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House Sets Stage for Biden Tax Plan by Passing $3.5 Trillion Budget Resolution
Posted by Nate Smith, Bill Smith, Eric Strawder on Mon, Aug 30, 2021 @ 11:30 AM

The House of Representatives passed a fiscal 2022 budget resolution (H. Res. 601) on Aug. 24 that paves the way for President Biden’s “Build Back Better” (BBB) plan to be passed into law, potentially by the end of September.

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Topics: Not-for-Profits, NFP, nonprofit, House of Representatives, senate, Not-for-profit trends, COVID19, COVID-19, Joe Biden, American Families Plan, Build Back Better, AFP, President Biden, Green Book, Treasury Department’s Green Book, BBB Plan, budget, infrastructure act, Infrastructure Investment and Jobs Act, democrats

Main Street Index: Not-For-Profit Industry Report
Posted by Mike Burns on Thu, Aug 26, 2021 @ 11:30 AM

The CBIZ Main Street Index report takes the pulse of organizations like yours and provides useful data and insights for your organization to leverage. The information below highlights the data from Main Street Index for the Not-For-Profit Industry. See how your organization compares to other not-for-profits in the areas of revenue, growth areas, and workforce arrangements. 

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Topics: NFP, nonprofit, Nonprofit Board, COVID-19, Paycheck Protection Program, PPP, higher education, ERTC, health and human services, revenue, emergency disaster loans, post-pandemic, hybrid, main street index results

The Higher Education Sector Is in the Crosshairs of Cyber Criminals
Posted by Ray Gandy on Thu, Jul 29, 2021 @ 12:00 PM

Higher Education continues to be an attractive target for cyber criminals. In July 2020, Comparitech reported that 1,327 data breaches in the education sector had resulted in the exposure of 24.5 million records since 2005. Higher education accounted for three-quarters of those breaches. Why not, with the gold mine of data that pays the bills for cybercrime, including students, families, employees, faculty, partners and donors’ information?

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Topics: enterprise risk management, Chief Financial Officers, CFO, NFP, board members, cybersecurity, cyber risk assessment, nonprofit, Nonprofit Board, cyber attacks, Ray Gandy, risk assessment, higher education, NIST

New Compliance Supplement Key Takeaways
Posted by Michelle Sylvia Spriggs on Tue, Jul 27, 2021 @ 11:46 AM

On July 27, 2021, the Government Audit Quality Center of the AICPA announced that the initial 2021 compliance supplement relative to federal awards is expected to be released in August 2021. This should resolve much of the ambiguity around major program determination and testing requirements for this year. The key take-away points are as follows:

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Topics: AICPA, NFP, nonprofit, Nonprofit Board, COVID19, higher education, SEFA, health and human services, HEERF, Provider Relief Funds, compliance supplement

Massachusetts Not-For-Profits: Form 3ABC is Due on 3/1
Posted by Jenna Peabody on Tue, Feb 16, 2021 @ 09:42 AM

Organizations should be gearing up to file the Massachusetts “Return of Property Held for Charitable Purposes” (State Tax Form 3ABC). If you are a Massachusetts-domiciled charity that owned real or personal property as of January 1, you must file Form 3ABC by March 1 of that year to receive a local tax exemption for the fiscal year that begins the next July 1.

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Topics: Massachusetts, non-for-profit, Non-profits, Form 3ABC, nonprofit, form PC, 3ABC

Campus Is Shut Down – What Can Be Done to Maximize This Time?
Posted by Mark McCarthy on Mon, May 11, 2020 @ 12:55 PM

Summer started early for university campuses across the country. Many closed their campuses well in advance of the end of the semester in efforts to protect students and faculty from the COVID-19 pandemic.

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Topics: non-for-profit, Non-profits, nonprofit, Mark McCarthy, CCR, Construction, Construction Cost Review, Coronavirus, COVID-19

403(b) Restatement Deadline Extended Due to COVID-19
Posted by Diane Caron on Tue, Apr 28, 2020 @ 08:38 PM

On March 27, 2020 the Internal Revenue Service (IRS) extended the mandatory 403(b) plan document restatement deadline from March 31, 2020 to June 30, 2020 due to the current COVID-19 pandemic. All organizations that sponsor 403(b) retirement plans must restate their plan documents by this new date using either the IRS’s pre-approved document or an individually designed plan document.

Not-for-profit organizations have an opportunity during the restatement period to align their retirement plan procedures with their written plan documents to help ensure that their retirement plans are following best practices. Changes may need to be made to the operations of the plan, the provisions in the plan documents, or both. The following can help organizations with their review process.

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Topics: not-for-profit, IRS, 403(b), NFP, nonprofit, 403(b) Plan Document Restatement, Department of Labor, DOL, Internal Revenue Service, COVID-19, extension, deadline

Coronavirus Capital Assistance and Disaster Relief Fund Guide for Not-For-Profit Organizations
Posted by Bernard Kaplan on Mon, Apr 27, 2020 @ 11:30 AM

In response to the financial damage related to the COVID-19 pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among its other provisions, the CARES Act enhanced lending programs and offerings for not-for-profit organizations, which have particularly been affected by the stay-at-home orders and financial uncertainty caused by the coronavirus disease.

There are several loan programs available that may benefit your organization. We have compiled some frequently asked questions to help capture information on how your not-for-profit can take advantage of the relief provisions.

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Topics: Bernard Kaplan, nonprofit, Coronavirus, COVID-19, Main Street Lending Program, Economic Injury Disaster Loan Funding, EIDL, disaster relief, loan

6 Tips for Building a Resilient Charitable Contribution Plan for 2020
Posted by Amy O’Loughlin on Wed, Nov 20, 2019 @ 01:11 PM

The landscape has shifted for charitable giving. As individuals feel the effect of the Tax Cut and Jobs Act (TCJA) of 2017 on their personal tax situation, charities making requests for donations will need to respond in kind. Development departments are having to adjust their “ask” to meet the challenges brought on by the reduced tax incentive to make charitable gifts. Donors often respond with their hearts and minds when giving to their favorite causes, but financial reality will play an important role when deciding where to spend their limited charitable dollars.

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Topics: charitable donations, Amy O’Loughlin, Not-for-Profits, nonprofit, benchmarking, charitable giving, Charitable contribution planning, TCJA, donors, artificial intelligence

Not-For-Profits Wanting to Reduce Spend? Take a Look at Contracts
Posted by Mark McCarthy on Tue, Sep 24, 2019 @ 12:22 PM

Not-for-profit organizations must be vigilant and careful shepherds of their monetary resources. Sometimes sound financial management takes some outside-of-the-box thinking. Not-for-profits do not have the same avenues to offset rising operational costs that for-profits might. They cannot, for example, raise additional revenue through price increases, product or packaging enhancements, or even service line extensions.

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Topics: non-for-profit, Non-profits, nonprofit, Mark McCarthy, CCR, Construction, Construction Cost Review

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