New Inclusive Employment Practices in Virginia

Governor Youngkin’s announcement in May provides an alternative hiring process for individuals with disabilities, part of a larger discussion about inclusive hiring practices. Which state agencies are affected and how can they comply?

2022-09-14T13:43:51-04:00September 7, 2022|Categories: Government Contracting, Not-for-Profit|Tags: |

Unrelated Business Taxable Income Reporting for Partnerships

UBTI reporting for exempt organizations can be challenging. Exempt organizations investing in partnerships should ensure that the K1 reporting from the partnership provides the information necessary to ensure correct reporting.

2022-08-26T14:02:16-04:00August 24, 2022|Categories: Not-for-Profit, Tax: Exempt Organizations|Tags: |

Not-for-Profit Investment Policy Statements: Little Changes, Big Impact

Sometimes, a not-for-profit's investment performance isn’t what it should be. Looking at the Investment Policy Statement and identifying corrections can help to improve fund performance and help to ensure investment returns meet their objectives.

2022-08-11T08:23:41-04:00August 11, 2022|Categories: Not-for-Profit, Wealth Management|Tags: , |

How to Register a Charity in Virginia, Maryland, and North Carolina

Starting a nonprofit often requires registering with the state before the organization can fundraise. States like Virginia, Maryland, and North Carolina all have different rules and requirements for nonprofit registration.

2022-09-21T09:18:20-04:00August 4, 2022|Categories: Not-for-Profit, Tax: Exempt Organizations|

Virginia School Tax Credit Program Offers 65 Percent Tax Credit to Individual and Business Donors

Virginia’s tax credit education scholarship program saw its funding fully restored in the new state budget. The EISTC program allows eligible donors to claim a 65% tax credit against five state taxes.

2022-07-28T12:08:57-04:00July 25, 2022|Categories: Not-for-Profit, Tax: Business, Tax: Individual|Tags: |

What’s Going on at the IRS? Problems and Steps to Improve Service

2021 was described as the worst year ever for the IRS. Several compounding problems, exacerbated by COVID-19, led to a historic backlog. Now, the agency is taking steps to improve service.

2022-07-19T08:34:19-04:00July 19, 2022|Categories: Employee Benefit Plans, Not-for-Profit, Tax: Business, Tax: Exempt Organizations|Tags: |

Not-for-Profit Accounting Update: Lease Accounting and Donated Assets (Contributed Nonfinancial Assets)

Many not-for-profits are in the first year of implementing the new lease accounting standard and may need guidance on where to start. Below-market leases or donated space also give rise to another new accounting update to consider.

2022-06-16T11:50:34-04:00June 15, 2022|Categories: Accounting, Not-for-Profit|Tags: , |

Neighborhood Assistance Program FAQs

Individuals, businesses, and other entities can claim valuable tax credits through Virginia’s Neighborhood Assistance Program (NAP) to lower their state tax liability and make an impact on their local community. For organizations, the application window closes on July 1.

2022-08-04T13:23:07-04:00June 1, 2022|Categories: Not-for-Profit, Tax: Business, Tax: Credits & Incentives, Tax: Individual|Tags: |

Succession Planning for Nonprofits

Developing future leaders and mapping out a succession plan in advance is one of the best ways to mitigate the risk of losing key personnel and prepare for the future needs and growth of an organization. This video offers tips and best practices for creating and implementing a succession plan for your nonprofit.

2022-05-18T11:52:54-04:00May 17, 2022|Categories: Not-for-Profit|Tags: |
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