Michael Cecere, CPA, MST, Partner and in charge of Non-Profit and Employee Benefit Plan Audits Practice Groups.
No one can predict with certainty where the U.S. economy will be at the end of 2024 or in 2025. The presidential election, interest rates, inflation, overseas conflicts and the recent stock market performance all could influence the macroeconomic direction. So it’s prudent for nonprofit leaders to hope for the best but also plan for […]
5 Ways for Your Nonprofit to Weather Economic Uncertainty Read More »
Have you seen the forecast? No, not the weather forecast — but your not-for-profit’s financial forecast. Financial forecasting is critical to any organization’s good health, but it can be more difficult for nonprofits than for businesses. After all, you usually can’t predict how many donors you’ll have in the future, how much they’ll contribute or
Sun or Storm? Forecasting Your Nonprofit’s Financial Future Read More »
One of the biggest challenges facing not-for-profit organizations is finding and retaining top-quality talent. It’s hard enough to overcome the perception — often a misconception — that nonprofits don’t pay their employees nearly as well as for-profit companies. When benefits are factored in, nonprofits can look more attractive. So you may want to review, and possibly
7 Fringe Benefits for Nonprofit Employers to Offer Read More »
You likely already know that year end is the optimal time for not-for-profits to conduct gift-giving campaigns. Donors are more generous during the holidays, and many people wait until the last minute to make tax-deductible gifts before the Dec. 31 deadline. In fact, according to Double the Donation, 10% of all charitable giving occurs on the
Boost Year-End Donations to Your Nonprofits Read More »
Do you have an idea for a new venture with social benefits or environmental applications? You can set up as a for-profit entity — such as a C corporation, S corporation or limited liability company — with charitable functions. Or, if your key objectives are more altruistic, you may want to consider an alternative: forming a
Got a “Business” Idea? You Might Want to Form a Nonprofit Read More »
The term “501(c)(3) organization” — which refers to the Internal Revenue Code section governing not-for-profit entities — often is used interchangeably with “public charity.” But not all 501(c)(3) organizations are public charities. Some are private foundations, and they’re subject to different tax rules. Individual and Family Charity A private foundation is a 501(c)(3) organization created by
Ins and Outs of Private Foundations Read More »
The tax-exempt status of a 501(c)(3) organization is its lifeblood. Without it, most not-for-profits couldn’t obtain the financial and other support they need to fulfill their mission. That’s why you need to protect your exempt status at all costs. 6 Violations Following is a brief overview of six common ways nonprofits’ tax-exempt status can be jeopardized
Don’t Jeopardize Your Nonprofit’s Tax-Exempt Status 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 »
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 »
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 »