NOT-FOR-PROFITS

Checking Up on the Charity Navigator Rating System

Many pet owners take their animals to the veterinarian to ensure that their companions are healthy. Likewise, many donors visit Charity Navigator, a popular charity-rating website, to check on the well-being of approximately 8,000 nonprofit entities across the country. Many organizations find the website’s rating system to be critical for obtaining contributions. Patti Hanks, executive [...]

December 2nd, 2016|NOT-FOR-PROFITS|

Emerging Victorious with Nonprofit Lease Accounting Implementation

American history is full of momentous achievements. Orville Wright piloted the first powered flight in 1903. In 1969, American spacecraft first landed on the moon. In 2016, the Financial Accounting Standards Board (FASB) had its own triumph by finalizing its updated lease accounting standard. The new rules require all entities, including nonprofit organizations, to record [...]

November 23rd, 2016|NOT-FOR-PROFITS|

Diving into the Impact of Revenue Recognition on Nonprofits

Submarines adapt to their environments in a variety of ways. For example, they use sonar (an acronym for SOund Navigation And Ranging) to detect or communicate with other objects in the water. Similarly, organizations across many industries are changing their processes to prepare for the Financial Accounting Standard Board’s (FASB’s) new revenue recognition standard. Amidst [...]

November 18th, 2016|NOT-FOR-PROFITS, REVENUE RECOGNITION|

The Rubber Stamp Trap: Do Your Nonprofit Board Members Understand Their Form 990 Responsibilities?

“Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form?” The IRS poses this important question very directly on your organization’s Form 990. Here, the IRS is essentially asking if your board is aware of its Form 990 responsibilities. In other words, the [...]

November 4th, 2016|NOT-FOR-PROFITS|

How to Give Donors the Top-Secret Privacy They Expect

In this age of heightened transparency and Form 990 disclosure rules, many nonprofit executives and board members might see their organizations as public entities. As a result, they might not be as protective of donor privacy as they could (or maybe should) be. However, most donors rightfully expect their personal information to remain confidential. As [...]

October 19th, 2016|NOT-FOR-PROFITS|

Roadmap to Avoiding the Top 5 Nonprofit Governance Mistakes

In a world of navigation systems and smart phones, getting from point A to point B is much easier with turn-by-turn directions, traffic alerts, and alternate route suggestions. Although it’s not a GPS, IRS Form 990 guides organizations through the criteria to maintain tax-exempt status. One of the key compliance areas is governance. The CRI team works closely with organizations [...]

October 10th, 2016|NOT-FOR-PROFITS|

View From The Top – Nonprofit Board Review of Form 990

While it is true that the annual Form 990 each nonprofit organization must file with the IRS is filled with numbers, it also contains much more. The Form 990 provides insight into the organization and how it functions and—unlike tax reports of other entities—is a document that must be made available to the general public. [...]

October 7th, 2016|NOT-FOR-PROFITS|

The Premiere of the FASB’s New Standard for Nonprofit Financial Statements

The Financial Accounting Standards Board (FASB) has rolled out the red carpet for the first major changes to its standards for nonprofits’ financial statement presentation in more than two decades. The new mandate is intended to clarify net asset classification requirements. In turn, users of nonprofits’ financial statements can more easily understand how not-for-profit organizations [...]

October 7th, 2016|NONPROFIT REPORTING STANDARD, NOT-FOR-PROFITS|

The Procurement Standards “Sunrise” for Nonprofit Organizations

Many organizations that receive federal funding may already be well-versed in the requirements of the Office of Management and Budget’s (OMB’s) Uniform Grant Guidance. Much of the Uniform Guidance, which is also known as a “government-wide framework for grants management,” applies to all federal awards and funding increments to existing awards made on or after [...]

October 7th, 2016|NOT-FOR-PROFITS|

Navigating the Roadmap of Nonprofit State Solicitation Registration

According to the IRS, approximately 40 states have enacted statutes that require nonprofit state solicitation registration before residents can be solicited for contributions—with some exceptions that may be exempt such as schools, hospitals, and religious organizations. Requirements can vary from state to state, but all charitable organizations should be familiar with regulations in a state before [...]

October 6th, 2016|NOT-FOR-PROFITS|

Telling Your Nonprofit’s Story with Form 990

Stories are a powerful way to appeal to your audience’s emotions. But in this increasingly technological age that provides more information than ever before (often from the click of a few buttons), donors are not just following their hearts. They’re also using their heads. Donors want to know how much of their support is really [...]

October 4th, 2016|NOT-FOR-PROFITS|

Coloring Inside the Lines of Board Governance

Nonprofits serve a variety of causes, but they all share at least one common element: a board of directors. Watch as Brian Barksdale discusses the role of the nonprofit board -- and how board members can better understand their purpose. Learn more about nonprofit board governance by downloading our CRInsight, The Nonprofit Guide to [...]

September 9th, 2016|NOT-FOR-PROFITS, VIDEO|

Transfer Pricing and Not-For-Profits: An Unlikely Match?

With transfer pricing, the IRS wields the power to adjust a company’s income if the agency believes the revenue may be inflated from tax evasion. Although transfer pricing is usually associated with international tax, there is also an interesting relationship between transfer pricing and not-for-profits. Pairing Not-for-Profits with Taxes A not-for-profit may owe taxes if [...]

August 9th, 2016|NOT-FOR-PROFITS|

Why Nonprofit Executive Compensation is No Child’s Play

Much like in a game of Red Rover, Americans sent $358.4 billion in donations right over to nonprofit organizations in 2014. That figure represents a 7.1% increase from the amount donated in 2013. While such generosity is appreciated, it often lends itself to concerns and criticisms from donors, journalists, and government officials regarding nonprofit executive [...]

June 6th, 2016|NOT-FOR-PROFITS|

How the Internet Mystifies the Taxability of Qualified Sponsorship Payments

Nonprofit organizations often generate sponsorship revenue from other businesses or trade organizations. As long as certain guidelines are followed, the revenue can be classified as a qualified sponsorship payment, which is considered nontaxable. The IRS defines a qualified sponsorship payment as “any payment made by a person engaged in a trade or business for which [...]

June 6th, 2016|NOT-FOR-PROFITS|

How Donors Find Their “Leading” Charities

On any given day, prospective donors see many commercials from charities asking for donations to help suffering animals, support families in crisis, provide healthy meals for the hungry, and fund medical research. It’s almost as if these charities are auditioning for a role in their donors’ financial activities. Given that all of these causes are [...]

June 6th, 2016|NOT-FOR-PROFITS|

5 Tips for Lessening Stress with Nonprofit Audit Preparation

Does the thought of your not-for-profit’s annual external audit make you as nervous as a long-tailed cat on a porch full of rocking chairs? If so, relax and take a deep breath. These five nonprofit audit preparation tips will help alleviate audit stress for both the nonprofit staff and the external auditors. 1. Be prepared with [...]

April 25th, 2016|NOT-FOR-PROFITS|

Protecting Not-For-Profit Volunteers from Negative Tax Consequences

Not-for-profit organizations rely heavily on volunteers, so it is in their best interest to protect these individuals from negative tax consequences. Watch Julie Bennett as she explains the protective measures that nonprofits can establish for their volunteers.

April 21st, 2016|NOT-FOR-PROFITS, VIDEO|

Best Practices for Nonprofit Volunteer Management

Sometimes the most valuable donation a not-for-profit organization receives is the gift of one’s time. Often people choose to volunteer their time, talents, and knowledge for the benefit of their favorite charity in lieu of a monetary donation. In the current economy, not only can volunteerism help a nonprofit make up for losses in charitable [...]

April 1st, 2016|NOT-FOR-PROFITS|

How to See Eye-to-Eye with the FASB Standard on Nonprofit Affiliate Services

The Financial Accounting Standards Board (FASB) has established a standard that requires not-for-profit organizations to recognize services it receives from affiliated nonprofit entities. What exactly is an “affiliated entity”? And what services need this recognition? Let’s take a closer look at this standard and nonprofit affiliate relationships. Focusing on Nonprofit Affiliates The FASB defines an [...]

March 3rd, 2016|NOT-FOR-PROFITS|