The person tasked with taking the minutes should word them in a Nonprofit meeting minutes should consist of a clear, accurate, and complete report of all business transacted.
Many board members question the proper function of a nonprofit executive committee. Nonprofits need a strong organizational structure to ensure optimal functioning and adherence to
We are occasionally asked whether nonprofit employees can volunteer for their nonprofit employer. The answer of course, is that it depends. Volunteers often play a
How common are online charity scams? The internet, social media, and email have made it easier to stay informed and connected with friends, family, and
Nonprofits that fail to file Form 990 for 3 years in a row will receive an automatic loss of tax-exempt status. The deadline is May 15th.
Michigan, Minnesota, and Wisconsin have made recent changes to their charitable registration requirements, and DC has a deadline approaching.
Sometimes it is necessary for a nonprofit to form a for-profit subsidiary. Knowing how to do this can help avoid losing your tax-exemption.
Misclassifying employees as independent contractors is a common mistake made by many nonprofits. Still, improperly misclassifying an employee as an independent contractor can be costly. Nonprofits can suffer payroll tax liabilities and penalties or lawsuits from federal and state authorities for reimbursement of workers’ compensation claims.
Normally, corporations can only deduct charitable contributions up to an amount that equals 10 percent or less of their taxable income in the given tax year. Under the CARES Act, this limitation was bumped to 25 percent of taxable income.
More recently, the December 2020 Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA) temporarily upped the limit for corporate charitable contribution deductions to 100% for qualified disaster relief contributions.
The IRS has released additional guidance for corporations considering using the deduction. Here’s what you need to know.
The new year is a good time for nonprofits to review policies, procedures, and practices, including state-by-state registration requirements.
Download our free guide to learn about the many elements needed to run a successful nonprofit organization, as well as how to avoid common pitfalls and mistakes.
