Resources

If your not-for-profit’s 2024 plans include international expansion, take care. Rules that apply to U.S.-based nonprofit activities — such as soliciting donations, recruiting members, hiring employees, and selling products — often are different overseas. You need to make sure the desire for your services or products is robust enough in your target countries to justify […]

If your not-for-profit is perpetually shorthanded, you may have decided to engage independent contractors or freelancers to pick up some of the slack. Just make sure you’re collecting the right information from these individuals and filing it with the IRS. Clean paperwork now can save you a lot of headaches — including tax penalties — later. W-9 […]

Financial statements tell investors information about an organization’s financial performance, helping to ensure corporate transparency and accountability. But they can also be used internally to help management make strategic decisions, improve upon past results, and add value. There are three parts to comprehensive financial reporting under U.S. Generally Accepted Accounting Principles (GAAP) — each with […]

If a donor has never asked your not-for-profit to return a gift, it may only be a matter of time. Although uncommon, donors can change their minds. They may come to believe your organization is misusing or wasting donated funds or decide it’s no longer fulfilling its charitable mission. Although you’re probably inclined to cooperate with requests, […]

In recent years, the IRS has increased its scrutiny of tax-exempt organizations. Most not-for-profits that fail to file Form 990 for three consecutive years will have their exempt status revoked automatically. The IRS is also cracking down on nonprofits that don’t properly classify workers as employees, don’t report unrelated business income, participate in off-limits political […]