Final IRS regulations will require most social clubs and tax-exempt organizations to rework their unrelated business taxable income worksheets to avoid using an outdated expense allocation method.
The application of sales and use tax to the activity of exempt organizations is complex and nuanced. State tax and exempt organizations specialists explain what you need to know.
There’s a lot of economic uncertainty at the moment. So, with the private club industry's overall health at its best in a while, how do clubs keep the momentum?
Investment Policy Statements dictate how a nonprofit’s investment program operates. How is performance measured? Learning how to benchmark and measure success and organize the investment committee helps to ensure investment committee members satisfy their fiduciary duties.
Every not-for-profit manages funds, but not every organization has an established and well-documented Investment Policy Statement. Learn how the investment committee can review the IPS and safeguard against unnecessary investment risk.
The use of an “Employee Hardship and Disaster Relief Fund Program” is one way to get money donated by members out to employees quickly and tax-free. This article explores the eligibility requirements clubs need to meet to ensure the funds can qualify as tax-exempt distributions,
The unemployment rate for leisure and hospitality, 10.1 percent, is nearly twice the national average. However, there are Help Wanted signs everywhere and a bountiful number of job postings. How are private clubs responding to this challenge?
Most state and local governments have been lifting COVID-19 restrictions, leaving club management wondering how and if they still qualify for the ERC, especially in the quarter that restrictions are lifted.
While many clubs have gifting programs that are not tax advantaged, this article focuses on some typical club foundations that provide an incentive to their members to get involved in various initiatives that qualify for favorable tax treatment by the IRS.
The American Rescue Plan Act (the Act) s provides a number of items to help aid economic recovery out of the coronavirus pandemic. Read on for a summary of the Act's provisions.