Nonprofit Update2018-07-26T15:54:14+00:00

Nonprofit Update

Nonprofit Tax Reform Issues

September 7, 2018

Along with all the changes affecting individuals and for-profit businesses, nonprofit organizations were handed their own corner of tax reform when the Tax Cuts and Jobs Act (TCJA) was passed in late 2017. While changes related to employer matters are no different for nonprofits, there are a few issues pertaining to unrelated business income to be aware of, including taxation of certain employee fringe benefits and separate taxation of net income […]

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 Update|

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 […]

Nonprofit Update|

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 […]

Nonprofit Update|

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.

Formal plan

You likely already have many of the necessary processes in place — such as safely evacuating your office or backing up data. […]

Nonprofit Update|

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 […]

Nonprofit Update|

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