Tax Brief: Form 990, Schedule G — Fundraising and Gaming Activities
The IRS Form 990, Schedule G provides information about an exempt organization’s fundraising activities and events, including benefit dinners and auctions. The schedule also covers gaming activities conducted by the organization, such as bingo, pull-tabs, raffles, casino nights, card games, … Read more…
Stronger Boards, Stronger Organizations: Watch Our Webinar on Governance & Financial Oversight Essentials for Board Members
Nonprofit success starts with strong leadership. Behind every effective nonprofit is a board that understands its responsibilities, exercises sound financial oversight, and provides strategic guidance that advances the organization’s mission. If you’re looking to strengthen your board’s governance practices and … Read more…
Five Tips for Making Your Nonprofit’s Financial Statement Audit Stress-Free
For many nonprofit leaders, the annual financial statement audit feels like a necessary headache—time-consuming, stressful, and disruptive. But it doesn’t have to be that way. When managed well, an audit is more than a compliance exercise; it’s an opportunity to … Read more…
Quick and Inexpensive Fraud Testing Procedures
Finance Directors and Controllers today are tasked with guarding their organizations against an ever-changing landscape of external threats. But, too often the risks under their own roof can be overlooked. Occupational fraud is a very real threat that can have … Read more…
Protecting your Nonprofit from Cybersecurity Threats
Organizations today face a litany of technological worries when it comes to protecting against cyberattacks. Bad actors can paralyze systems with ransomware, capture sensitive data through phishing schemes, or simply steal data to be sold on the dark web or … Read more…
Five Ways to Protect your Company from Cybersecurity Threats
In today’s connected world, it’s not a matter of if your company will be targeted by cybercriminals, but when. Bad actors can paralyze systems with ransomware, capture sensitive data through phishing schemes, or simply steal data to be sold on … Read more…
Tax Brief: Form 990, Schedule R – Related Organizations and Unrelated Partnerships
The IRS Form 990, Schedule R is designed to provide information about related organizations, certain transactions with related organizations, and certain unrelated partnerships through which the organization conducts significant activities. This article will explore the relevant reporting requirements for each … Read more…
Tax Brief: Form 990, Schedule I Grants and Other Assistance
The IRS Form 990’s Schedule I is designed to provide information about a not-for-profit organization’s giving of grants and other assistance to domestic individuals, governments, and organizations. This includes cash grant awards, non-cash assistance, scholarships, stipends, and other similar payments. … Read more…
Tax Brief: Form 990, Schedule M: Noncash Contributions
From donated clothing to medical supplies to securities, non-cash contributions are a vital form of support of many non-for-profit organization. The IRS Form 990 Schedule M is used to report information about non-cash contributions received by a not-for-profit organization. The … Read more…
Accounting Standard Update for Gifts in Kind
A recent accounting standard update (ASU) for nonprofits has been issued by the Financial Accounting Standards Board (FASB). ASU 2020-07 Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets will be effective for nonprofits with annual reporting periods beginning … Read more…
