Nonprofit Organizations

Artificial intelligence (AI), which enables machines to simulate human thought processes, is growing in leaps and bounds. Indeed, ChatGPT, an AI provider of content, surged past 180 million users in March, according to OpenAI. Naturally, not-for-profits are taking notice, and some organizations have adopted ChatGPT and other forms of AI into their operations. Not surprisingly, the […]

In general, organizations that qualify under Section 501(c)(3) of the tax code are exempt from paying federal income tax. However, some not-for-profits may seek to offset unrelated business income tax (UBIT) or income tax in years they don’t otherwise qualify for the exemption. In such cases, tax deductions can be extremely valuable. Here are six common […]