nonprofit
Economic, social and political events in 2024 have the potential to negatively influence your not-for-profit’s budget. So if you generally prepare static budgets well in advance of each fiscal year,…
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If your not-for-profit is perpetually shorthanded, you may have decided to engage independent contractors or freelancers to pick up some of the slack. Just make sure you’re collecting the right…
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If your not-for-profit’s 2024 plans include international expansion, take care. Rules that apply to U.S.-based nonprofit activities — such as soliciting donations, recruiting members, hiring employees and selling products —…
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Has your nonprofit had an outside audit recently? If so, did your organization act on the findings? The cost of not responding to audit results can be steep. Read on…
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Tax-exempt status isn’t necessarily forever. It may not happen frequently, but the IRS does revoke the status when nonprofits engage in substantial disqualifying or nonexempt activities. In fact, the agency…
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Will the U.S. Senate streamline the grant process? A bipartisan bill introduced in the U.S. Senate in July 2023 would help simplify the administration of grant programs across the federal…
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The IRS has released new guidance on excess benefit transactions (EBTs). So-called disqualified persons and organization managers who engage in such transactions with nonprofits face stiff excise taxes — also…
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Sponsorship and advertising dollars can provide a real boost to your not-for-profit organization’s income. However, if sponsors or advertisers receive a “substantial benefit” or if providing benefits isn’t a related…
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Despite many predictions to the contrary, U.S. employers have continued to add workers to their payrolls and the unemployment rate has remained low — at 3.7% as of November 2023,…
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Charlotte thought she knew everything about running a not-for-profit community hospital. So the CEO was shocked when the IRS contacted her hospital about potentially losing its tax-exempt status. The IRS mentioned…
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