Not-for-Profit

Categories

Reasons to Renew

When inflation is high, you may need to give your members a reason to renew because it’s common for people to cut expenses by deciding not to renew subscriptions and memberships.
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Value of Tangible Donations

Is the value of tangible donations simply the price a not-for-profit would charge if it sold the goods in a rummage sale or on an auction website?
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Endowment Investments

Endowment investments come with major responsibility and generally need to be managed by a financial expert. And, nonprofit organizations must adhere to certain regulations.
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Employee Benefit Plan Audit

An employee benefit plan audit is a periodic and independent examination of a company’s benefit plans that are subject to ERISA. If your company currently offers or plans to offer an employee benefit plan, read this article to learn about audit requirements.
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Learn to Love Delegation

To best serve your nonprofit and its constituents, you must practice the art of delegation and even perfectionists can learn to love delegation.
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Minimize Financial Mistakes

Nonprofits need to take the necessary steps to minimize financial mistakes and be sure accounting processes are formally documented and that they are routinely followed.
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Hiring Military Veterans

If your not-for-profit is looking for workers, you might want to consider hiring military veterans. This demographic can have a harder time finding civilian jobs, and tax breaks may be available for employers who hire them.
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Code of Ethics

A Code of Ethics is more than limiting potential fraud losses. It also provides nonprofit organizations with an opportunity to document and disseminate its core values.
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Nonprofit Revenue Detective

Be a nonprofit revenue detective. You don’t have to wait for the next scheduled audit to assess your nonprofit’s financial health. Follow the lead of your professional auditors and focus on analyzing your revenue.
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Deducting Website Costs

These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on deducting website costs. Fortunately, established rules that generally apply to the deductibility of business costs provide business taxpayers launching a website with some guidance as to the proper treatment of the costs.
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Is a Donation Worth Bad Publicity?

No not-for-profit wants to turn down donations — particularly if they’re large. But, you need to decide is a donation worth bad publicity? Bad publicity, particularly if it hits social media and goes viral, can be far more expensive for your organization in the long run.
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Tax Obligations Going Out of Business

Many businesses shut down due to the pandemic and the economy. However, tax obligations when going out of business need to be met. First, a business must file a final income tax return and other related forms for the year it closes its doors.
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Getting the Grant

There are thousands of grants and millions of dollars available to nonprofits from the federal government, states, foundations and other sources. Getting the grant you need generally requires you to submit a thorough, professional, and compelling grant proposal.
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Telecommuting Nexus Relief

To help businesses and taxpayers impacted by the pandemic, due to the COVID-19 pandemic, the Minnesota Department of Revenue provided telecommuting nexus relief from business income tax and sales and use tax specifically related to telecommuting.
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2022 Third Quarter Tax Deadlines

Here are some of the key 2022 third quarter tax deadlines affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
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