When you first started your nonprofit, you filed a Form 1023 to be registered as an official 501(c)(3) organization. This meant the federal government wouldn’t require your organization to pay taxes so that you can instead reinvest all of your revenue back into your mission and the organization itself. But does this exemption from the burden of paying annual taxes also mean that your organization is also exempt from nonprofit audits?
Nonprofit Audits: A Complete Guide to Financial Auditing
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