A nonprofit’s main focus is to carry out its mission to the best of its ability yet there’s one thing that cannot be lost in the desire to do good: A fiduciary responsibility to its funding sources and the community to use those resources efficiently and responsibly. All nonprofits have three to four, depending on […]
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Revocation of Federal Tax Exemption at Historic African-American Theater Holds Warning for Others Source Non Profit Quarterly May 12, 2016; Plain Dealer (Cleveland, OH) In April, leadership of Karamu House, a settlement house that includes the oldest African-American theater in the United States, suddenly became aware that the IRS had revoked its tax-exempt status after
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Allocating Expenses Expenses are allocated to show the total cost of operating your program(s) that include activities, services, and projects related to a specific program. It is very important for the Executive Director, Board of Directors and other agency management to know the total costs of running the program so all can see how the
Fund Accounting Non-Profit Expenses Read More »
As noted in our post “Board of Directors Responsibilities” being a Board Member is a very integral component of the executive order in the non-profit and should not be taken lightly. The full participation of an active and qualified board will help to ensure the organization is in compliance and that the organization is prepared
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Learn more about Non-Profit Accounting at From churches to youth organizations to the local chambers of commerce, nonprofit organizations make our communities more livable places. Unlike for-profit businesses that exist to generate profits for their owners, nonprofit organizations exist to pursue missions that address the needs of society. Nonprofit organizations serve in a variety of
Differences between Nonprofits and For-Profits Read More »
I thought this to be a very helpful article from Non-Profit Quarterly for both start-up Non-Profits and established Non-Profit Organization. I hope you find some very useful information here that will give guidance to Executive Directors, Board of Directors and anyone in a management postion at your organization. M. Letha Daniels There is nothing like
Self-Coaching Strategies for Nonprofit Leaders Read More »
New research data on employment, wages, and establishments – February 2016 – BLS recently developed research data on nonprofit organizations, including employment, wages, and the number of establishments. These new data provide insights into this important segment of the U.S. economy. Nonprofit employment, total annual wages, and the number of establishments grew steadily each year
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Did you know that not all Non-profits and Charitable Organizations are Tax Exempt. To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes set forth in section 501(c)(3), and none of its earnings may inure to any private shareholder or individual. In addition,
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