Nonprofit Gaming

Does your nonprofit hold bingo nights, casino nights or have “opportunity drawings”? Then you should read the updated publication from the IRS, Publication 3079 (rev. June 2010), Tax-Exempt Organizations and Gaming (link opens up a PDF). From the IRS’s Exempt Organization Update:

The publication explains the potential effect that gaming may have on an organization’s federal tax-exempt status and the special reporting responsibilities of organizations that engage in gaming activities.

Gaming can be a great way to raise funds for your nonprofit. Just make sure you are following all the federal rules and any state rules that apply.