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Nonprofits are Important to our Community
Nonprofit organizations are essential to our quality of life not only because of the valuable programs they provide local citizens, but also because of the positive economic impact within our local communities.
Nonprofit organizations play a growing role in the social and economic well-being of the United States. They provide services, goods and resources to meet community needs. They are businesses, most often charitable, that assist other businesses in the community to drive economic development, the arts, cultural awareness, education, health, and spirituality — virtually every sector of society. As government agencies and the private sector have scaled back their charitable giving in recent years, nonprofits have become indispensible.
It is very important that your organization remains in compliance with non-profit rules and regulations so you cn continue to be an integral contributor to the health and welfare of our society and be able to give others the means to help those who are not as fortunate as others by giving them reliable resources to help.
Grant Management Non-profit Fund Accounting is a requirement for non-profit organizations that we cannot get around and expect to keep or increase funding for our projects. This site is designed to introduce an invaluable resource to new start-ups, existing organizations, board of directors and others on how to setup and maintain compliance systems for funding sources and donors.
Why is this information Important? Non-profits have very specific compliance and governance regulations. This book will assist in ensuring organizations have the resources and information required to track grant expenditures, create meaningful reporting and maintain records for agency decision making.
Funders require detailed reporting of how grant funds are spent. In addition to deliverables funders review financial statements and budgets to determine if an organization is fiscally sound and spending grant funds according to the agencies stated purpose.
Start-up organizations as well as established charities will benefit from plain and simple illustrations and instruction on how to set up fiscal and document systems, helping to ensure compliance with federal, state, local and private grant makers.
We have made this book affordable to give you the basic information you will need and included in the book are links to free forms for your use. You will gain great insight into the reporting requirements, accounting requirements and you will be able to provide periodic status report on the agency’s health
Recent Posts
How not to Lose Tax-Exempt Status
If a non-profit wants to be exempt from paying federal and state taxes on earnings from endeavors connected to its exempt purpose, it can petition for tax-exempt status on both the federal and state levels. This status makes the non-profit eligible benefits, including: Federal and state tax exemption: Non-profits that have tax-exempt status are exempt
Uniform Grant Guidance
The Uniform Grant Guidance (2 CFR 200) is a set of regulations that govern the administration of federal grants to non-profits in the United States. These regulations are intended to ensure that federal grant funds are used effectively and efficiently to achieve the intended outcomes and objectives of the grant program. One of the main
2023 Mileage Tax Deductions
Source: IRS Standard Mileage Rate 2023 Beginning on January 1, 2023, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 65.5 cents per mile driven for business use, up 3 cents from the midyear increase setting the rate for the second half of 2022. 22 cents
IRS Suspends Mailing
March 25, 2022 IRS Suspends Mailing The IRS is suspending the issuance of several notices generally mailed to tax-exempt or governmental entities in case of a delinquent return. Due to the historic pandemic, the IRS hasn’t yet processed several million returns filed by individuals and entities. The suspension of the notices will help avoid confusion
2022 Mileage Tax Deductions
Source: IRS Standard Mileage Rate 2022 Beginning on January 1, 2022, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 58.5 cents per mile driven for business use, up 2.5 cents from the rate for 2021, 18 cents per mile driven for medical, or moving purposes
2021 Mileage Tax Deductions
Source: IRS Standard Mileage Rate 2021 Employers can use the standard mileage rate to see how much they can reimburse employees for driving their personal vehicle(s) for business purposes. Since the mileage rate is going to be used for claiming deductions and determining the reimbursement amounts, it carries importance. Use the IRS Mileage Rate 2021