Monday, July 11, 2011

350 Boise Nonprofits Have Tax Exempt Status Revoked

Posted By on Mon, Jul 11, 2011 at 9:12 AM

The Internal Revenue Service has brought the hammer down on more than 1,400 Idaho nonprofits, revoking their tax exempt status because the organizations failed to file required paperwork.

A new IRS rule requires nonprofits that collect less than $25,000 annually to notify the federal government each year they are still operating. If three years go by without notification, a nonprofit's tax-exempt status can be revoked. Without a tax-exemption 501(c)(3), nonprofits are not allowed to collect charitable donations.

In the Boise area, more than 350 nonprofits are on the list of agencies that had their tax-exempt status revoked. Included on the list were two American Legion posts, the Idaho Folklore Society, the Idaho Senior Citizens Lobby, Ride Idaho and the Zonta Club of Boise.

Regaining tax-exempt status requires organizations to start at the beginning of the process, as if they were applying for the first time. The IRS requires nonprofits to send detailed information on the organization's purpose and its conflict of interest policies.

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