On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other not-for-profit organizations receive known as “gifts in kind.” Here are the details. Need for Change [...]
Americans donated over $410 billion to nonprofits in 2017, up 5.2% from the previous year. Yet research also shows that between the years 2000 and 2016, the percentage of the population that donates to any cause fell from 66% [...]
Your nonprofit organization may be required to hire an independent outside CPA to audit its books, depending on its annual gross receipts and other factors. Even when external audits aren’t mandated, however, they’re often recommended. These audits can provide [...]
A recent survey of 350 decision-makers at nonprofits nationwide reveals some troubling trends. The majority of respondents believe that having better outcome measures – ways to track the impact of specific investments – would help to support their top [...]
Just because you run a nonprofit, it doesn't mean you can completely ignore taxes. You still have to file. In fact, if your nonprofit fails to file its annual federal return (Form 990) for three consecutive years, its tax-exempt [...]
Whether you’re a large corporation or a local non-profit, it’s important for your board to periodically evaluate its mission and establish consistency in goals and objectives. Board assessments provide a strategic opportunity for organizations to better evaluate and understand [...]
