An important announcement from one of our valued business partners, Aplos Software: Aplos Software, a company that specializes in online, nonprofit accounting, announced today that it will host a complementary year-end closing webinar for nonprofits and churches on Tuesday, December 15th at…
The IRS currently requires donors to a 501(c)(3) to have a receipt from the charity for any gift above $250 in order for that gift to be tax deductible. According to a post in Bloomberg BNA, the IRS is considering…
So, you want new donors? You want to make sure that you keep getting funds from the donors you currently have? What are you doing to make sure that both of these things are happening? If you lack a strategy and…
Nonprofits and social enterprise organizations rely immensely on their board of trustees. These individuals collectively can help propel a charity forward or become a roadblock to success. There are two areas where leaders should ensure that they are observing good board governance and practice, and they relate to the board chair and the nominating committee.
The Financial Accounting Standards Board (FASB) is the regulatory body that governs, well, accounting standards. FASB is recommending some pretty significant changes to the way nonprofits present their financial information. These proposed changes, the first in over 20 years, would…
It’s that time of year again… time to start thinking about your organization’s tax return filing. Some may not be aware of this annual requirement, or what even goes into this form. We created an FAQ to give a better understanding…
In our last article, we discussed legal liability of board members as it relates to corporate law. This post highlights liability in regards to IRS tax-exemption regulations. The board of directors collectively governs the affairs of a nonprofit organization. As…
In real world practice, becoming a board member for a nonprofit organization usually comes with little personal risk, and the probability of a member being legally accountable for actions taken by the nonprofit is relatively low. The fear of being…
We recently discussed a new bill which would require the IRS to give nonprofit organizations more advanced notice before revoking their tax-exempt status. Sens. Dan Coats and Ben Cardin coordinated the “Notice for Organizations That Include Charities is Essential (NOTICE)…
Two senators are sponsoring legislation which would require the IRS to give nonprofit organizations more advanced notice that they are at risk of losing tax-exempt status. This measure was introduced this past week by Republican Dan Coats and Democrat Ben…