Tuesday, March 31, 2020



In the United States, after a recognized type of legal entity has been formed at the state level, it is customary for the nonprofit organization to seek tax exempt status with respect to its income tax obligations. That is typically done by applying to the Internal Revenue Service “(IRS”), although statutory exemptions exist for limited types of nonprofit organizations. The IRS, after reviewing the application to ensure the organization meets the conditions to be recognized as a tax exempt organization (such as the purpose, limitations on spending, and internal safeguards for a charity), may issue an authorization letter to the nonprofit granting it tax exempt status for income tax payment, filing, and deductibility purposes. The exemption does not apply to other Federal taxes such as employment taxes. Additionally, a tax-exempt organization must pay federal tax on income that is unrelated to their exempt purpose. Failure to maintain operations in conformity to the laws may result in an organization losing its tax exempt status.

Facing bankruptcy, should the SF Art Institute sell its $50M Diego Rivera?

Vehicular Homicide Case Against MASS MoCA Director Joe Thompson Still On

Estate of Former Otis College Director Sues Otis College of Art and Design, Alleging Wrongful Termination

Why do private museums suddenly close?

“Very few artists are going to have the guts to say no to millions of dollars, because that’s what it is.”

George Washington High School Alumni Sue to Keep Mural on View

Massachusetts Attorney General Investigating MFA Boston



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