In this episode, we discuss some questions your for-profit or nonprofit organization should ask an accounting firm before working together.
In this episode, we provide pointers on the process for an NFP to get its federal tax exemption (501c3) and how to stay exempt.
There is a new emphasis and an upcoming required change in how your NFP financials will present and disclose gifts-in-kind. Accounting Standard ASU No. 2020-07 has mandated this change. It will be effective for annual periods beginning after June 15, 2021. This Accounting Standard improves transparency for gift-in-kind transactions by requiring the following:
As a nonprofit, it’s important to utilize stories so that donors and supporters feel connected to the mission and can see the impact your organization has in the world.
A discussion on employee vs independent contractor classification from a worker's perspective and an employer's perspective.
There are many reasons why nonprofits struggle to stay financially stable, but even more reasons they should strive for that stability.