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Non-Profit Sector Could Shrink 25%

July 28, 2010

In May 2010, the IRS began revoking the tax-exempt status for 300,000 charities that have failed to file mandatory non-profit tax returns for three straight years, according to charity watchdog Guidestar.org. While this development will not affect major non-profits, it will put out of business thousands of smaller organizations.  As a result, America’s non-profit sector could shrink by a staggering 25%.

If you are considering an internship or job with a small non-profit and are called in for an interview, you may want to ask them if their tax return filings with the IRS are up-to-date.  Guidestar has published a report on the issue and its impact on the non-profit sector.

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