Resources

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 […]

Within a period of just a month, a Minnesota woman was charged with skimming more than $300,000 from her animal rescue charity, a Florida man was charged with multiple felonies for running several charities for his personal benefit, and a New York man was sentenced to 18 months in prison for defrauding his trade association employer. Not-for-profit […]

Every fall, CPAs are busy preparing for audit season, which generally runs from January to April each year. This includes meeting with clients, assigning staff, and scheduling fieldwork. Likewise, organizations with calendar year ends should prepare for audit fieldwork. A little prep work this fall can help facilitate the process, minimize adjustments and surprises, and […]

A merger may seem like something that happens in the corporate world, where companies often combine to expand sales territory, gain competitive advantages, and boost profits. But, in fact, mergers between not-for-profit organizations can offer similar advantages, including greater financial resilience and lower expenses. Over the past several years — particularly since the beginning of […]