Today we are sharing some thoughts of what you should and should not do to remain compliant as a non-profit organization. Maintaining your Non-Profit status is key to keeping public accountability , and to receiving continued funding for your organization. The information contained here serves as a general guide to what it takes to maintain […]
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Source: 2019 IRS IR-2018-251, December 14, 2018 WASHINGTON — The Internal Revenue Service today issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2019, the standard mileage rates for the use of a car (also vans,
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Standard Mileage Rates for 2018 Up from Rates for 2017 Resource: 2018 IRS Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 54.5 cents for every mile of business travel driven, up 1 cent from the rate for 2017. 18 cents
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Payroll is an essential function of every organization, but it is easy for non-profits to make it a low priority as they strive to meet the organizations mission. Many small nonprofits struggle to meet Human Resources needs, lacking the funding for dedicated HR staff and the experience that comes with it. However, not giving enough
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2017 Standard Mileage Rates for Business, Medical and Moving Announced IR-2016-169, Dec.13, 2016 WASHINGTON — The Internal Revenue Service today issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the
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Everyone in your organization who is responsible for grant management should take the time to review this book to get a basic understanding of what is required to manage your grant and ensure the organization is in compliance with the grantor’s requirements. This includes those who prepare grant proposals and those who record and report
Fiscal Compliance – 2016 FASB Updates Read More »
This can actually happen to you. Your finance committee or board meets. The members are presented with a packet of information that includes financial reports prepared by your accounting department and reports prepared by your development department. As the members review these reports, they notice the contributions from your accounting department do not agree with
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As you may be aware, there have been several changes in due dates for federal tax returns. These changes are generally effective for tax years starting after December 31, 2015 – that is, for 2016 tax returns prepared during the 2017 filing season. These modifications relate mostly to flow-through entities, including partnerships and S corporations
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It is not surprising that many nonprofit board members do not fully understand financial statements—despite the fact that understanding those statements is very important to good governance. In my consulting career with non-profits I have found that so many executives and board member have no clue about financial statements and not being able to read
Non-Profit Trends Reporting Read More »
Non-profits have many challenges, ensuring adequate funding is one challenge but operations can be an equally challenging endeavor. The major interest of funders, donors, board members, communities, beneficiaries, governments or any other interested parties in a non-profit organization is whether the nonprofit has achieved its mission. Managers of nonprofits have the fiduciary responsibility to efficiently
Non-Profit Accounting Challenge Read More »