Alpha Free Education for Girls in Africa Income Tax Pitch

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ymk9328

Business Finance

Description

Think of a cause or issue about which you are passionate.

How could a nonprofit further this cause?

What steps would you have to take to form a nonprofit to support the cause you have chosen?

What kind of nonprofit would be the most useful for this mission?

Why?

Write a mission statement for this new nonprofit. Your mission statement should adhere to the requirements for application to, and approval from, the Internal Revenue Service so that you will be approved as the type of nonprofit you identified above. Your mission statement should be specific enough to be approved by the IRS yet broad enough to allow your organization to grow and expand with time.

What kinds of activities might your organization engage in to raise money for your cause?

Will any of the activities you use to raise money create Unrelated Business Income?

If so, what are the additional requirements this income will create?

What kind of tax return will you be required to file?

Who will file the tax return?

Who else will be involved in this organization with you?

You will need to use resources outside of the power points to answer these questions completely. There are many resources available on the internet that are designed to aid in the startup of a nonprofit. Be sure to consider the reliability of the source. Feel free to be creative.

Please write a summary of the above information presented as a business proposal to an investor. “Pitch” your idea to gain support. Spelling, grammar and punctuation count.

Please submit this assignment through Canvas, being sure to include a source page. This is your chance to be creative in Tax 2. Enjoy!

Unformatted Attachment Preview

Non Profit Assignment ACT 4495 Name __________________________________________________________________________ Think of a cause or issue about which you are passionate. How could a nonprofit further this cause? What steps would you have to take to form a nonprofit to support the cause you have chosen? What kind of nonprofit would be the most useful for this mission? Why? Write a mission statement for this new nonprofit. Your mission statement should adhere to the requirements for application to, and approval from, the Internal Revenue Service so that you will be approved as the type of nonprofit you identified above. Your mission statement should be specific enough to be approved by the IRS yet broad enough to allow your organization to grow and expand with time. What kinds of activities might your organization engage in to raise money for your cause? Will any of the activities you use to raise money create Unrelated Business Income? If so, what are the additional requirements this income will create? What kind of tax return will you be required to file? Who will file the tax return? Who else will be involved in this organization with you? You will need to use resources outside of the power points to answer these questions completely. There are many resources available on the internet that are designed to aid in the startup of a nonprofit. Be sure to consider the reliability of the source. Feel free to be creative. Please write a summary of the above information presented as a business proposal to an investor. “Pitch” your idea to gain support. Spelling, grammar and punctuation count. Please submit this assignment through Canvas, being sure to include a source page. This is your chance to be creative in Tax 2. Enjoy!
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Explanation & Answer

Attached.

Non-Profit Assignment of Income Tax outline
i.

Alpha-Free Education for Girls in Africa

The nonprofit is aimed at providing education for girls in Africa. More than 10 million
children in Africa have no access to education. This is because of inadequate learning facilities
and other economic and social problems.
ii.

What kind of nonprofit would be the most useful for this mission?

Educational Non-profit under the Washington Nonprofit Corporation Act (the “Act”).
iii.

Alpha’s Mission Statement

The mission is to empower the future generations of change through education in Africa by
ensuring they have access to basic and advance education and access to a clean learning
environment.
iv.
a)

v.

Fundraising Activities for Alpha
We shall have a 10-kilometer walk and run the event every year. This is a
low-cost activity that has a high return on investment.

Therefore, this income will create additional requirements as it relates to corporate
tax filling

Income got from these exercises is unrelated to the organization's mission. IRS taxes it as
though earned by a corporate entity. For the most part, such income will be liable to tax at the
ordinary corporate rates.
vi.

What sort of tax return will Alpha be required to document?

Tax filing Form, 990 and Form 990-T, will be ...


Anonymous
Very useful material for studying!

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