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Three Ways to Ensure Your Sponsorship Avoids UBTI
Posted by Richard Scoresby on Tue, May 27, 2014 @ 09:12 AM

Qualified sponsorship payments (QSP) often play a key role in funding not-for-profits and bring mutual benefits to both the not-for-profit organization and the sponsoring company. The not-for-profit receives tax-exempt funding that eases budgetary pressures, and the sponsoring company can demonstrate its commitment to a charitable cause. Not-for-profits should be careful with sponsorship arrangements, however, because if certain precautions are not taken, there can be tax implications.

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Topics: Richard Scoresby, UBTI, unrelated business taxable income

Maximize Your Not-for-Profit’s Social Media Presence in Five Easy Steps
Posted by Chrissy Hammond on Wed, May 21, 2014 @ 09:13 AM

Authors: Amanda Markos and Chrissy Hammond

Not-for-profit organizations today need innovative practices to spread core messages to potential donors, while keeping costs in check and reaching as wide an audience as possible. With its continued growth and success, businesses and organizations are now incorporating social media into their long-term marketing initiatives.  

Not-for-profits are using social media to broadcast their story and mission, increase awareness and share success stories to a large scale community at a minimal cost.

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Topics: non-for-profit, social media, Amanda Markos, Chrissy Hammond

OMB Makes Sweeping Changes to A-133 Audit Requirements
Posted by Chrissy Hammond on Mon, May 19, 2014 @ 03:58 PM

As part of the push for federal grant reform, the U.S. Office of Management and Budget (OMB) recently finalized changes to Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. The OMB released the changes in December 2013 in its guidelines,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” (Uniform Grant Guidance).

The changes reflect some of the most significant reporting updates for organizations that receive federal grants since the creation of the A-133 Single Audit. Eight OMB Circulars, including A-133, have been combined into one “super circular” that takes effect for organizations beginning with December 31, 2015 year-ends. Now considered Subpart F of the Uniform Grant Guidance, A-133 requirements underwent a number of changes to allow for more regulatory focus on larger, riskier programs and organizations. Changes to audit requirements accompanied these updates. A more detailed explanation of some of these changes follows. Organizations subject to A-133 requirements should note the full list of updates to the OMB Circulars and consider their impact on future audits.

Threshold for Single Audit

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Topics: audit, A-133, Lisa Wills

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