Investment fraud, such as Ponzi schemes, can cause significant financial losses for nonprofit organizations. But the harm it can cause an organization’s reputation with donors and the public may be even worse. Nonprofits are required to disclose on their Forms 990...
Nonprofits
Your Weekly ReadCreate a nonprofit executive search plan before you need it
Selecting a new chief executive or other senior staffer is one of the most important decisions your not-for-profit board is likely to face. Even if there’s no immediate hiring need, it’s smart to prepare for the process. That way, you’ll be ready to execute an...
Nonprofits: Harness the power of the personal appeal
You’ve probably heard it before: People don’t give to causes — they give to those asking on behalf of a cause. That’s why a personal appeal continues to be such a powerful not-for-profit fundraising tool. In fact, requests from friends or family members typically...
When does your nonprofit owe UBIT on investment income?
In recent years, the IRS has increased its scrutiny of not-for-profits’ unrelated business income (UBI). Dividends, interest, rents, annuities and other investment income generally are excluded when calculating unrelated business income tax (UBIT). However, there are...
Why your nonprofit must avoid excess benefit transactions
Not-for-profits that ignore the IRS’s private benefit and private inurement provisions do so at their own peril. These rules prohibit an individual inside or outside a nonprofit from reaping an excess benefit from the organization’s transactions. Violation of such...
Managing the risks of your nonprofit’s events with insurance
Not-for-profit special events can be lucrative from a fundraising standpoint, but they also carry significant risks. Proper insurance coverage can help protect your organization. Special event, special planning Risks associated with special events run the gamut from...
3 types of information your nonprofit’s board needs
Information is power. And regularly supplying information to your not-for-profit’s board of directors is the key to the board properly fulfilling its duties. This doesn’t mean you have to share every internal email or phone message. Board members should, however,...
When workers are classified as independent contractors
As business owners know all too well, hiring an employee costs more than just paying a salary. Employers generally provide benefits to employees, which can be expensive. Moreover, employers must pay a share of Medicare, Social Security, and state unemployment taxes....
Take payroll tax withholding seriously
Employers must withhold income and employment taxes (including Social Security) on wages paid to their employees. The taxes must then be paid over to the IRS according to a payroll tax deposit schedule. Some business owners and executives facing a cash flow crunch may...
Employee or Independent Contractor?
Many businesses use independent contractors to keep payroll taxes and fringe benefit costs down. But using outside workers may result in other problems. The IRS often questions businesses about whether a worker should be classified as an employee or independent...
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