Not-for-profit

For a nonprofit entity, the budget serves as a guide to manage resources each month. Budgets are generally prepared by the management of the organization and reviewed and approved by the board of directors. The budget will include all types […]

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 […]