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Donor Information Requirement Going Away for Some Not-For-Profits
Posted by Brenda Booth on Tue, Jul 31, 2018 @ 11:24 AM

Tax-exempt organizations other than those organized under 501(c)(3) or political organizations (under Section 527) will soon be able to leave off donor names and addresses from their Form 990s. The change to the annual tax filings will apply to tax years ending on or after Dec. 31, 2018, according to IRS Rev. Proc. 2018-38. Requirements for 501(c)(3) and Section 527 organizations remain the same. These organizations will continue to report the names and addresses of donors that meet certain threshold requirements as part of their Form 990, Schedule B.

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Topics: Brenda Booth, not-for-profit, Form 990, NFP, 501(c)(3), tax-exempt organizations, Donor Information, Section 527

Should My Not-For-Profit Accept Cryptocurrency?
Posted by Brenda Piazza on Wed, Jul 25, 2018 @ 11:42 AM

By now you have probably heard of Bitcoin and other cryptocurrency – the virtual money traded online using encrypted peer-to-peer software. But, until now, you may not have thought about how the technology could benefit your not-for-profit organization.

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Topics: not-for-profit, NFP, Mark Winiarski, nonprofit, Brenda Piazza, Bitcoin, Cryptocurrency, Blockchain

Increased Thresholds for Micro-Purchases and Small Purchases Effective Immediately
Posted by Michelle Sylvia Spriggs on Tue, Jul 10, 2018 @ 06:01 PM

On June 20, the Office of Management and Budget (OMB) released a memo on new thresholds for micro-purchases and small purchases under the Uniform Grant Guidance. The OMB memo dramatically increased these thresholds, which should simplify purchase processes for not-for-profit organizations receiving federal funds.

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Topics: not-for-profit, Federal OMB Grant, Michelle Spriggs, OMB, NFP, Uniform Grant Guidance, nonprofit, micro-purchase

A Cybersecurity Primer for Not-For-Profit Organizations
Posted by Michelle White on Tue, Jun 26, 2018 @ 03:49 PM

From large organizations to small local associations, cybersecurity is a concern for everyone in the not-for-profit sphere. Yet, because it can often feel like a foreign subject, many organizations aren’t comfortable even describing what cybersecurity is and what it means for their day-to-day operations, which typically means organizations may not be doing what they need to mitigate the associated risks.

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Topics: not-for-profit, NFP, cyber attacks, cyber security, Michelle White

Is Your Form 990 At Risk for an Exam?
Posted by Lisa Burke on Fri, May 11, 2018 @ 10:27 AM

The IRS may be faced with a declining workforce and budget, but it’s still active in monitoring compliance for not-for-profit organizations. In its 2018 work plan, the IRS stressed its data-driven approach to selecting Form 990s to examine. Each filed return is scanned and analyzed on 200 data points. Those meeting certain criteria are flagged for potential exam. Some of those data points include:

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Topics: tax-exempt, not-for-profit, IRS, Form 990, Form 990-EZ, NFP, tax effect, Lisa Burke

Make Your Form 990 A Roadmap for Donors, Board Members, the IRS and the Public
Posted by Lisa Burke on Wed, Apr 11, 2018 @ 02:22 PM

With the May 15th due date for calendar year not-for-profits just around the corner and provisions inthe Tax Cuts and Jobs Act increasing scrutiny on not-for-profits’ executive compensation, employee benefits, and unrelated business income, it’s a good time to take a look at the message your organization’s tax return is sending. In years past, the IRS Form 990 was no more than a compliance task; an annual filing requirement to keep the IRS at bay. After all, there is no tax due, so what’s the big deal?

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Topics: tax-exempt, not-for-profit, IRS, Form 990, Form 990-EZ, NFP, Charity Navigator, GuideStar, tax effect, Amazon Web Services, Lisa Burke

Regulation Round-Up for Not-For-Profits: New Requirements to Monitor
Posted by Brenda Booth on Tue, Mar 20, 2018 @ 07:50 AM

Over the past several months, regulators have released new guidance that will affect not-for-profit accounting and taxes. The following highlights some of the major developments from the end of 2017 and the beginning of 2018.

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Topics: Brenda Booth, not-for-profit, NFP, Mark Winiarski, Form 1023-EZ, Excise Taxes, DAF, tax effect, Donor-Advised Funds

The Time Has Come to Evaluate Your  Not-For-Profit's Executive Compensation
Posted by Hal Wallach on Mon, Mar 19, 2018 @ 02:55 PM

Executive compensation can be a consistent point of contention for many not-for-profit organizations. Many find themselves trying hard to strike a balance between:

  • Paying compensation that can attract and retain the level of talent needed to help the organization fulfill its mission and purpose, and
  • Complying with IRS rules related to paying compensation that is “reasonable”
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Topics: not-for-profit, NFP, executive compensation, retain talent, recruitment, Hal Wallach, not-for-profit salaries

Operating Reserves and the Not-For-Profit Organization’s Budget
Posted by David Brown on Thu, Feb 1, 2018 @ 04:55 PM

Organizations evolve. Operating environments change, and not-for-profit organizations can expect to feel a financial impact from the new tax legislation. Looking at your budget and operating reserves now can help your organization be prepared for what comes next. There are plenty of factors that weigh in on your bottom line, but the need for adequate operating reserves is a significant factor in maintaining financial stability.

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Topics: David Brown, not-for-profit, nonprofit, cash reserves, operating environment, tax legislation

Cybersecurity Risks in the Season of Giving
Posted by Ray Gandy on Wed, Dec 20, 2017 @ 01:53 PM

December is a giving time of year, and not-for-profit organizations may be on the receiving end of some financial gifts. Individuals and businesses have strong tax incentives to make charitable contributions before the calendar year wraps up, and as a result, donations may be flooding in. 

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Topics: not-for-profit, NFP, cyber attacks, Ray Gandy, cyber security, Holiday cyber risks

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