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.

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Friday, November 30, 2007

New stats and trivia

Well, kinda new. The IRS release its Fall 2007 Statistics of Income Bulletin. The "new" info is from tax year 2005, here is a taste:

  • A look at private foundations: The number of private foundations that filed Form 990-PF remained nearly the same between tax years 2003 and 2004,while the number of nonexempt charitable trusts treated as private foundations that filed the return increased by 12 percent. In tax year 2004, private foundations distributed $27.6 billion in contributions, gifts, and grants and other outlays for charitable purposes, while nonexempt charitable trusts distributed $314 million.
  • Recent data on charities: For tax year 2004, nonprofit charitable organizations exempt from income tax under Internal Revenue Code Section 501(c)(3) filed more than 276,000 information returns, an increase of 5 percent from 2003. These organizations held more than $2.0 trillion in assets, a real increase of 5 percent from the previous year and 52 percent over the past decade.

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