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.
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.
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.
As leasing standards transition from ASC 840 to ASC 842, the Financial Accounting Standards Board has outlined an implementation plan for the rollout. The new standard is now effective for all organizations with financial statement years beginning after December 15, 2021. Read more.
There are deadlines that may be applicable to nonprofit organizations with a year-end of June 30, 2023. Read more about deadlines to remember.
Are you confident you are doing everything you can to minimize your income taxes? If not, it may be time for a fresh look. Click above to check out the 2022 Tax Planning Guide.
The filing requirements for nonprofits can vary greatly depending on the state in which the non-profit resides. In North Carolina, the obligations aren’t as extensive as some other states. Find out more.
For many years, nonprofits received charitable donations through mail or in person delivery. In recent years, it has become more convenient to make donations to nonprofits online. Learn more about the risks related to online donations.
Whether you are experienced or new to the field, every nonprofit professional should stay up to date with the industry changes and the resources available. Read more for a list of the top nonprofit resources.
2023 is well underway and not-for-profit organizations can expect to face challenges both new and familiar. Read more about the key issues nonprofits often face and suggestions on how to address them.
