Fiscal agent or fiscal sponsor? While they have confusingly similar names, they both have unique advantages that can help nonprofits and increase a sense of community. To know which one is best for you, it helps to know the difference […]
Not-for-profit
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 […]
Nonprofit organizations produce financial reports for a number of reasons: internal financial reports for management and the board of directors; financial reports provide to grantors, whether with applications or reporting; the Form 990 filed with the IRS; and audited financial […]
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 […]
Your organization’s lawful gambling fund is having a record year. Business is booming, everything is looking up until you realize the increase in profits will cost you an absurd amount in income taxes at year-end. You have two months until […]
Page 1 of 3
ADDRESS
10 River Park Plaza, Suite 800
Saint Paul, MN 55107
(651) 227.6695
Fax: (651) 227.9796
info@mahoneycpa.com
© 2022 Mahoney | Privacy Policy
Mahoney Ulbrich Christiansen & Russ, PA