Charitable organizations can take advantage of provisions in the tax code that exempt them from federal income tax and other types of tax obligations. This leaves charitable organizations free to...
The Financial Accounting Standards Board (FASB) routinely updates its standards on a variety of issues. Controllers, accountants and others must remain updated on the latest developments to make sure...
Tracking and managing finances is incredibly important for any organization—even a nonprofit one. Part of minding finances as a nonprofit is engaging in effective cash management. Fortunately, there...
Nonprofit organizations with 501(c)(3) status may be exempt from federal (and possibly state) income taxes. However, this does not mean that these organizations cannot be audited by the Internal...
In September 2023, the Department of Labor (DOL) proposed new regulations under the Fair Labor Standards Act of 1938 (FLSA). The proposed changes will have far-reaching impacts on many businesses...
Nonprofit organizations must often look for creative ways to optimize resources and cut costs, particularly in today's challenging economy. One potential way in which many nonprofits are doing that...
The board of a nonprofit organization has tremendous responsibilities. Board members should ardently support the organization’s purpose, but zeal is not the only important quality. Diversity among...
The Inflation Reduction Act (IRA) of 2022 contains numerous provisions that create or expand tax incentives for the use of and investment in clean energy technologies. In the past, these benefits...
The Accelerating Charitable Efforts Act was introduced in 2021 as a proposed means of reforming tax laws related to charitable donations, private foundations and Donor-Advised Funds (DAFs). For...
The New Markets Tax Credit (NMTC) was established in 2000. The credit has been used to incentivize investors to finance and start projects in low-income communities. New investments in these areas...