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 […]
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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
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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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Budget for Government Grants Posted: June 6, 2009 Shawn H. Miller, CPA, CFE Calibre CPA Group PLLC This article was posted by Mr. Miller on the Non Profit Accounting Basics website in 2009 and is still very much prevalent today. When you receive a grant from a governmental agency, it will typically include a program
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The Traditional Structure of a Non-Profit agency is shown in the image. Your organizational chart may look different depending on the age of the agency, the purpose the agency serves and of course, the agency’s budget. The budget comes into consideration because you will need the necessary funding to support the paid positions in the
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