What are the reporting requirements for nonprofit organizations?

In South Dakota, the reporting requirements for nonprofit organizations varies depending on the type and size of the organization. All nonprofit organizations are required to register with the South Dakota Secretary of State before beginning operations. Nonprofit organizations may be required to file annual reports with the Secretary of State, which include information such as the organization’s name, address, and contact information; specified activities that the organization completed during the reporting period; the organization’s total assets, liabilities, and net income; and the names and addresses of officers and board members. In addition, nonprofit organizations are typically required to file an annual federal income tax return with the Internal Revenue Service (IRS). The specific form that is required will depend on the type of organization and its operations. Some organizations may also be required to file separate information returns with the IRS, such as a 990-EZ or 990-N. Nonprofit organizations may also be required to file reports with their state’s Attorney General’s office. These reports can include financial information, annual reports, and other information regarding the organization’s operations and activities. Finally, nonprofit organizations may also be required to file various forms with the federal government, such as an application for tax-exempt status. In some cases, these forms will need to be updated periodically to remain in good standing.

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