Nonprofit general
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Accelerating Charitable Efforts Act and Two High Profile Charitable Vehicles
By Michaela Cromar and Laura J. Kenney There are two charitable contribution vehicles that have been driving a great deal of controversy in the philanthropic and tax worlds lately: donor advised funds and private foundations. Donor Advised Funds – Warehousing or Green Housing? Critics of donor advised funds call it “warehousing” of charitable contributions; […]
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ERC for Tax-Exempt Orgs: A Miniseries – Part I
By Kelsey Vatsaas and Laura J. Kenney ERC: The latest and greatest In this first episode of our miniseries on employee retention credits (ERCs) for nonprofits, instead of starting at the very beginning on the topic, we wanted to highlight recent tax guidance – which has a pleasantly surprising twist! Paycheck Protection Program (PPP) forgiveness […]
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ERC for Tax-Exempt Orgs: A Miniseries
Employee Retention Credits (ERC) have been a hot topic in 2021 (just about as fun to follow as fan favorite series, Ted Lasso, for all of the feel-good comedy/sports loving accountants out there). However, limited guidance, PPP overlaps, and a lot else going on have put the credits on the back burner for many nonprofits […]
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Board Member Fiduciary Duties
Reviewing financial information and directing how funds should be used is only a portion of fiduciary duties vital of board members. Check out what other responsibilities are critical of board members.
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Associations and Business Leagues – Focus on Unrelated Business Income
Associations and business leagues are resource centers, advocates, and thought leaders of their respective industry membership groups. However, tax-exempt associations and business leagues often have a surprisingly disproportionate number of complex tax issues to manage. In addition to tax considerations regarding lobbying, compensation, and transactions from their multi-entity structures, many associations also have various types […]
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Investing to Spite Ourselves: The Paradox of Nonprofit and Foundation Asset Management
With combined assets nearing $2 trillion, how and where nonprofits and foundations invest those resources has enormous consequences. For two sectors that are mission-based, the question is whether enough of those assets are financing community and economic ventures that truly augment their stated missions. Or do traditional asset management practices inadvertently work against the goals of the very organizations holding those assets?
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Elegant Nonprofit Reporting: System Design
Taking the time to design an elegant chart of accounts, cost centers, and allocations creates the conditions in which your accounting system will eventually bear fruit – reports and dashboards rich with information that effectively tell your nonprofit’s financial story.
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The Proper Application of Hope in the Midst of a Crisis
How, in the midst of extreme uncertainty surrounding your people, programs, and finances, do you lead your nonprofit to a hopeful next phase out of such a troubling now? Every assumption you had about how your nonprofit did business prior to the downturn is open to question, and every question you ask could lead to innovation you did not anticipate.
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Community Resilience and Racial Equity – Nonprofits responding to COVID-19
While the immediacy of the COVID-19 crisis is focusing our attention on health, safety, and economic hardship, many nonprofits are also making the effort to uphold their core values around racial equity and racial justice.
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Financial Leadership in the Face of Impossible Choices
Financial leadership during times like these requires an unflinching look at your current fiscal state and a willingness to seek and share solutions across your whole organization. Holding true to your mission will guide you towards thoughtful, compassionate, and effective decisions in the midst of hardship. To help, we are offering you a few simple financial tools and some creative approaches to navigate otherwise impossible choices.