What would happen if a key leader in your company left tomorrow? Would you have the right people ready to step up, or would you be scrambling to fill the gap? Too often, businesses...
If your nonprofit was well-established before 2020, it has probably weathered the pandemic and economic stress of the past year-and-a-half better than younger organizations. But as you transition out of “survival” mode, challenges remain,...
If your nonprofit’s board members don’t have the information they need to make decisions, the repercussions can be severe. Board time can be wasted, voting may be delayed, and your organization may be unable...
A few years ago, IRS Revenue Procedure 2018-15 changed the rules regarding nonprofit restructuring. If you’ve participated in a restructuring in the past, you’ll be relieved to know that in many cases it’s now...
Whether your nonprofit is continuing to hold videoconference board meetings or is back to in-person gatherings, you don’t want to waste members’ time. Board meetings need to be long enough to accomplish agenda items...
Accountable plans reimburse employees for work-related expenses free of federal income and employment taxes. So reimbursement payments aren’t subject to withholding from team members’ paychecks. Your nonprofit also benefits because the reimbursements aren’t subject...
You might think that artificial intelligence (AI) is just about using computers to perform complex tasks that otherwise would require human intelligence. That’s part of AI. But several technologies fall under the AI umbrella,...
No nonprofit looks forward to annual audits. But regular maintenance and preparation specific to an impending audit can make the process less disruptive. We recommend taking the following steps.
1. Reconcile routinely
You shouldn’t wait until...
When nonprofits first start up, fundraising can be an ad hoc process, with intense campaigns followed by fallow periods. As organizations grow and acquire staff and support, they generally decide that fundraising needs to...
Your nonprofit may prefer to avoid activities that subject it to unrelated business income tax (UBIT). But if you accept advertising or sponsorships that aren’t substantially related to your tax-exempt purpose, you may unwittingly...