How Do Large Funding Sources Affect Nonprofit Accounting?
Nonprofit organizations use funding from various sources to strengthen the fabric of our communities by exciting awareness and providing services, resources, and solutions to address unmet needs. You are an advocate for social change, bringing voices to those who are...
Small Business Owner Guidance: Retirement Plan Distributions
If you’re planning a trip or a wedding, presumably, that plan comes to fruition once you’ve set sail or said your “I do’s.” But if you’re planning for retirement, the finish line isn’t actually retirement. So, sure, you have to plan for what leads up to retirement,...
Outsourcing Bookkeeping Can Strengthen Internal Controls
When a person makes a mistake, some of the questions they tend to ask themselves are, “How did this happen?” and “What could I have done to prevent this?” In life, these reactive questions help us learn from our mistakes and prevent similar occurrences in the future....
Preparing for Your Nonprofit’s Financial Statement Audit
Nonprofit organizations are proving their resilience as they learn to adapt to the new normal. In terms of charitable giving, things are also looking up. We saw a 6% increase from 2020 to 2021, and the upward trend is expected to continue throughout 2022. Alongside...
Digital & Crypto Payments, Cybersecurity & Your Tax Plan
To a certain extent, we all know the IRS is always watching. But recent legislative developments coupled with developments in sophisticated tracking and auditing technologies make that more of a reality each year. More and more business operations and payments are...
What Private Grant-Making Foundations Need To Know About Tax
Private grant-making foundations and nonprofit organizations operate like bees and pollen. Without pollen, bees would have no contribution as they buzz from flower to flower. And without bees, pollen would lack the necessary means of transportation for pollination to...
Understanding Nonprofit Special Event Revenue Recognition
For many nonprofits, the last few years have been characterized by virtual and hybrid fundraising efforts. As organizations, donors, volunteers, and the world in general adjust to feeling comfortable gathering again, more nonprofits are expected to return their focus...
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How Businesses Benefit from Nonprofit Event Sponsorship
Today’s market and economic landscape can be challenging to navigate, especially for small businesses. In the face of rising costs and staff shortages, businesses are also adjusting to changing consumer expectations and increasing competition among their peers. Adding...
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