Virginia Unitary Business Report Applies to Some Exempt Organizations

Some exempt organizations will be subject to Virginia’s informational reporting requirement for unitary businesses, due July 1, 2021.

2021-06-15T10:53:47-04:00June 15, 2021|Categories: Not-for-Profit, Tax: State & Local|Tags: |

Reminder: Nonprofit Filing Deadline for Form 990 is May 17

Not all organizations and due dates were affected when the IRS pushed the annual tax filing deadline back to May 17. Tax-exempt organizations with calendar year-ends are thus reminded that Form 990 and other forms are still due on May 17, 2021.

2021-06-03T10:23:29-04:00May 11, 2021|Categories: Not-for-Profit|Tags: , , |

Single Audit Deadline Delayed by Six Months

On March 19, 2021, the Office of Management and Budget issued a memo directing federal agencies to delay, by six months, the deadline for recipient organizations to submit Single Audits. The new deadlines are September 30, 2021 and March 31, 2022.

COVID-19 Relief Money Available for Virginia Non-Public Schools

Non-public schools have an opportunity to apply for federal funding through the Emergency Assistance to Non-Public Schools (EANS) Program. Virginia participates in this program, but administrators should act quickly as the funds are limited.

2021-03-25T16:04:41-04:00March 25, 2021|Categories: Not-for-Profit, PBMares COVID-19 Insights|Tags: , |

More Funding for Not-for-Profits in the New COVID-19 Stimulus Bill

The American Rescue Plan Act's changes to the Paycheck Protection Program make it easier for more not-for-profit organizations to receive funding – but as of now, the deadline to apply for PPP funds remains March 31.

2021-03-17T09:16:43-04:00March 17, 2021|Categories: Not-for-Profit, PBMares COVID-19 Insights|Tags: , , |

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.

2021-03-11T14:29:41-05:00March 11, 2021|Categories: Not-for-Profit|Tags: , , |

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.

2021-03-08T10:06:57-05:00February 25, 2021|Categories: Not-for-Profit, PBMares COVID-19 Insights, Tax: Business|Tags: , , |
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