Nonprofit

OHIO UPDATE – Supreme Court Decisions and Legislative News

Posted on in Business, Employment, News, Nonprofit, Real Estate
OHIO UPDATE – Supreme Court Decisions and Legislative News

NEW REAL ESTATE TAX BREAKS FOR COMMERCIAL PROPERTY Effective March 28, 2017, a new real estate tax exemption will be available for industrial and/or commercial real estate which is under development. The exemption is intended to benefit properties that have not yet, but will be, developed or redeveloped with new construction of commercial or industrial buildings. […]

OHIO NONPROFIT NEWS

Posted on in News, Nonprofit

Two Ohio court decisions have recently come to attention with regard to nonprofit organizations. One decision ruled that a grant making organization wishing to enforce any restrictive terms of the grant in the future must continue to exist as an entity (Asia Pacific Futures Research Symposium Planning Committee v. Kent State University, et al., 2016 […]

Applications for Property Tax Reductions Due March 31

Posted on in Business, News, Nonprofit, Real Estate
Applications for Property Tax Reductions Due March 31

New tax values for Cuyahoga County residential properties have been published and values are up. The same holds true for commercial properties. Property owners can apply to county Boards of Revision and potentially reduce the county’s valuation of their property. Learn more in Dana Rose’s advisory, “Applications for Property Tax Reductions Due March 31.” 2016 – […]

The Duties of Charity Directors

Posted on in Nonprofit, Publications
The Duties of Charity Directors

The new year is a good time to remind charities and their directors of the four basic fiduciary duties owed by a director to the charity in connection with serving on its board of directors: Duty of Care; Duty of Loyalty, Duty of Compliance, and Duty to Oversee Finances.  2015 – The Duties of Charity […]

Resurrection of Tax-Exempt Status for Organizations Failing to File Returns

Posted on in Nonprofit, Publications

The Internal Revenue Service has issued easier procedures for a tax­exempt organization to resurrect its tax­exempt status which has been revoked due to the organization’s failure to file its informational tax return (Form 990) for three consecutive years. This easier procedure applies to organizations which file informational return Forms 990­N (gross receipts of $50,000 or […]