Your Nonprofit's Board Needs Financial Experts

Posted by admin on Sep 9, 2019 2:00:00 PM

Even though nonprofits don’t face the same government regulations or public scrutiny as for-profit public companies do, that doesn’t mean your board can afford to get slack about financial governance. Donors and watchdog groups pay close attention to organizations’ Forms 990, and the media is quick to pounce on rumors of fraud in the nonprofit sector.

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Intricacies of Accounting for Pledges

Posted by admin on Aug 21, 2019 11:00:00 AM

Receiving pledges from donors who will make their contributions at a later date is great for your nonprofit, but accounting for these pledges is complicated. Pay close attention to the details below so you are able to record your contributions properly.

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Add Value to Your Nonprofit with an Advisory Board

Posted by admin on Aug 7, 2019 4:00:00 PM

An advisory board can bring new value, skills and resources to your existing, more formal board of directors. Is creating an advisory board right for your nonprofit?

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Is That Tax Notice You Received Really From the IRS?

Posted by admin on Jul 23, 2019 8:44:53 PM

Many people feel a sense of dread when they receive a letter from the IRS. Often, people will comply with whatever request is made, assuming that they must have made a mistake when completing their tax return. But what if that letter isn’t really from the IRS? Scams involving people claiming to represent the IRS are so prevalent that the IRS has an entire page on their website devoted to helping determine if an encounter is actually with an IRS representative.

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Considerations for Maturing Nonprofits

Posted by admin on Jul 17, 2019 11:00:00 AM

There is a standard life cycle that most not-for-profits experience. It begins with their early stage, which precedes a growth period that runs several years, followed by maturity. Once mature, the nonprofit has built its core programs and achieved a reputation in the community. But no organization can afford to rest on its laurels.

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It May be Time to Refresh or Replace your Programs

Posted by admin on Jul 3, 2019 8:00:00 AM

Are your programs relatively the same as they were a few years ago? If so, it’s time to review each of your programs and potentially replace, or simply refresh, your offerings.

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Ongoing IRS Oversight Challenges Noted With Form 1023 and Form 1023-EZ

Posted by admin on Jun 30, 2019 10:48:59 PM

In her latest report, the National Taxpayer Advocate, Nina E. Olson, says that the IRS still isn’t asking for enough information on the simplified Form 1023-EZ to ensure organizations using the form actually qualify for the exempt status. Further, a soon to be released revised Form 1023 runs the same risk.

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Foster Gift Matching at Your Nonprofit

Posted by admin on Jun 13, 2019 12:00:00 PM

When a corporate partner agrees to match the value of a donor’s gift, you can quickly double your organization’s gain. Are you doing everything you can to educate your financial supporters and their employers about matching gifts?

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Maximize the Potential of your Internal Audit Function

Posted by admin on May 30, 2019 11:00:00 AM

The key role of a not-for-profit’s internal auditors was once limited largely to testing financial and compliance controls and reporting their findings to the organization’s leadership. But today, with their cross-departmental perspective, internal audit staff (whether employees or outside consultants) can help anticipate and mitigate a variety of risks, improve processes — and even help evaluate your nonprofit’s strategies.

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How to Regain Tax-Exempt Status after Automatic Revocations

Posted by admin on May 16, 2019 8:00:00 AM

If your organization neglects to file the required annual forms with the IRS for three consecutive years, you will lose your tax-exempt status. Loss of your tax-exempt status will likely mean loss of donors, so it is imperative that you take action to reinstate your status immediately. Use the steps we’ve outlined below to reclaim your nonprofit designation.

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