blog
September 22, 2021
Keep Nonprofit Board Meetings Short and Sweet

Whether your not-for-profit is continuing to hold videoconference board meetings or is back to in-person gatherings, you don’t want to waste members’ time. Board meetings need to be long enough to accomplish agenda items and keep your organization on track, but not so lo...

September 15, 2021
Associations Should Prioritize Common Interests, Not Individual Services

Watch out, nonprofit trade associations! If your group is a 501(c)(6) organization, your activities could potentially threaten your tax-exempt status. To ensure you’re in compliance with IRS rules, you need to routinely review your member offerings and any business you mig...

September 3, 2021
Recovery Start-Up Employee Retention Credit

Did you start a business in 2020 and think that you were unable to qualify for the amazing Employee Retention Credit? Well, think again; you could be in luck. The recently enacted American Rescue Plan Act of 2021 (ARPA), created a new path that could allow you to qualify for...

August 25, 2021
Your Nonprofit May Have an Internal Controls Gap

The typical defrauded not-for-profit loses $75,000 per fraud incident, according to the Association of Certified Fraud Examiners. And that doesn’t account for the negative publicity and subsequent lost donations and support that often follow fraud. Although no preventive m...

August 16, 2021
Protect Your Company From Cyberattacks by Adopting Zero Trust

Some organizations struggle to prevent cyberattacks because they rely on cybersecurity tools and techniques that protect only their perimeter. Perpetrators who make it past a single line of defense (such as with a username and password) can gain unfettered access to the comp...

August 4, 2021
5 Ways Nonprofits Can Prepare for an Audit

No not-for-profit looks forward to annual audits. But regular maintenance and preparation specific to an impending audit can make the process less disruptive. We recommend taking the following steps....

August 2, 2021
Gift or Kickback? It’s a Fine Line.

Your employees shouldn’t accept any gift offered with the intent to improperly influence business decisions — or even one that merely appears to compromise their ability to act in your company’s best interests. Unfortunately, kickbacks are often disguised as gifts or t...

July 19, 2021
What You Can Do to Prevent Fraud in Your Construction Company

Fraud is costly for all victimized companies, but it’s even worse in the construction sector. According to the Association of Certified Fraud Examiners’ Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse, construction companies affected by fraud los...

July 15, 2021
IRS Struggles

It’s never been a particularly pleasant experience dealing with the IRS, but the IRS is struggling mightily right now in a way they have never struggled before. Their service is at an all-time low and there is no end in sight. They have millions of unopened pieces of mai...

July 14, 2021
Does Your Nonprofit Owe Tax On Its Sponsorships and Advertising?

Your not-for-profit may prefer to avoid activities that subject it to unrelated business income tax (UBIT). But if you accept advertising or sponsorships that aren’t substantially related to your tax-exempt purpose, you may unwittingly expose your organization to UBIT liab...

July 13, 2021
New Minnesota Tax Law on PTE

On July 1, 2021, Governor Tim Walz signed into law Minnesota’s FY 2022-2023 State Budget, which includes a new elective pass-through entity (PTE) tax. This allows certain qualifying PTEs, including partnerships, limited liability companies (LLC’s), and S corporations, to...

July 12, 2021
Prevent Conflicts of Interest from Costing Your Business

Without trust between you and your employees, your business probably wouldn’t be very successful. Delegating responsibility, sharing ideas, working as a team — all require a certain level of trust. However, too much trust can lead to occupational fraud and conflicts of i...