Quid pro quo donations occur when a not-for-profit receives a payment that includes a contribution and the organization provides the donor with goods or services valued at less than the contributor’s payment. Among other things, these arrangements create reporting obligations for your nonprofit.
Disclosure of contingent liabilities — such as those associated with pending litigation or government investigations — is a gray area in financial reporting. It’s important to keep investors and lenders informed of risks that may affect a company’s future performance.
Our 5th annual event is back in person this year! Join our team of governmental experts as we review the latest industry updates and helpful tips to help your organization succeed!
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner.
We typically host a QuickBooks session as part of our annual Governmental Seminar. We heard your feedback loud and clear - you want more QuickBooks! New this year, we are holding this session as a separate event! This free QuickBooks webinar is tailored to local governments & schools.
There are thousands of grants and millions of dollars available to nonprofits from the federal government, states, foundations and other sources. Unfortunately, you can’t just ask nicely and expect to receive them.
With gas prices so high, you need to track your travel costs as closely as possible. Consider getting a tax deduction for your business mileage.
The pandemic, ongoing economic insecurity and uncertainty about the future have prompted some not-for-profits to make board designations of unrestricted assets. What are board designations, why are they worth considering and how does the process work?
Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an IRS-approved charity out of your IRA.
Taking care of an elderly parent or grandparent may provide more than just personal satisfaction. You could also be eligible for tax breaks. Here’s a rundown of some of them.