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Calculating business expenses

How to Allocate Nonprofit Expenses

There are some universal truths when it comes to nonprofits that are not dependent on the size of the organization. This is especially true about money. While yes, the amount of revenue determine which Form 990 the nonprofit is required…

Client Spotlight

Client Spotlight: Feeding Caribbean, Inc.

Not all of Foundation Group’s clients limit their charitable activities to the continental U.S. And just like they’ve gone beyond the horizons of the country’s immediate borders, this organization has gone above and beyond in their first year of operations…

509a1 vs 509a2

What Is the Difference Between a 509(a)(1) vs 509(a)(2) Nonprofit?

A nonprofit’s source of revenue can greatly affect its potential IRS classification of 501(c)(3) status. Often, an organization’s purpose determines any sub-classification. In this article, we’re going to take a look at what happens when it is revenue that determines…

Client Spotlight

Client Spotlight: HB Ranch Donkey Rescue, Inc.

One of the most heart-warming nonprofit charitable purposes is animal rescues. There’s something about an animal’s sweet face looking back at you that makes most people’s hearts melt. Well, the wonderful leaders of HB Ranch Donkey Rescue have managed to…

texas tax exemption

State Nonprofit Compliance: Understanding Texas Tax Exemption

Nonprofits that file for 501(c)(3) status with the IRS enjoy federal tax exemption when that status is approved. In most states, the IRS determination letter is all that is required to also enjoy state corporate tax exemption. Texas is one…

Client Spotlight

Client Spotlight: Cycle for Recovery, Inc.

Nonprofit organizations take all forms with their missions and how they get accomplished. One thing that never changes, though, is the passion that exudes from those taking the lead. I was able to catch up with Chris with Cycle for…

Mature Woman Accounting

How to Categorize Operations Revenue

In part two of our reporting series, we want to address how to categorize some of the other types of revenue a nonprofit organization frequently encounters. Donations aren’t the only type of funding with specific reporting requirements. Non-gift revenue sources…

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