Nonprofit Deadlines to Remember
There are important nonprofit deadlines to remember for organizations with a year-end of December 31, 2023. Read more for a complete list of due dates.
Charitable Deductions of Non-Cash Items — When Are You Required to Substantiate?
Numerous reputable charities embrace various kinds of assets or property (e.g., clothing, household appliances, furniture, artworks, and etc.) to support their charitable mission. The non-cash charitable contributions, however, must satisfy rigorous substantiation criteria to qualify for the deduction. Read more.
What is Unrelated Business Income Tax (UBIT)?
An exempt organization is required to file Form 990-T when it has $1,000 or more gross income from unrelated business. An organization must pay estimated tax if it expects its tax for the year to be $500 or more. Read the full article to learn more.
In-Kind Donations – What are They and Should They be Recorded?
Non-profit organizations often rely on in-kind donations of various types to carry out their mission. Should these in-kind donations be recorded in your accounting records? Find out more.
Succession Planning for Nonprofits
There are many risk management strategies to safeguard sustainability of a nonprofit organization, one of which is succession planning. Succession planning is a duty of the board of directors and management of a nonprofit. Read more.
Pledges & Grant Receivable Bookkeeping
Making sure to keep up with pledges and grant receivables will allow management and the board of directors to clearly see the financial status of the Organization. Find out more by reading the full article.
Requirements and Steps to Drafting Bylaws
Nonprofit Bylaws are an important component to helping a nonprofit organization run smoothly, as they provide a guide for both employees and the Board of Directors. Learn more.
How to Attract Qualified Professionals for Your Board of Directors
Board Members are responsible for maintaining the integrity of an organization and finding the right board members is vital for the organization to effectively serve its purpose. Learn more.
What Happens When a Donor Wants Money Back?
Whether or not nonprofit organizations can refund a donor’s contribution, however, depends on the size of the gift, the state’s regulations, and the impact of returning the gift. Learn more.
Responsibilities of the Board of Directors
A Board of Directors is legally responsible for the operation of the nonprofit organization for which it serves. In fact, individual members can be held personally liable for improper conduct if they breach their duties. Learn more.