CAN's finance and accounting programs are designed to to measurably improve the accuracy, consistency and clarity of financial reporting, thus reducing time and financial costs and improving accountability and public trust in California's nonprofit sector.

Another goal of this program is to promote a dialog and create a community of nonprofit finance professionals so please post questions and comments!

Monday, April 23, 2007

Support Schedule for Advance Ruling Period

For those nonprofits that have been around a few years, have you filed your form 8734? Instructions to the form are here and the form is here (both links take you to pdf's). This form needs to be sent in at the end of your advance ruling period in order to prove that you are in fact a charity and not a private foundation.

Once submitted you will get your final determination letter from the IRS, keep them in a safe place and remember where you put them! CAN has had several calls recently from nonprofits that have been around for a while and can't find the letters. One then has to call the IRS and see if they can get you a copy, probably a lengthy and tedious process.

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