Nonprofits

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Recent Incidents Fuel Concerns over Breach Response

Could your data be hacked? Unfortunately, every organization — including for-profit businesses, not-for-profits and government agencies — is vulnerable to cyberattacks…

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A Checklist of Duties with Tax and Governance Implications

Documentation and accountability are always important in business, but even more so for a not-for-profit agency. The sheer number of duties…

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Yes, You Do Need Investment Policies

So you think investment policies are only for not-for-profits with millions to invest? Not true. If your organization holds funds in…

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Consider a 403(b) Retirement Option for Your Staff

Employer-sponsored plans play an increasingly significant role in retirement planning as individuals worry about the future of Social Security and their…

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Documents You Must Keep for Tax Purposes

In the event of an IRS audit or questions about your organization’s tax return, you need to have documentation to back up reported amounts of income and expenses. Otherwise, you could risk losing your tax-exempt status. Click “Full Article” for a list of the documents to keep and how long to hold on to them.

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Could Your Organization Fall Victim to Embezzlement?

Embezzlement is one of the most devastating crimes committed against employers. It often goes undetected for long periods of time because the perpetrators are trusted. Click “Full Article” to see how not-for-profits have become victims of embezzlement schemes, as well as some steps your organization can take to prevent and detect internal theft.

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The Value of Donated Property Is in the Eye of the Marketplace

Do you struggle with valuing non-cash and in-kind donations, including the value of houses or other buildings? Even though the amount that a donor can deduct generally is based on the donation’s fair market value (FMV), there’s no single formula for calculating FMV for every type of gift, as this article explains. When donors need to obtain an appraisal also is discussed.