Arizona has a robust system of state charitable tax credits that permit taxpayers to direct their state tax dollars to the community organizations that they
Your Privacy and Legal Notice Webpage cannot be a last-minute matter anymore but must be a prominent feature on your entire website and be composed of words that the average user can comprehend without the need for a lawyer.
Many non-profit’s use the 51% benchmark for a quorum as a concession that directors will not be able to attend all meetings, but having a majority of board members in attendance for official business ensures a representative cross-section of participation which will not simply reflect the will of a very small clique of directors. However, organizations that value strong hands-on participation by board members may set a higher quorum requirement to encourage meeting attendance and broader participation.Â
A “UBIT blocker” is a for-profit corporation that is wholly owned by a tax-exempt organization, but whose activities are not attributable to its tax-exempt parent.Â
The need for committees and which types will vary based on your organization’s age, size, and activities. Newer organizations may be able to get by with a small working board and few or no committees, while large and established nonprofits would be hamstrung without the robust use of committees.Â
Technology now offers businesses and boards many advantages, including the ability to meet via teleconference, video conference, or even conduct discussion and voting via electronic communications, such as email. But while email is commonplace among many organizations for its ease of use, especially for busy and geographically diverse volunteers sitting on nonprofit boards, there are several reasons to think twice before using email for your next important nonprofit board vote.Â
At a baseline, your board needs to meet with sufficient frequency to adequately carry out your basic fiduciary and governance duties. This includes hiring the CEO and monitoring the CEO’s performance, creating a vision and direction for the nonprofit, setting goals and monitoring their progress, developing policies and procedures, ensuring sufficient financial resources, and generally safeguarding the organization and its mission.
Does your nonprofit serve a charitable class? It matters, because, to obtain and maintain IRS 501(c)(3) tax-exempt status, non-profit corporations must serve a charitable class.
Beginning January 1, 2020, updated salary thresholds for overtime will become law, resulting in over 1 million Americans becoming eligible for overtime pay through the
In non-profit finance and accounting, restricted contributions are those given by donors in which the donor intends the funds to be used for specific programs or purposes. As in all matters regarding donations, the stated intent of the donor rules when it comes to the purposes for which donation revenue can be allocated. If the donor allocates funds for program B, and states verbally or in writing that such funds cannot be used for administrative costs (back office, IT support, human resources, insurance, operations, etc.) to support such programming, than they cannot be used for that purpose. However, if no such explicit statement is made by the donor, non-profits can use a reasonable amount of the restricted funds received to pay for administrative costs allocable to the program designated by the donor.
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