Category: Nonprofit

The reelection of Donald Trump as President and control of the U.S. Congress by Republicans are anticipated to usher in changes that could financially impact the not-for-profit sector. Whether and to what extent your organization will be affected will depend on your mission,...

Are your not-for-profit’s board members independent? Your immediate response is probably, “of course!” But contrary to what many nonprofit leaders and staffers might think, director independence goes beyond avoiding conflicts of interest. In fact, the IRS has a four-pa...

If your nonprofit has investment income, dividends, interest, rents and annuities, they’re generally excluded when calculating unrelated business income tax (UBIT). However, income from debt-financed property typically is taxable. So it’s important to segregate income fr...

The difference between financial pledges and donations is relatively simple: Pledges are promises to donate sometime in the future, and donations provide immediate support for your not-for-profit organization. What’s not so simple is accounting for pledges. After all, a pr...

Brad, the development director of an international environmental charity, was thrilled to learn from a fundraising staffer that one of the charity’s past supporters was promising to make a new, six-figure donation. But there was a catch: The donor was going to attach restr...

During the COVID-19 pandemic, Congress temporarily enabled individual charitable donors who didn’t itemize federal income tax deductions to deduct up to $300 in contributions in both 2020 and 2021. This universal charitable deduction galvanized many donors who might not ot...

Recently, the Charities Division has made a significant change to the banking information requirements for registration and annual report forms. This change is aimed at enhancing security measures while still fulfilling the enforcement needs of the Attorney General's Office....

One thing every new not-for-profit organization can count on is change. Ideally, the changes you experience will be for the better — expanded programming, increased staffing, more clients served and greater overall impact in your community....

As a nonprofit organization in Minnesota, leveraging in-kind services can be a game-changer for your operations. These contributions, which come in the form of goods or services rather than money, can significantly reduce costs and enhance your ability to fulfill your missio...

Cross-training staffers to do one another’s jobs isn’t a new idea. But it can be a simple and effective way to boost your nonprofit’s resilience to unplanned and potentially harmful events....

The IRS strictly prohibits self-dealing between private foundations and “disqualified persons.” But how are these terms defined? Among people who are considered disqualified are large donors, foundation managers or owners, substantial owners of major donor corporations, ...

The deadline for calendar-year not-for-profits to file Form 990 with the IRS has come and gone. But it’s never too early to think about reporting responsibilities for the next deadline. Be careful to keep records of fundraising expenses, which you must report on Schedule G...