February 14, 2014
Becoming a tax-exempt nonprofit in Nevada is getting a little more tricky now that the state passed Assembly Bill 60, which will require all nonprofit groups to register with the secretary of state. According to RGJ, nonprofits with more than 15 donors will not be able to solicit tax-deductible contributions until they are in compliance with the law.
Thirty-nine states and the District of Columbia have registration laws and they are aimed at protecting residents and providing donors with information about a nonprofit, according to the National Council of Nonprofits. The council explains that not registering in these areas could increase the chance of criminal liability for fraudulent conduct.
In Nevada, the public will be able to view information about the nonprofit through a registry on the secretary of state's website and determine if it is legitimate. While it may require more work at first, there are certainly potential benefits to nonprofits once they are registered. Donors are often concerned about whether or not their contributions will be used for the appropriate cause and improving transparency by registering with the state will ease that concern.
However, as with most forms of new legislation, the rules are not always simple to understand and an organization needs to make sure it is in compliance with the laws. This could be even trickier for the smaller nonprofits that don't have the time or resources to brush up on a new regulations.
Navigating the new law easier with the right information
For nonprofits in Nevada, ANN has created a compliance toolkit that can help them prepare for and properly register with the secretary of the state. The alliance has already trained more than 1,000 staff members, including lawyers and accountants, since the law took effect on Jan. 1.
The toolkit features the most recent 49-minute training webinar replay video, the final AB 60 text and approved regulations, sample scripts for oral/verbal and written solicitations, and all of the resources a nonprofit needs to ensure they are in compliance. It costs $47 to download but is $20 off to organizations that are members of ANN. The toolkit can be purchased by clicking here.
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