NYS: New Optional Procedures For Property transactions By Religious Corp.
A recent amendment to the Religious Corporations Law that affects the procedures, set forth in Article 5 of the Not-for-Profit Corporations Law, to be followed by religious corporations when they sell, mortgage or lease for a term exceeding five years any of their real property. Religious corporations may now petition either the Court or the Attorney General for approval of such transactions. Also attached is a checklist of the documents and information to be included in a petition seeking such approval.
Nonprofit Auctions: articles and info from the Web
Tax reporting (Form 990) and Accounting (GAAP) for Auctions can be challenging. Below are good some articles and posts from around the web on the subject.
Nonprofit Auctions: A Complete Compliance Guide and Sample Forms
Charity Auctions: Dos and Don’ts
See this post on Nonprofit Accounting Basics
Tax Considerations in Charitable Auctions
See this article on Planned Giving Design Center
Accounting for Auction Items
How to Account for Charity Auction Items – Part I
How to Account for Charity Auction Items – Part II