When it comes to the intersection of estate planning, charity, and philanthropy, there are many things that must be considered. It may be estate tax concerns, leaving an inheritance to your family, or creating a lasting legacy of giving that…
When it comes to establishing an appropriate philanthropic vehicle, the two most often chosen are Private Foundations (PF) and Donor Advised Funds (DAF). Both have their distinct advantages, as well as some drawbacks. DAFs have become increasingly popular over the…
Scholarships are an excellent opportunity to make a positive impact and support the objectives and mission of your nonprofit. However, there can be IRS compliance issues for your organization if your program isn’t set up properly. Keep these 3 considerations…
If you have experience in the for-profit world, you have likely heard the common advice that you should incorporate a new business in the state of Delaware. As of 2016, roughly 44% of Fortune 500 companies are incorporated in Delaware.…
Maintaining timely and accurate financial records is one of the most important responsibilities facing every nonprofit organization. But, doing it right is time-consuming, and the rules are complicated. In fact, bookkeeping can be so complicated that 40% of small business…
Good news from the IRS usually sounds like the beginning of a funny joke...but not this time. In an unexpected move, the IRS announced in late January a revised filing fee schedule for applicants for 501(c) status. Most applicants will…
You have seen the videos from stores during Black Friday: mass amounts of people funneling into a store to grab anything and everything they can. People go on day-long shopping sprees to cross off everything on their list for the…
This is a conversation our staff members have with clients at least 4 or 5 times per week: The issue of a nonprofit hiring and paying an independent contractor. What is fascinating is the degree of resistance we often get…
Last week's article discussed the steps an organization must take to transition from its incorporated state to a new state for operations. If you have questions or concerns about the process of relocating your nonprofit to a different state, be…
One of the questions we are frequently asked when it comes to charitable solicitations or fundraising registration is the cost of non-compliance. What risk does an organization run if it fails to properly register in a state where it's required?…
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