Not-for-profit

Here is a question we hear quite often: “Our Nonprofit Made Changes to Its Programs, do we Need to Update Our Form 1023?” Has your organization made significant changes to its original mission or program services and now you are […]

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. […]

One of the best ways a nonprofit organization can measure how well it is doing financially is by preparing a budget for a period and then comparing the actual results to that budget. However, to make budgeting a meaningful tool […]

Why do the accounting standards keep changing words around on us? And what is a government grant now? Under the new revenue recognition standards for not-for-profit entities in FASB (the Financial Accounting Standards Board), there are two main classes of […]

Are you on a new 501(c)(3), nonprofit or not-for-profit board of directors or is your board looking for an update on best practices for the board? Each organization can be different in their structure of their board; however, these five […]

If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of […]

Amid a plethora of new and proposed tax legislation, it’s important to remember tax-savings strategies that existed before the COVID-era. One of these strategies, which is particularly beneficial for taxpayers engaging in real estate transactions, is utilizing the like-kind exchange […]

Who doesn’t love getting free stuff? In the nonprofit world, they have a special name for the free stuff they receive: it’s called an in-kind contribution. What is considered an in-kind contribution can vary drastically depending on the situation. Some […]