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So far CRI has created 311 blog entries.

Closing a Nonprofit Organization

Dissolving an organization can be difficult and emotional. Whether it is for involuntary or voluntary reasons, there are certain key items and considerations that should occur in that final dance before the music stops and the organization calls it a night. Follow the 5-Steps for Dissolving a Nonprofit There are generally five key steps of [...]

2019-09-10T13:57:08-05:00August 29th, 2019|NOT-FOR-PROFITS|

Four Steps to Facilitate Medical Practice Strategic Planning

With today's rapidly changing healthcare environment, physicians must spend time working on, not just in, their practices. Medical practice strategic planning can be a challenge, but analyzing the practice’s current standing and deliberately forecasting for future endeavors can be the equivalent of a hole-in-one for a medical practice. Step 1: Evaluate the current competitive market.  [...]

2019-09-03T12:12:20-05:00August 12th, 2019|HEALTHCARE|

Transfer Pricing and Not-For-Profits

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 [...]

2019-09-10T14:55:22-05:00August 9th, 2019|NOT-FOR-PROFITS|

Five Steps to Lift Self Pay Patient Collections in Medical Practices

Self pay patients were once a small percentage of a medical practice’s patient mix. However, in today’s market, the number of self pay patients is rising due to increases in health plan costs and the number of high-deductible healthcare plans. Medical practices can elevate self pay patient collections by implementing the below five steps. 1. [...]

2019-09-03T15:01:28-05:00July 9th, 2019|HEALTHCARE|

Use a Governmental Performance Audit to See If You Measure Up

Performance doesn’t just happen. It is the result of having a well-established plan with measurable goals and objectives – and making sure that the success of the plan is evaluated and improved as necessary.  There are important issues that should be periodically considered and measured at all levels of government through a governmental performance audit. [...]

2019-12-30T16:09:04-06:00June 26th, 2019|GOVERNMENTS|

4 Things the IRS Looks for in a Federal Tax-Exempt Application

Many people desire to serve others and change the world in some way, and this desire may spark the formation of a nonprofit organization. Private foundations, public charities, cultural and arts organizations, and community development agencies are examples of the 1.5 million nonprofit organizations receiving tax-exempt status in the United States. And with so many [...]

2019-12-27T11:47:29-06:00June 15th, 2019|NOT-FOR-PROFITS|

3 Common Questions & Answers: Nonprofit Audit Committee

Today, not-for-profit organizations face more public scrutiny than ever before, and many organizations are placing an emphasis on transparency to retain or attract donors. While IRS regulations require organizations to share the information submitted on Form 990 with the public, most organizations choose to share additional information such as fundraising data, performance measures, and governance policies. A nonprofit [...]

2019-09-04T14:18:53-05:00June 15th, 2019|NOT-FOR-PROFITS|

Implementing Nonprofit ERM Strategies

Many not-for-profit organizations are gambling with risk by failing to implement enterprise risk management (ERM) strategies. The nonprofit ERM process involves identifying internal and external risks, assessing these potential risks, and creating controls to mitigate them. Identifying Risks Begin by selecting an ERM team to identify all possible threats and dangers: from internal and external fraud to [...]

2019-09-09T16:39:53-05:00June 15th, 2019|NOT-FOR-PROFITS|

Charity Watchdog Groups and Nonprofit Fundraising Costs Ratings

Charity watchdog groups such as Charity Navigator, CharityWatch, and the Wise Giving Alliance are generally viewed as a benefit to the philanthropic community. However, the methods of evaluating nonprofit fundraising costs have generated several controversies, and now many nonprofits are wondering if the formula is an adequate representation of organizations. Joint Allocation = Fundraising Expenses [...]

2019-09-04T15:11:01-05:00June 15th, 2019|NOT-FOR-PROFITS|

7 Benefits of Outsourcing a Not-for-Profit Organization’s Essential Bookkeeping and Payroll Functions

We’re accountants. If you told us that we would need to execute a fundraising campaign, then we would probably feel like a fish out of water. Isn’t that the same feeling you experience when you think about bookkeeping or payroll processing for your nonprofit organization? First, what’s the main benefit? Accounting outsourcing is often less expensive than [...]

2019-12-30T14:47:56-06:00June 15th, 2019|NOT-FOR-PROFITS|

UBIT Expense Allocations Attract IRS Scrutiny

Did you know that unrelated business income calculations attract the attention of the IRS? The agency is concerned that many nonprofits may be improperly reporting losses related to these unrelated business activities and thus may not be paying unrelated business income tax (UBIT). The focus on the reporting of unrelated business income (UBI) heightened after [...]

2019-12-30T15:20:31-06:00June 15th, 2019|NOT-FOR-PROFITS|

Keep Your Organization on the Right Track with Disclosure of Nonprofit UTPs

Most not-for-profit, tax-exempt organizations travel full speed ahead until they reach the junction of uncertain tax positions (UTPs). Basic operations—including tax-exempt status—can create nonprofit UTPs that require additional reporting obligations. Nonprofit UTPs For several years now, the Financial Accounting Standards Board (FASB) has required taxpayers that prepare their financial statements  in accordance with Generally Accepted [...]

2019-09-09T16:29:44-05:00June 14th, 2019|NOT-FOR-PROFITS|

Nursing Home ACA PBJ Reporting

Nursing Home ACA PBJ Reporting While peanut butter and jelly sandwiches are not mentioned in the Patient Protection and Affordable Care Act (ACA), almost everyone knows that individual and employer sponsored health insurance mandates are. However, many people often do not realize that many other healthcare areas are addressed, as well. Nursing homes are now [...]

2019-12-26T16:23:34-06:00June 9th, 2019|HEALTHCARE, HEALTHCARE NEWS FLASH|

Why Nonprofit Executive Compensation is No Child’s Play

Americans sent $427.7 billion in donations right over to nonprofit organizations in 2018. While such generosity is appreciated, it often lends itself to concerns and criticisms from donors, journalists, and government officials regarding nonprofit executive compensation. In fact, the IRS has listed this type of compensation as one of its “hot-button” issues over the last [...]

2019-12-30T13:53:05-06:00June 6th, 2019|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 [...]

2019-12-30T12:50:18-06:00June 6th, 2019|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 [...]

2019-12-30T12:42:33-06:00June 6th, 2019|NOT-FOR-PROFITS|

When Certain Elements Converge, Governmental Fraud Emerges

The three key elements of a governmental fraud are those of all fraud: motivation, opportunity, and rationalization. When these elements converge, white-collar criminals often emerge—and they vary greatly from the average criminal. Fraud perpetrator profiles illustrate that educational background and criminal history defy stereotypes. Common Criteria of Employees Committing Governmental Fraud The governmental employees most [...]

2019-12-30T15:41:22-06:00May 27th, 2019|GOVERNMENTS|

Tax Planning Reasons to Potentially Establish a Private Foundation

A private foundation is an excellent vehicle for a family to get an immediate tax deduction for charitable giving—without requiring them to decide yet which organizations or causes are the beneficiaries. What Is a Private Foundation? A foundation is considered “private” when it receives less than one-third of its support from the general public. Private [...]

2019-09-10T10:57:28-05:00May 26th, 2019|NOT-FOR-PROFITS|

6 Considerations Before Starting a Charitable Organization

Forming a not-for-profit organization is typically a wonderful idea based on a worthy charitable purpose, but it’s also subject to a litany of administrative work and documentation requirements. In order to ease that burden, consider these six items before taking the plunge: Draft a mission statement. This critical first step determines the organization’s purpose. Know [...]

2019-12-26T16:59:04-06:00May 26th, 2019|NOT-FOR-PROFITS|

Manufacturing Product Costing

Manufacturers should have a firm grasp on how much it costs to produce their products. This knowledge ensures that they can control expenses, account for future production needs, isolate inefficiencies, set appropriate prices on produced merchandise, and improve profit margins. Understanding production costs also allows a company to respond more effectively to changes in the [...]

2019-06-13T10:39:16-05:00May 9th, 2019|MANUFACTURING & DISTRIBUTION|