While some 200,000 to 400,000 (it's unclear how many there are) nonprofits, likely with less than $25,000 annual budgets, are about to lose their tax exemption status because they failed to file under the 3 year "file or lose it" rule (see New York Times). But not to worry: folks can still create a new nonprofit if they are of a mind. And, they can do it really quickly if need be (or have the right connections?).
A Farm-Aide type of nonprofit has been created and is out raising money for those who have or will be affected by the Gulf oil spill. The first fundraising just took place this weekend in New Orleans with some pretty big hitters. Wow, just how did they get organized so quickly. For more on the story, see the Philadelphia Inquirer.