Holding on to your nonprofit’s tax-exempt status

Apr 8, 2019 | Nonprofits

If you think that, once your not-for-profit receives its official tax-exempt status from the IRS, you don’t have to revisit it, think again. Whether your organization is a Section 501(c)(3), Sec. 501(c)(7) or other type, be careful. The activities you conduct, the...

Is your nonprofit organization ready for a raffle?

Mar 11, 2019 | Nonprofits

A raffle is a great fundraiser for not-for-profits. But they are subject to strict tax rules. State laws on nonprofit-sponsored raffles can vary significantly, but nonprofits must comply with federal income tax requirements linked to unrelated business income,...

Warning! 4 signs your nonprofit is in financial danger

Feb 11, 2019 | Nonprofits

Signs of financial distress in a not-for-profit can be subtle. But board members have a responsibility to recognize them and do everything in their power to avert potential disaster. Pay particular attention to: Budget bellwethers. Confirm that proposed budgets are in...

Financial best practices for religious congregations

Jan 7, 2019 | Nonprofits

Churches, synagogues, and other religious congregations aren’t required to file tax returns, so they might not regularly hire independent accountants. But regardless of size, religious organizations often are subject to other requirements, such as paying unrelated...

Has your nonprofit shifted from overhead to impact?

Nov 19, 2018 | Nonprofits

In the not-so-distant past, charity watchdog groups such as GuideStar, Charity Navigator and the Better Business Bureau’s Wise Giving Alliance were notorious for giving overhead ratios significant weightings in their rankings of not-for-profits. While such a practice...

Using insurance to manage your nonprofit’s risk

Oct 1, 2018 | Nonprofits

Insurance is the cornerstone of any not-for-profit’s comprehensive risk management plan. It can’t protect your organization from every contingency, but it’s critical to protecting the people, property, funds, and support you depend on. Must-have insurance policies...