Category: Nonprofit

Nonprofit accounting has remained fairly stagnant since the 1990’s but that will be changing over the next few years, specifically with how organizations will now be recognizing revenue. In the past, it was looked at on whether it is an exchange (typically grants initiated...

“What do you mean I have to charge sales tax on my sales?  I’m a tax exempt organization!”  That is a common mistake in the tax exempt community.  In Minnesota, an organization can apply for a formal tax exempt status from the Minnesota Department of Revenue. Form S...

What really is a non-profit organization?  Can they make a profit?  Are donations to them always tax deductible?...