Is Your Nonprofit Board Designed to Properly Oversee an Audit?
NFPs have always been adept at achieving great outcomes with few resources. This strength was put to the test even more in the past year. Whether an organization received extra funding or not, proper governance and fiscal oversight are more important than ever.
Don’t Overlook Advantageous Provisions of the SECURE Act
Although the 2019 SECURE Act was the most significant retirement plan policy legislation in over 10 years, its provisions have been somewhat in the background due to COVID-19. We've highlighted the following provisions that plan sponsors and employers without a plan may want to consider now.
Section 163(j) and Its Impact on Commercial Real Estate
This article explains Section 163(j) and its implications on small businesses, real estate, and manufacturing, including how taxable income and interest expense are defined under Section 163(j), as well as which business activities fall under 163(j) guidance.
How the New Employee Benefit Plan Auditing Standard (SAS No. 136) Will Impact Plan Audits
Statement on Auditing Standards No. 136 prescribes certain new performance requirements for an audit of financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) and changes the form and content of the related auditor's report. Read more.
Do You Qualify for the Employee Retention Credit?
The Employee Retention Credit (ERC) incentivizes organizations to keep employees on the payroll during COVID-19, and with new rules, it’s possible to claim as much as $14,000 per employee in 2021.
Club Philanthropy: Concepts, Caveats and Case Studies
This third article in Club Director’s Philanthropy in Clubs series takes a more in-depth look into foundations. Three case studies highlight what can go wrong and include the key takeaways to be learned from each example.
