Not-for-profits have at least one thing in common with for-profits: Only the strong survive.
In the News
Thursday, July 29, 2021
Thursday, July 15, 2021
Email messages have become a sweet spot for many not-for-profit organizations.
Thursday, July 1, 2021
You know the drill: It's midnight and your grant proposal is due tomorrow. Your assistant left hours ago and the words on your screen have started to blur. "It's not worth it," you think. And besides, only a few grants pan out anyway, right? Not necessarily.
Thursday, June 17, 2021
Internal fraud drains approximately $4 trillion annually from global businesses, and not-for-profit organizations aren't exempt. The median loss suffered by a nonprofit victimized by fraud was $75,000, according to the 2020 Report to the Nations by the Association of Certified Fraud Examiners (ACFE).
Thursday, June 3, 2021
Debt is an integral part of the strategic plans of many organizations, yet it has traditionally carried a stigma in the not-for-profit industry. That view is changing, as more organizations borrow money for major capital purchases, new program funding — even to manage current cash flow.
Thursday, May 20, 2021
Games of chance like bingo and raffles are often synonymous with tax-exempt organizations. However, the income from such "gaming" activities operated by charities is not automatically tax-free. The IRS has provided more insight into the key rules in this area in its Publication 3079, Tax-Exempt Organizations and Gaming.
Thursday, May 6, 2021
Accurate, relevant and timely financial information is key to making good decisions for not-for-profit executives and board members. But do all of your board members really understand the numbers they receive and what they mean to your organization? Here's how to find out and what you can do to get board members up to speed.
Thursday, April 22, 2021
To qualify as a tax-exempt entity, a not-for-profit organization must comply with certain federal income tax laws. And to prove compliance, you must maintain records. There's no required recordkeeping system. In fact, your organization can choose any system that suits its activities and clearly shows your income and expenses.
Thursday, April 8, 2021
Organizations that are created to provide goods or services exclusively (or primarily) to Section 501(c)(3) organizations (or governmental entities) may think that this purpose is sufficient to also qualify them under tax law. However, providing commercial type services exclusively to exempt organizations is not by itself an exempt purpose. Much more is required for qualification under the rules of Internal Revenue Code Section 501(c)(3) than just having a mission to assist charitable organizations.
Thursday, March 25, 2021
Documentation and accountability are always important in business, but possibly even more so for not-for-profits. The sheer number of duties can be daunting. That's why it's critical to have tools that allow you to stay on top of the details.