Nonprofits Featured

News for Nonprofits Winter 2022

Survey finds mixed results on public trust A new survey from Independent Sector reveals some worrisome trends regarding the public trust in nonprofit and philanthropic organizations. As the survey report highlights, trust is a necessary condition for many Americans’ support. Examples of nonprofits for purposes of the survey include churches and religious organizations, health and…

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Strategic Planning: Using a “Real-Time” Approach to Guide Your Future

As we move toward a post-COVID-19 economy, it’s a great time to do some strategic planning. And the way nonprofits go about strategic planning may be ready for an update as well. By adopting a more fluid and ongoing approach known as “real-time strategic planning” (RTSP), nonprofits can quickly and efficiently identify, understand and act…

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3 Tips for Getting Your Budgeting Back on Track

The pandemic has wreaked havoc with many nonprofits’ budgets over the past two years. Some organizations have taken a more permissive approach to budgeting, but they can’t afford to continue it indefinitely. If your nonprofit is in this position, it’s time to buckle down. Here are three tips to help you develop the realistic budgets…

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Independent Contractor or Employee: What’s the Current Test?

With a labor shortage and COVID-19-related budget crunches, some nonprofits have turned to freelancers and contractors to fill staffing gaps. But are those individuals actually employees? Employers that misclassify workers can face harsh consequences, so it’s important to know the proper standard. Now is a good time for nonprofits to review the test that has…

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donation tax benefits

What Your Donors Need to Know About Taxes and Contributions

The heightened fundraising needs many nonprofits are feeling right now make it important that potential donors understand the tax benefits they stand to reap. Here are some of the advantages you should convey to encourage their support. Temporary incentives The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted in late March, expands the…

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FASB simplifies merger accounting for nonprofits

FASB Simplifies Merger Accounting for Nonprofits

The Financial Accounting Standards Board (FASB) recently issued guidance that should ease the financial reporting burden on nonprofits that enter “business combinations,” such as mergers and acquisitions. The title of the guidance is a mouthful, but it probably tells you everything you need to know: Accounting Standards Update (ASU) No. 2019-06, Intangibles — Goodwill and…

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nonprofit fundraising contributions

Keep These 5 Points in Mind When Raising Funds

Since the Tax Cuts and Jobs Act (TCJA) was enacted in late 2017, some aspects of charitable giving have changed, but not exactly in the way some nonprofit watchers predicted. Because the TCJA widely reduced the motivation giving contributions to charity, many observers forecast that annual donations might plummet. But so far that hasn’t been…

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gen z volunteer

Philanthrokids: The Next Generation of Donors is Here

It’s not hard to find insights and advice about the importance of appealing to potential donors who are Millennials, Generation Xers and Baby Boomers. But you should also start thinking about the next crop of donors — Generation Z, those born after 1996. Getting to know Gen Z Gen Zers typically are either in school…

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nonprofit publishing UBTI

IRS Guidance for Nonprofits: Publishing Relationship Didn’t Produce UBTI

You’re no doubt aware of the risk of generating unrelated business taxable income (UBTI). But you might not realize that the terms of your relationship with an outside publisher for your membership magazine or journal can trigger the tax on UBTI by creating an agency relationship. Some recent guidance from the IRS sheds light on…

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The treasurer may be your board’s most valuable asset

The Treasurer May be Your Board’s Most Valuable Asset

In many organizations, the treasurer is the board of directors’ hardest working member. Depending on the duties outlined in your organization’s bylaws, this individual might manage cash flow, act as a liaison to outside auditors and craft investment policies. A role this critical to your nonprofit’s financial health should be filled by a highly qualified…

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