Form 990 (Schedule M) for Orlando Florida 2024-2025

Form 990 (Schedule M) for Orlando Florida: What You Should Know

The information below was compiled by the Florida Department of Revenue's Nonprofit Advisory Committee. FAST FACTS OF FILING A NONPROFIT: • It needs to be a nonprofit corporation or other entity that is tax-exempt under Section 501(c)(3) of the Tax Reform act of 1986 as amended. • It needs to be a bona fide community benefit corporation registered with the Secretary of State or a foreign society. • It must be operated by an individual, not a corporation or other entity in which a majority of the voting power is the owner's direct family. It also needs to be a charitable organization, not a religious congregation or organization. In 2015, just under 6,000 corporations and foundations with assets exceeding 5 million were set up as nonprofits in Florida. Of those, more than 90% were social welfare, medical, education, or environmental organizations serving the community, according to the Miami Herald. Since 1976, the Orlando Sentinel has investigated more than 1,300 allegations of fraud from tax-exempt government-funded organizations. Of those investigations, about 200 went nowhere and 11 resulted in civil settlements. In 2013, ProPublica, a Pulitzer Prize-winning journalism nonprofit, sued the Internal Revenue Service after that agency told media groups it had not ruled on any allegations of public corruption by tax- exempt groups. The IRS said a review of the media cases was conducted within the past five years and did not consider allegations involving tax-exempt groups. ProPublica said it did not know how many investigations the IRS had undertaken in recent years involving tax- exempt organizations, but it said its work raises questions about the agency's ability to thoroughly investigate allegations of alleged public corruption. In a statement released in February 2015, when ProPublica sued the IRS over its handling of our request, the agency pointed to three recent audits as examples of complaints in which the IRS cited tax-exempt groups for missing tax filings. The audit of the Florida Council on Competitiveness included seven allegations relating to tax returns, five of them involving potential illegal fundraising. The IRS auditors described a “long history of questionable fundraising activity by CFC.” They said CFC “did not produce a complete set of complete IRS Form 990s for three of the years at issue, and has yet to fully comply with the requirements of the tax code.” The audit of the Palm Beach County Republican Party was prompted by allegations of improper fund-raising and questionable practices by CFC.

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