20 Frequently Asked Questions about Nonprofits

In BriefIt is important for CPAs in all fields to understand nonprofit work. Many CPAs are asked to volunteer for the boards of such organizations, which may be organized primarily as corporations and trusts. This article addresses practical concepts related to the formation and maintenance of a nonprofit corporation, the various tax benefits it can receive and offer to donors, and the effects of the recently enacted New York Non-Profit Revitalization Act.

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