Two accounting classes lend tax law expertise, bolster globalH2Ope’s well drilling mission
Minnesota School of Business-Moorhead accounting students helped globalH2Ope, which provides clean drinking water to Third World countries, file for tax-exempt status. The nonprofit is now better prepared to continue its mission—providing Haitians with access to this basic human need.
The Tax and Intermediate Accounting classes met with globalH2Ope principals, Brad and Bryan Odegard, to understand the organization’s operation, needs and plans for the future. They studied globalH2Ope’s bylaws, articles of organization and strategic plan to understand its structure and mission as a nonprofit organization.
“It is clear the students are learning the proper steps to file for tax-exempt status,” said the Odegards. “But more importantly, their genuine interest in how globalH2Ope executes its mission to deliver water to the Haitians has created a greater sense of purpose for their project. This has been rewarding to see.”
Students scrutinized IRS tax forms and codes to determine their applicability to the organization. By undertaking the extensive background work required to file for tax-exempt status, they saved globalH2Ope’s leaders time and allowed the organization to focus its energy and financial resources on its charitable mission.
The project offered the students valuable real-world experience satisfying a client’s need.
“Service-learning offers a unique learning experience that cannot be learned from a book.” said student Andrew Brenden.