More not-for-profit organizations are venturing into the cryptocurrency world, but may be unaware of where or how to start. Learning about the benefits, potential risks, and tax regulations can help organizations decide if crypto is the way to go.
If your not-for-profit has over $15,000 in fundraising event contributions and gross income, then it will probably be required to report the events on Schedule G with the 990. Use the PBMares Accounting for Fundraising Events Tool to compile the information needed to complete the reporting on Schedule G.
Were you recently invited to donate to a friend’s Gofundme account, or have you participated in a colleague’s Kickstarter campaign? If so, you are not alone. Crowdfunding, the process of raising small contributions from a large number of people for a specific project facilitated through websites, has exploded over the years.
If you are a board member or volunteer for a local non-profit, you should be aware of Form 990 Return of Organization Exempt from Income [...]