Nonprofit associations, like businesses, generate revenue and expenses. It is essential for nonprofits to maintain a bank account to properly account for these activities. Fortunately, it is not too difficult for a nonprofit to open a bank account.

Contrary to popular belief, tax laws aren’t designed just to raise revenue to fund the government. Tax policies are also designed to encourage or discourage certain behaviors. To encourage donations to nonprofits, also known as 501(c)(3) ...

Charity work is often part of a church's activities -- and some churches may choose to expand their charitable work by forming an independent nonprofit ministry.

The Internal Revenue Service has strict rules governing donations of non-cash property to tax-exempt nonprofit organizations. For gifts of property valued at over $250, the organization must provide the donor with a written acknowledgment of the ...

In Virginia, nonprofit organizations are referred to as "nonstock corporations": no dividends may be paid to directors or officers of the corporation beyond reasonable compensation for their services.

Nonprofit associations, like businesses, generate revenue and expenses. It is essential for nonprofits to maintain a bank account to properly account for these activities. Fortunately, it is not too difficult for a nonprofit to open a bank account.