Not-for-Profit

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Nonprofit Board Term Limits

Term limits for not-for-profit board members can be a double-edged sword. They can allow you to easily let go of unsuccessful board members, but they also can cause you to lose the best sooner than you’d like.
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Cost Segregation Study

A cost segregation study might allow you to accelerate depreciation deductions on certain items, reducing taxes and boosting cash flow. Under current law, the potential benefits of a cost segregation study are now even more significant than they were a few years ago.
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Pay Transparency

Nonprofits whose states or municipalities have passed pay transparency laws must comply by, for example, revealing salary ranges in job postings. But even if you’re not required to, consider adopting these practices.
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Fundraising Commitment

If your not-for-profit focuses the majority of its fundraising energy on the holiday season and year-end period, you may risk cash-flow problems. A solid fundraising commitment plan can help you make fundraising an ongoing process.
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Nonprofit Disaster Plan

Almost no region of the United States has escaped natural disasters recently, so if your organization doesn’t have a NFP disaster plan, it needs to put one in place immediately.
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Preparation for NFP Audit

Don’t let the preparation for your NFPs annual audit become a last-minute sprint. Plan early so you’ll have the right records ready for review.
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Private Foundations Conflict of Interest

Private foundations must adhere to strict conflict-of-interest rules. Transactions with “disqualified persons,” including substantial contributors, managers, officers, directors and trustees and their families generally are off-limits. . Selling or leasing property to or from your foundation and making loans or providing goods to it are prohibited. If the IRS determines
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Minnesota Metro Sales Tax Increase

On October 1, 2023, a metro sales tax increase will affect seven metro counties in Minnesota. The counties of Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington will need to collect a new 1% local sales tax that will be used to fund transportation and housing projects.
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Tax Reporting for Special Events

For nonprofits, tax reporting for special events can be complicated. But careful tracking of revenues and expenses and retaining related documentation now will help facilitate the reporting process later.
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Emergency Savings Accounts

In 2024, new provisions of the Secure Act 2.0 may allow businesses to help non-highly compensated employees in financial emergencies to take a withdrawal from their 401(k), 403(b) or 457(b) plan using emergency savings accounts that are linked to the plan.
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Cryptocurrency Donations

Most nonprofits benefit when they accept donations from supporters in whatever form they want. So if you don’t yet accept cryptocurrency donations, here are some ideas on why you may want to start.
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New Ideas for Nonprofits

Change is good for all organizations and new ideas for nonprofits bring innovation that makes it easier to achieve, and even expand, the nonprofit's mission.
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High Net Worth Donors

If your nonprofit hopes to land a large gift, it needs to go to the source: high net worth donors. Learn more about wealthy philanthropists and how to get their attention.
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Nonprofit Public Relations

Good public relations can mean many things. But for a public charity, it means frequently, rather than occasionally, using the media to communicate with prospective supporters about successes, challenges and opportunities.
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Improve Nonprofit Accounting Processes

Inefficient accounting processes and errors can cost a nonprofit time and money. Here are some tips on how to find and fix less than perfect accounting processes.
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