When It Comes to Revenue, Nonprofits need to Think Like Auditors
July 30, 2018 – Auditors examining a not-for-profit’s financial statements spend considerable time on the revenue figures. They look at the accounting methods used to record revenues and perform a detailed income analysis. You can use the same techniques to increase your understanding of your organization’s revenue profile.
In particular, consider:
- Individual contributions. Compare the donation dollars raised to past years to pinpoint trends. For example, […]
Nonprofit Compliance Issues
Nonprofit organizations must be compliant with rules from many different agencies. Here is a look at some of the current Internal Revenue Service issues to be aware of.
501(c) (4), (5) and (6) Self-Declarers
Social welfare organizations; labor, agricultural and horticultural groups; and business leagues,such as a trade association – can declare themselves tax-exempt without seeking a determination from the IRS. The IRS will review organizations to ensure that they […]
Ensure Consistency Between Your Website and Your Form 990 To Avoid IRS Issues
A basic area of interest to the IRS are the programs your organization offers. Tax exempt status was granted, in large part, based on your programs detailed to the IRS. You should see if the program descriptions in Part III of your 990 are consistent with your website. If your website showcases programs that don’t […]
Why Nonprofits Need Continuity Plans
Most not-for-profits are intensely focused on present needs — not the possibility that disaster will strike sometime in the distant future. Yet it’s critical that all organizations have a formal continuity plan to guide them should a natural or manmade disaster disrupt operations.
You likely already have many of the necessary processes in place — such as safely evacuating your office or backing up data. […]
Nonprofits: Harness the power of the personal appeal
August 3, 2017 – You’ve probably heard it before: People don’t give to causes — they give to those asking on behalf of a cause. That’s why a personal appeal continues to be such a powerful not-for-profit fundraising tool. In fact, requests from […]
Make endowment funding your nonprofit’s ally
October 11, 2017 – Income from endowment funds may be able to help your not-for-profit meet operating expenses, ease cash-flow problems and supplement next year’s annual budget. But you need to pay attention to several factors, including investment performance, inflation, operational changes and — the only factor […]