Nonprofit general
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Does your Nonprofit Need an Investment Policy Statement (IPS)?
As a best practice, nonprofits should have policies and procedures for investments and reserves, but many we talk to don’t know where to start. Have you recently heard any statements like these: “We should invest in cryptocurrency…there’s real opportunity for growth there!” “I’ve got a guy who can help us make a lot more money on […]
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Be Prepared for Increasing Cybersecurity Challenges in your Nonprofit
Recently, a nonprofit hospital system out of San Diego lost revenue of nearly $92 million due to a cyber breach. Scripps Health, which operates as an integrated health care delivery system, also incurred an additional $21 million of expenses for the resulting incident response and recovery. This cyber-attack created a substantial disruption in patient care […]
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IRS Announcement re: ERC Processing Pause
News about the IRS pause of processing ERC claims has created a lot of confusion and questions. Check out this simple post about what this likely means for your nonprofit.
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Payroll Tax Considerations for Your Nonprofit’s Remote Workforce
(This blog was written by Joe Baumann, Employment Tax Director at CLA. You can contact Joe at Joe.Baumann@CLAConnect.com) Has your nonprofit considered the payroll tax implications for your remote staff recently? Surprisingly, there is not a uniform procedure for withholdings or unemployment; instead, each state has their own regulations for residency, convenience rules, and reciprocity. […]
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Building Engagement in a Remote Work Environment: Fostering Connection and Productivity
Nonprofits can foster connection and productivity of a remote or hybrid workforce by being intentional about participation, issue identification, culture development, and clear goals.
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Opportunity for Nonprofit Employers to Provide Educational Benefits
Student debt relief has been a hot topic in the news recently. The CARES Act gave employers—including nonprofit, healthcare, and educational institutions—the opportunity to provide tax-free student loan repayments to employees! Under a written employee educational assistance plan, employers can provide employees with up to $5,250 tax-free educational benefits that can be used to repay […]
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When and How to Claim Green Energy Tax Credits
In our latest nonprofit blog we discussed the “who and what” regarding nonprofit and other non-taxpaying entities eligible for the direct pay refund election for green energy tax credits available as of 2023 by the Inflation Reduction Act. The Inflation Reduction Act is a game changer for investing in clean energy, offering new tax incentives […]
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Is Your Nonprofit Doing Green Construction or Renovation?
Is your nonprofit, healthcare or educational institution planning to undertake any construction or renovating or purchasing electric vehicles – snow blowers, lawn mowers, forklifts or other commercial vehicles? The exciting news is that now exempt organizations may be eligible for cash tax credits – even if they don’t have unrelated business income tax! Green energy […]
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ERC – New Information and Hot Topics for Nonprofits
IRS release of a memorandum addressing supply chain shut-down eligibility for ERC, as well as other nonprofit ERC hot topics
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What to do when your finance team is short-staffed
If your nonprofit is struggling to find and keep finance staff consider looking for ways to automate or outsource, standardize work and cross-train, and focus on creating a culture of service.