Category: Nonprofit

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...

During the pandemic, your not-for-profit may have been forced to operate without your dedicated volunteers. It has probably come as a great relief to welcome them back in person. However, volunteers, like employees, represent some risk to your organization. For example, you ...

“Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” (Uniform Guidance) applies to all not-for-profits that accept federal funding. It has been updated and amended several times, most recently in 2020. So if you haven’t revi...

It takes more than dedication and enthusiasm for your not-for-profit’s cause and programs to make a good board member. The most critical duty for all board members is being a fiduciary. This means, among other things, that they can be trusted to always act in their nonprof...

Many Americans remain unemployed due to the COVID-19 pandemic — at least 9.8 million at the end of April, according to the U.S. Bureau of Labor Statistics. But that’s expected to change quickly as employers ramp up hiring activities. If your not-for-profit will soon need...

If your not-for-profit organization accepts contributions of nonfinancial assets, such as land, services and supplies, you should know about Financial Accounting Standards Board (FASB) rules approved last year. Accounting Standards Update (ASU), Not-for-Profit Entities (Topi...

Why don’t your nonprofit’s interim and year-end financial statements match? It may come down to cash basis vs. accrual accounting. Here’s how to minimize the need to make adjustments....

No nonprofit’s tax-exempt status is permanent. If you violate IRS rules, you could lose it as well as the loyalty and confidence of donors, grant makers and other supporters of your mission....

Many not-for-profits are just starting to emerge from one of the most challenging environments in recent memory due to the COVID-19 pandemic. Even if your organization is in good shape, don’t get too comfortable. You need to be vigilant about acting on certain warning sign...

Without a whistleblower policy, your nonprofit could learn about illegal or unethical internal activities only after media, law enforcement or regulators do. Adopting a policy is relatively easy. Here’s how....

Everyone knows about the $1,400 checks earmarked for qualified individuals. But what does the American Rescue Plan Act propose for struggling nonprofit organizations? We review the highlights....

How committed is your not-for-profit organization to benchmarking? Perhaps you think it makes sense in the for-profit sphere, but not as much for charities and other nonprofits. If so, you’re probably missing out on benefits. Here’s how to overcome reluctance and learn t...