A third quarter not-for-profit industry update sees revenue growth and new opportunities in some segments, like museums, parks, and zoos, and challenges for membership and religious organizations. Resilience and innovation are key to navigating a changing nonprofit landscape.
Check fraud is on the rise. An online banking feature called positive pay is an effective tool to prevent or minimize check tampering, and all nonprofits can use it.
Nonprofit organizations can still qualify for the employee retention tax credit from 2020 and 2021 if they meet certain eligibility rules.
As the first quarter of 2023 wraps up, nonprofits are experiencing lower donations. The economy and consumer spending remain top leading indicators for the segments Museums, Parks, and Zoos, Private Schools, and Membership Associations.
Small to medium-size nonprofits have several responsibilities to maintain their tax-exempt status and may be unaware of some of the activities that can jeopardize it. The IRS has recently released many resources to help.
Federal compliance requirements like single audits require nonprofits to have financial statement services performed.
Nonprofit compliance requirements vary from state to state. Private foundations, agencies, and other grantors often have their own requirements, too. It’s important for organizations to understand what these are before accepting any funding.
Starting August 1, 2022, Form 990-N filers – small nonprofits – are required to use a more streamlined, modern online filing system. ID.me, the IRS’s ID authentication system, will be required for new users.
Labor shortages are hitting nonprofits harder than most industries. Strategies to address this challenge don’t have to include higher wages; there are several other potential options, like culture, recruiting, contract workers, tax credits, and more.
Election years can create uncertainty for nonprofits, even off-years and midterm elections. This article explores factors that are impacting nonprofits and what they can do to stay ahead of changing legislative priorities.
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