Skip to menu
Skip to content

Supporting Your Faith with Fiscal Accountability

Business charitable contribution rules have changed under the CARES Act, use it to your advantage!

In light of the novel coronavirus (COVID-19) pandemic, many small businesses are interested in donating to charity. In order to incentivize charitable giving, the Coronavirus Aid, Relief and Economic Security (CARES) Act made some liberalizations to the rules governing charitable deductions. By helping spread knowledge of these changes, it might make pulling in necessary donations […]

Here’s how to handle gifts in kind and donated services

As unemployment and financial insecurity become widespread during the novel coronavirus (COVID-19) crisis, many not-for-profit donors find themselves unable to provide monetary support to favorite charities. Instead, your organization may receive offers of gifts in kind (GIK) or donated services. Although you likely welcome these gifts, you may be unsure about how to record and […]

Surviving the COVID-19 crisis: A nonprofit action plan

Although most not-for-profits have been hurt by the coronavirus (COVID-19) pandemic, your organization’s specific challenges probably depend on your mission, constituency and other factors. For example, social distancing rules have forced most arts organization to temporarily shut down and furlough employees. Many social services charities, on the other hand, have remained open and are struggling […]

CARES Act offers new hope for cash-strapped nonprofits

On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. How is this massive $2 trillion recovery package poised to help your not-for-profit organization? It depends on your group’s size, financial condition and other factors. But most nonprofits affected by the coronavirus (COVID-19) outbreak are eligible for some relief under […]

Improve Your Non-Profit’s Strategic Planning With A “Real-Time” Approach

Real-Time Strategic Planning (RTSP) offers not-for-profits a fluid approach to identifying, understanding and acting on challenges and opportunities to advance their missions. Is this process right for your organization? Let’s take a look. What is it, exactly? RTSP was first introduced by nonprofit consultant David La Piana as “a coordinated set of actions designed to […]

A key fiduciary duty of your not-for-profit’s board of directors is to oversee and monitor the organization’s financial health. Some financial warning signs — such as the loss of a major donor — may jump out immediately. But other red flags can be more subtle. Here are some of them. Budget issues Certain budget-related issues […]

Conflict-of-interest policies are too important for nonprofits to neglect

Does your not-for-profit organization have a conflict-of-interest policy in place? Do your board members, trustees and key employees understand how the policy affects them? If you answer “no” to either (or both) of these questions, you have some work to do. A duty Nonprofit board officers, directors, trustees and key employees all must avoid conflicts […]

Keep your nonprofit afloat with a leadership succession plan

  If your top executive were to step down tomorrow, would your not-for-profit know how to make a smooth leadership transition or would your boat suddenly be rudderless? Research by the nonprofit BoardSource has found that only 27% of charitable organizations have written succession plans. Most nonprofits, therefore, face an uncertain future — one that […]

New restructuring rules may reduce a nonprofit’s filing burden

  Is your not-for-profit thinking about merging or otherwise restructuring? Recently, the IRS made the process easier for some organizations. Revising old rules Under previous IRS rules, tax-exempt organizations were required to file new exemption applications when they made certain changes to their structure. Each change was seen as creating a new legal entity that […]

Wishing you a healthy, happy, and prosperous 2020!

Next Page »