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: , , |

What’s Your Not-for-Profit’s Liquidity Policy?

It’s time to re-evaluate what liquidity actually means and how well-crafted policies can improve an organization’s operations, finances, and be a tool for educating the public, the Board, and management.

2021-02-25T09:27:22-05:00February 11, 2021|Categories: Audit & Assurance, Not-for-Profit|Tags: , , |

List of COVID-Related Grants Triggering Single Audits

Funding received from state or local governments may have originated in the Cares Act and may only be pass-through funding. Thus, the entity may be subject to a single audit requirement. Here is a list of CARES Act- and COVID-19-related programs that could trigger a single audit.

Expanded Funding and Tax Benefits for Not-for-Profit Organizations in COVID-19 Relief Bill

Not-for-profit organizations have been a source of hope and resources for the communities they serve, but many are still struggling with the effects of COVID-19. The latest round of stimulus relief allocated $900 billion to ongoing COVID-19 relief measures, many of which stand to benefit not-for-profits.

2021-01-26T10:24:37-05:00January 26, 2021|Categories: Not-for-Profit, PBMares COVID-19 Insights, Uncategorized|Tags: , |

Is Your Not-for-Profit Organization’s COVID-19 Funding Triggering A Single Audit?

Part of the recovery funding for many not-for-profits has come from grants. While these funds have directly helped not-for-profits keep their doors open, many executives may not realize that some of these funds could trigger a single audit.

2021-04-22T15:03:27-04:00January 19, 2021|Categories: Audit & Assurance, Not-for-Profit, PBMares COVID-19 Insights|Tags: , , |

A New Way to Deduct Your #GivingTuesday Donations

The Tax Cuts and Jobs Act significantly reduced the number of taxpayers who itemize deductions (meaning those who actually see a tax benefit for donations made) beginning with the 2018 tax year. 

2021-05-06T08:33:28-04:00November 30, 2020|Categories: Not-for-Profit, Tax: Individual|Tags: , |
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