Struggles within a not-for-profit's accounting department drain time and resources that could be used to focus on achieving the core mission of the organization. Outsourced accounting can be a powerful solution.
Private foundations generally may not engage in transactions with disqualified persons, even under terms that are favorable to the private foundation.
Check fraud is on the rise. An online banking feature called positive pay is an effective tool to prevent or minimize check tampering, and all nonprofits can use it.
Donations to charity fell to $499 billion last year, a 3.4% decrease from 2021.
There are many misconceptions about artificial intelligence. Here are five common myths to debunk about nonprofits and AI.
Two previous articles in this series went into detail about how nonprofits can incur taxable income from advertising or sponsorship sales, and how different the taxable impact can be depending on the relationship of certain costs to certain types of income. There is another important consideration of UBTI and advertising: allocable membership receipts.
Nonprofits can generate revenue from their periodicals through advertising; while this type of revenue is considered to be an unrelated trade or business activity, it might not always be taxable. The key is to understand the relationship between certain costs and types of income.
Nonprofit organizations can still qualify for the employee retention tax credit from 2020 and 2021 if they meet certain eligibility rules.
Nonprofits can run into issues when they accept advertising or sponsorship dollars if they don’t know the rules of unrelated business income tax. Knowing the difference between the two scenarios can help to minimize or manage tax liability.
Tax-exempt entities may monetize credits under the Inflation Reduction Act under these rules that the IRS released.