Following the passage of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) and its successor, SECURE 2.0, several changes were made in the requirements for filing IRS Form 5500 or the simpler Form 5500-SF (Short Form Annual Return/Report of Small Employee Benefit Plan). One of the changes is an adjustment […]
Changes in Form 5500 May Benefit Small Business Benefit Plans Read More »
By Bill ConstantopoulosGray, Gray & Gray, LLP In the real estate and construction world, software solutions are an indispensable tool for streamlining financial management, accounting, and reporting. As the need for these solutions grows, two of the most prominent software platforms designed specifically for the industry are Sage Intacct Real Estate and Yardi. Both software
Do you enjoy filling your day by manually entering bills into your accounting system? Are you OK with spending more time than necessary on invoice management? Or would you rather be doing something more productive with your time? Very few people get a kick out of the tedium of manual bill entry. Invoice management is
If You Love Processing Invoices, Don’t Read This Article! Read More »
By Bill Constantopoulos Information is the lifeblood of any successful organization. But too much of a good thing can negatively impact performance. “Information overload” is a challenge for organizations and those tasked with managing them. Some have even compared the flow of data to “drinking from a fire hose.” Too much data, crammed into too little
Drinking from a Fire Hose: Controlling the Flow of Information in Your Business Read More »
By Bill Constantopoulos If we learned anything from the past few years of pandemic-induced disruption it is this: People can work efficiently and effectively from virtually anywhere. Even the bourgeoning return-to-the-office movement has adapted hybrid work weeks that blend in-person attendance with remote work. But the dispersal of workers poses a challenge to managers who
Using Technology to Manage Financial Operations in a Dispersed Organization Read More »
Your not-for-profit organization is probably assisted by volunteers who aren’t financially compensated. But your staff — including executives — are almost certainly paid a commensurate salary and benefits for their work. Compensation issues are always tricky, but they’re made more so by tax and legal requirements for nonprofits. Setting executive pay is particularly fraught because if
How to Adhere to Nonprofit Compensation Rules Read More »
By Nathaniel C. Gravel, CISA, CISM, CRISC The second week of January has been designated as National Home Office Safety & Security Week. But keeping your computer, network and files secure while working remotely is a 24/7/365 task. Here are eight important steps to take to help ensure your “home work” is not compromised by
Keep Your Data Safe When Working from Home Read More »
If your not-for-profit focuses most of its fundraising energy on donors who can contribute to your mission and programs now, you may have neglected legacy gifts. Such gifts represent a portion of wealthy donors’ estates that go to your organization on their death. Legacy gifts can help position your nonprofit for sustained growth well into the
Encourage Legacy Gifts to Your Nonprofit Read More »
The $1.7 trillion federal omnibus spending package that was signed by President Biden on Friday, December 23 did not include a provision to reverse the recently enacted requirement that businesses amortize their R&D expenses. This was despite industry pressure for an extension or removal of the requirement to begin amortizing R&D expenditures, which went into
No Relief: R&D Expenses Must Be Amortized Read More »
Does your not-for-profit need to replace a departing board director — or add directors to better handle your growing organization’s governance work? Choose carefully, because although a well-qualified, enthusiastic board addition can help infuse the group with energy and fresh ideas, an unqualified one can create conflict and other problems. Here’s how a nonprofit board should
All Aboard: Recruiting New Nonprofit Board Members Read More »