Nonprofit Blog
Nonprofit
A NON-PROFIT’S SUCCESSION PLAN: THE STRATEGY OF LEADERSHIP DEVELOPMENT
The best way to reduce the effect of lost talent and underdeveloped employees is to take the time to develop a leadership-based succession plan that focuses on developing and mentoring the next generation. Read More.
SUCCESSION PLANNING: A NON-PROFIT’S PATH TO SURVIVE AND THRIVE
Succession Planning according to Susan M. Heathfield is the process whereby an organization ensures that employees are recruited and developed to fill each key role within the company. Read More.
IMPORTANT NEWS FOR NOT-FOR-PROFITS “PARKING TAX” REPEALED RETROACTIVELY
The “Parking Tax” imposed under I.R.C. Section 512(a)(7) upon enactment of the 2017 Tax Cuts and Jobs Act has now been retroactively repealed under the Taxpayer Certainty and Disaster Tax Relief Act signed into law on December 20, 2019. Read More.
WHAT IS A NONPROFIT CORPORATION AND HOW TO FORM ONE?
A Nonprofit Corporation is a special type of corporation that has been organized to meet specific tax-exempt purposes. To qualify for Nonprofit status, your corporation must be formed to benefit. Read More.
TYPES OF NONPROFITS: EVERYTHING YOU NEED TO KNOW
Nonprofit Organization. In the United States, there are over 1.6 million nonprofit organizations. Social Advocacy Groups. 501(c)(1) 501(c)(2) 501(c)(3) – Charitable Organizations. Foundations. 501(c)(4) – Civic League, Social Welfare Organization. Read More.
UNDERSTANDING NONPROFIT MANAGEMENT ROLES
At a meta level, management—in the nonprofit sector or otherwise —is about creating and maintaining an environment in which limited resources are deployed to create as much value as possible. Read More.
STRATEGIC PLANNING FOR NONPROFIT ORGANIZATIONS
Strategic planning is a process in which an organization determines what it wants to accomplish in the future, what actions need to be taken to achieve these goals and what resources the organization needs to reach its goals. Read More.
HOW TO UNDERSTAND A NONPROFIT FINANCIAL STATEMENT
Nonprofit organizations submit financial statements to government authorities, lenders and other stakeholders just like their for-profit counterparts, although the focus of the financial statements is slightly different. Read More.
ILLUSTRATIVE FINANCIAL STATEMENTS AND FORM 990 FOR A SMALL NONGOVERNMENTAL NOT-FOR-PROFIT WITH MULTIPLE REVENUE STREAMS
At a meta level, management in the nonprofit sector or otherwise is about creating and maintaining an environment in which limited resources are deployed to create as much value as possible. Read more.
SINGLE AUDIT FOR BEGINNERS
Audits are important because they promote accountability. Here are 10 FAQs to help you better understand the Single Audit process. Read more.
NOT-FOR-PROFIT GOVERNANCE & MANAGEMENT RESOURCES
In an effort to bring more valuable resources to our clients, we have joined the Not-for-Profit Section of the American Institute of CPAs (AICPA). These governance and management resources are being shared with our Not-for-Profit clients. Read more.
CASE STUDY: HOW THE NEW “PARKING TAX” AFFECTS NONPROFITS
The TCJA imposes unrelated business income tax on certain fringe benefits paid by nonprofits including any expenses paid or incurred after December 31, 2017, by a nonprofit for qualified transportation fringe benefits and parking facilities. Read more.
FIVE REASONS YOUR ORGANIZATION NEEDS AN AUDIT COMMITTEE
Success for not-for-profits (NFPs), regardless of their type or size, is built on a firm foundation of fiscal accountability and governance. Achieving these oftentimes elusive goals requires more than traditional business know-how and insights into the industry. Read more.
A GUIDE TO NONPROFIT ACCOUNTING (FOR NON-ACCOUNTANTS)
You probably didn’t start a nonprofit to stare at spreadsheets and Google things like how to record an in-kind donation. But proper accounting (and the analysis it lets you do) is crucial to the survival of your organization. Read more.
HOW TO START A NON-PROFIT ORGANIZATION?
Starting a nonprofit organization can be an inspiring way to give back to your community and help those in need. However, it is important to understand all of the steps involved in this process before moving forward. Read more.