Not-for-profit

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 […]

Nonprofits do some awesome things in our communities: they serve people in need, promote arts and creativity and help build a more unified community. With all these great things they are doing, deciphering Generally Accepted Accounting Principles (GAAP) is the […]

Not-for-profit accounting is challenging. It has several unique quirks, and it is constantly evolving. These factors add increased complexities to an already difficult industry and put pressure on financial leaders of not-for-profits to keep current on technical trends and regulations. […]

IRS compliance can be confusing for a non-profit. Failing to file, or filing the incorrect form can have serious consequences. This, of course, begs the question, which IRS Form 990 should my non-profit be filing: a 990-N, 990-EZ, 990, 990-PF, […]

How COVID-related legislation changes thresholds  For many nonprofits, they received more federal funding in 2020 than ever before because of the ongoing COVID-19 pandemic. Between the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Coronavirus Response and Relief Supplement Appropriations […]

Are you thinking “Our non-profit is  a tax-exempt organization so why should we have to pay taxes?” When a tax-exempt organization has income that is not related to their exempt purpose it might be required to pay taxes.  An organization […]