If your nonprofit is in the midst of shopping for new accounting software, here are a few tips to keep in mind for a pain-free switch. Selecting the right nonprofit accounting system: Accounting software is not one size fits all, so…
Dean Karlan, professor of economics at Yale University, recently wrote an article about determining if a charity is wasting donated money on overhead expenses. In this article, he discusses the “overhead ratio,” which we have discussed in a previous article…
The U.S. Government Accountability Office (GAO) found that audits of tax-exempt groups have been on the decline. Due to its lack of resources and a dwindling workforce, the IRS has only reviewed 0.7 percent of filing charities’ tax returns. Based…
We reported several weeks ago that the U.S. Senate was planning to vote on an extension of three lapsed tax breaks for charitable contributions. The three tax breaks include enhanced deduction for conservation easements, donations from retirement accounts, and breaks…
An article published yesterday by the online newspaper, ProPublica (which claims to focus on stories with “moral force”), is getting a lot of attention. In the essay entitled, The Wall Street Takeover of Charity, writer Jesse Eisinger goes to great…
Ron Wyden, U.S. Senate Finance Committee Chairman, expects Congress to pass legislation to extend three lapsed tax breaks for charitable contributions. Such extensions would be made permanent. The three tax breaks include the following: enhanced deduction for conservation easements, donations…
Giving Tuesday is a day that gives the world a chance to celebrate charities. In the past, it has been known as a day that follows Black Friday and Cyber Monday, but the increasing support shows it stands out on…
All you want for Christmas is… accounting software made for nonprofits. You may be one of the many nonprofits spending the holiday season shopping for better accounting software for your nonprofit. Foundation Group is pleased to announce that we are…
A big development has occurred in a story we’ve been following for quite some time. The Treasury Inspector General for Tax Administration reports that some of the missing e-mails belonging to former IRS employee Lois Lerner have been found. Lerner…
An article out this morning in The Chronicle of Philanthropy discusses the current trend in donor-advised funds. According to the story, gifts to donor-advised funds were up 23% in 2013. That adds up to a massive figure of $17 billion…