UBTI reporting for exempt organizations can be challenging. Exempt organizations investing in partnerships should ensure that the K1 reporting from the partnership provides the information necessary to ensure correct reporting.
Sometimes, a not-for-profit's investment performance isn’t what it should be. Looking at the Investment Policy Statement and identifying corrections can help to improve fund performance and help to ensure investment returns meet their objectives.
Starting a nonprofit often requires registering with the state before the organization can fundraise. States like Virginia, Maryland, and North Carolina all have different rules and requirements for nonprofit registration.
Virginia’s tax credit education scholarship program saw its funding fully restored in the new state budget. The EISTC program allows eligible donors to claim a 65% tax credit against five state taxes.
2021 was described as the worst year ever for the IRS. Several compounding problems, exacerbated by COVID-19, led to a historic backlog. Now, the agency is taking steps to improve service.
Many not-for-profits are in the first year of implementing the new lease accounting standard and may need guidance on where to start. Below-market leases or donated space also give rise to another new accounting update to consider.
Individuals, businesses, and other entities can claim valuable tax credits through Virginia’s Neighborhood Assistance Program (NAP) to lower their state tax liability and make an impact on their local community. For organizations, the application window closes on July 1.
Developing future leaders and mapping out a succession plan in advance is one of the best ways to mitigate the risk of losing key personnel and prepare for the future needs and growth of an organization. This video offers tips and best practices for creating and implementing a succession plan for your nonprofit.
Investment Policy Statements dictate how a nonprofit’s investment program operates. How is performance measured? Learning how to benchmark and measure success and organize the investment committee helps to ensure investment committee members satisfy their fiduciary duties.
Every not-for-profit manages funds, but not every organization has an established and well-documented Investment Policy Statement. Learn how the investment committee can review the IPS and safeguard against unnecessary investment risk.
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