66e1aa-137d-47e4-b03a-0c6ef28d2f76/Presentation/PublicationAttachment/cb7bb74c-b232-42d1-9005-0d350978a878/BNA%20-%20Christopher%20%26%20Callan.pdf

One other word of caution to all the chapters out there. Be sure to file your tax "postcards." The IRS recently began eliminating tax-exempt status of non-profits that had failed to file the proper return at least three years in a row. To see if your group was eliminated, head to the following: http://www.irs.gov/charities/article/0,,id=239696,00.html?portlet=7

YiLFS,

Josh

Section 67 Finance Chair