501(c)3 corporations are not required to be audited to exist.
They do file 990’s, and many solicit independent audits in order to qualify for sizable grants from deep-pocketed donors, but it is not required.
[quote]Otep wrote:
501(c)3 corporations are not required to be audited to exist.
They do file 990’s, and many solicit independent audits in order to qualify for sizable grants from deep-pocketed donors, but it is not required.[/quote]
BS again - you’ve OBVIOUSLY never had to file Solicitation Registrations with each of the applicable states or had to abide by the state of residence requirements for setting up a non-profit or the registering as a foreign corporation in each state of operaiton, or met the membership requirements of the various non-profit trade groups, or complied with due diligence requirements from a board of directors . . . .
[quote]IrishSteel wrote:
[quote]Otep wrote:
501(c)3 corporations are not required to be audited to exist.
They do file 990’s, and many solicit independent audits in order to qualify for sizable grants from deep-pocketed donors, but it is not required.[/quote]
BS again - you’ve OBVIOUSLY never had to file Solicitation Registrations with each of the applicable states or had to abide by the state of residence requirements for setting up a non-profit or the registering as a foreign corporation in each state of operaiton, or met the membership requirements of the various non-profit trade groups, or complied with due diligence requirements from a board of directors . . . . [/quote]
No. But I have worked on the 990 of a non-profit who had been in business for 10 years and was considering soliciting their first independent audit.
I assume if that had been illegal, the IRS would have said mean things to them.
Perhaps its a size thing? I’m not claiming to be an expert, but I have worked in the field and this is what I saw.
A. Financial Statements. Some organizations prepare financial statements
without any involvement of outside accountants or auditors. Others use outside
accountants to prepare compiled or reviewed financial statements, while others obtain
audited financial statements. State law may impose audit requirements on certain
charities, and a charity must ensure that it abides by the requirements of state law.
Many organizations that receive federal funds are required to undergo one or more
audits as set forth in the Single Audit Act and OMB Circular A-133. However, even if an
audit is not required, a charity with substantial assets or revenue should consider
obtaining an audit of its financial statements by an independent auditor.
ohhh. look a pretty quote . . . that missed the points I raised. I’ve worked in non-profits most of my life. Trust me on this one - audits are required for a variety of reasons as I listed for you above . . .
I hope you guys were not soliciting donations from the public without submitting the required Solicitation Registrations with the states . . . if not, your non-profit is in serious trouble with the state authorities . . .
In addition - the state where the non-profit was incoporated will also have annual filing requirements and most states do required audits to be filed on a regualr basis.
In addition - most articles of incoporation include an annual audit as part of the board of directors’ fiduciary responsibilities
[quote]IrishSteel wrote:
ohhh. look a pretty quote . . . that missed the points I raised. I’ve worked in non-profits most of my life. Trust me on this one - audits are required for a variety of reasons as I listed for you above . . .
I hope you guys were not soliciting donations from the public without submitting the required Solicitation Registrations with the states . . . if not, your non-profit is in serious trouble with the state authorities . . . [/quote]
I’m not a lawyer, and I’m not a CPA. My point is that audits are not required for all non-profits for tax compliance. For that, evidence from the IRS is sufficient. Anything more than that is assumed. Although it looks like the registration requirements are somewhat more lenient where I am than where you are.
http://www.oag.state.tx.us/consumer/nonprofits.shtml#establish
Theoretically, I could provide a ‘pretty quote’ that would contain the relevant portions of the link… but doubtless it would ignore the various and diverse points you raised.
All of this is somewhat besides the point. I agree that the reatively strict requirements for non-profits might lead to better detail of where and how money is spent, but its far from perfect, and abuse happens in non-profits all the time. Not knowing where the money goes is a very real problem with non-profits.
[quote]Otep wrote:
[quote]IrishSteel wrote:
ohhh. look a pretty quote . . . that missed the points I raised. I’ve worked in non-profits most of my life. Trust me on this one - audits are required for a variety of reasons as I listed for you above . . .
I hope you guys were not soliciting donations from the public without submitting the required Solicitation Registrations with the states . . . if not, your non-profit is in serious trouble with the state authorities . . . [/quote]
I’m not a lawyer, and I’m not a CPA. My point is that audits are not required for all non-profits for tax compliance. For that, evidence from the IRS is sufficient. Anything more than that is assumed. Although it looks like the registration requirements are somewhat more lenient where I am than where you are.
Theoretically, I could provide a ‘pretty quote’ that would contain the relevant portions of the link… but doubtless it would ignore the various and diverse points you raised.
All of this is somewhat besides the point. I agree that the reatively strict requirements for non-profits might lead to better detail of where and how money is spent, but its far from perfect, and abuse happens in non-profits all the time. Not knowing where the money goes is a very real problem with non-profits.[/quote]
But would you say, it’s easier to know where you money goes giving to a non-profit, or the federal government? (as was the point of the argument)
[quote]DoubleDuce wrote:
[quote]Otep wrote:
[quote]IrishSteel wrote:
ohhh. look a pretty quote . . . that missed the points I raised. I’ve worked in non-profits most of my life. Trust me on this one - audits are required for a variety of reasons as I listed for you above . . .
I hope you guys were not soliciting donations from the public without submitting the required Solicitation Registrations with the states . . . if not, your non-profit is in serious trouble with the state authorities . . . [/quote]
I’m not a lawyer, and I’m not a CPA. My point is that audits are not required for all non-profits for tax compliance. For that, evidence from the IRS is sufficient. Anything more than that is assumed. Although it looks like the registration requirements are somewhat more lenient where I am than where you are.
Theoretically, I could provide a ‘pretty quote’ that would contain the relevant portions of the link… but doubtless it would ignore the various and diverse points you raised.
All of this is somewhat besides the point. I agree that the reatively strict requirements for non-profits might lead to better detail of where and how money is spent, but its far from perfect, and abuse happens in non-profits all the time. Not knowing where the money goes is a very real problem with non-profits.[/quote]
But would you say, it’s easier to know where you money goes giving to a non-profit, or the federal government? (as was the point of the argument)[/quote]
I honestly don’t know. I mean, when I read government published statistics, I tend to trust them (with certain caveats). In my work for the government, I’ve seen the excessive forms designed to create a paper-trail to allow for transparency. I rate them at as having a roughly equivalent level of accuracy.
I hate to straddle the fence, but I just read numbers, man.
Otep is correct in that not ALL non profits are required to have an audit. Shit, I could start a non profit tomorrow and while I wouldn’t need an audit, it certainly wouldn’t be a successful non profit. Non profits with 500k+ of federal grant money must have an audit, as well as non profits that reach a certain size (which I can’t remember the exact size off the top of my head).
My point is that all sizable, reputable non profits have audits done and the transparency with which the money is spent is much better than the government.
[quote]PAINTRAINDave wrote:
[quote]ron22 wrote:
But but but…we need more stimulus packages…the Chosen One says so.[/quote]
Wait until your all crying about getting hit with the “double dip” bat…
What would YOU do as Obama? Suggest an alternative
[/quote]
- Cut the size of the government in half
- Cut taxes in half
- Audit, and tax the shit out of the Federal Reserve
- After stripping the Fed Reserve of all its power and taxing it to death, end it
- Go back to a gold standard (or a STANDARD of some kind, money must be backed by something)
- Pull our troops out of every country we have them in
- Close every single base we have on Earth except the ones in America
- End the following “wars”: War on Terror, War on Drugs
- Support the growth of small business and break up this banking cabal that is currently in control of America
- Put term limits for every single person in congress, limit it to one term only
- Get the government out of healthcare and education. We spend more money on education now than ever and don’t win, place or show in any educational capacity anymore. The children’s parents and yes, the kids themselves must take responsibility for their own education.
- End the following departments: Department of Education, Department of Agriculture, Department of Homeland Security just for starters. After ending these work on cutting some more each year.
- Start actually following the constitution.
[quote]FightinIrish26 wrote:
[quote]LankyMofo wrote:
At what point do the debt levels become stratospherically high? Because I believe we’re already there.
Most people don’t realize how much even $1 trillion is. To put it in perspective, 1 trillion seconds is roughly 32,000 years. Our national debt is now over $13 trillion.
At what point should we begin to pull in the reigns a little and start to pay that down?
[/quote]
I’m all for lowering the debt, but I believe it should start with military spending. Immediately. [/quote]
I’m for that. Keep the size of our military the same, but pull every single serviceman out of every country in the world except for America. Close every single base outside of America. End the “War on Terror”.
It has been estimated that by just doing this, we will save $1 trillion dollars a year.
Add in ending aid to any country and stopping spending money on new military technology (read: giving out government contracts to mercenaries and growing the military industrial complex) and you are probably looking at $1.5 trillion.
Wait until the federal is bailing out too-big-to-fail states.
[quote]Charlemagne wrote:
[quote]FightinIrish26 wrote:
[quote]LankyMofo wrote:
At what point do the debt levels become stratospherically high? Because I believe we’re already there.
Most people don’t realize how much even $1 trillion is. To put it in perspective, 1 trillion seconds is roughly 32,000 years. Our national debt is now over $13 trillion.
At what point should we begin to pull in the reigns a little and start to pay that down?
[/quote]
I’m all for lowering the debt, but I believe it should start with military spending. Immediately. [/quote]
I’m for that. Keep the size of our military the same, but pull every single serviceman out of every country in the world except for America. Close every single base outside of America. End the “War on Terror”.
It has been estimated that by just doing this, we will save $1 trillion dollars a year.
Add in ending aid to any country and stopping spending money on new military technology (read: giving out government contracts to mercenaries and growing the military industrial complex) and you are probably looking at $1.5 trillion.[/quote]
If you would aproach the programs that not only do NO good but cost money on the back side , I could see working on some social programs . But I think if you did away with the Huge Military and left a small mean force to protect America America would be debt free very fast , then we could cut taxes appropriately
I am not sure about going back to the gold standard. I am not sure how they say it played into the Great Depression
[quote]Tiribulus wrote:
[quote]FightinIrish26 wrote:
<<< No. You contribute to private charities, good luck knowing where your money is really going. >>>[/quote]
He didn’t really just say this?!?!?!? I see where our tax money is going. I see the once mightiest industrial capital of planet Earth reduced to a burned down 3rd world warzone. I see the body count every day as the victims of all our enforced compassion continue to kill each other off, but have no fear.
Lacking even the vaguest concept of what a responsible loving faithful family looks like they have no problem cranking out new meat for the grinder all the time. Detroit is the ultimate big government atheist paradise. You should be proud.
Given the choice I’d send my money to the mob first. At least they don’t make any pretense to compassion or justice.[/quote]
Well stated.
[quote]pittbulll wrote:
[quote]Charlemagne wrote:
[quote]FightinIrish26 wrote:
[quote]LankyMofo wrote:
At what point do the debt levels become stratospherically high? Because I believe we’re already there.
Most people don’t realize how much even $1 trillion is. To put it in perspective, 1 trillion seconds is roughly 32,000 years. Our national debt is now over $13 trillion.
At what point should we begin to pull in the reigns a little and start to pay that down?
[/quote]
I’m all for lowering the debt, but I believe it should start with military spending. Immediately. [/quote]
I’m for that. Keep the size of our military the same, but pull every single serviceman out of every country in the world except for America. Close every single base outside of America. End the “War on Terror”.
It has been estimated that by just doing this, we will save $1 trillion dollars a year.
Add in ending aid to any country and stopping spending money on new military technology (read: giving out government contracts to mercenaries and growing the military industrial complex) and you are probably looking at $1.5 trillion.[/quote]
If you would aproach the programs that not only do NO good but cost money on the back side , I could see working on some social programs . But I think if you did away with the Huge Military and left a small mean force to protect America America would be debt free very fast , then we could cut taxes appropriately
I am not sure about going back to the gold standard. I am not sure how they say it played into the Great Depression[/quote]
It doesn’t have to be a gold standard, but we must, absolutely have money backed by something.
As far as the most useless programs getting cut…well let’s start with congress. Talk about useless humps, my god, they don’t even work a third of the year.