Nonprofits and charitable organizations must conduct independent regular audits and single audits if specific requirements are met. California guidelines call for an independent audit of the financial statements if revenue meets or exceeds $2 million. Federal guidelines were modified in… Read More

There are so many great causes private foundations want to support, and with such a globalized society, those causes are often based in international territories. Though a bit trickier than giving grants to a domestic organization, there are luckily still… Read More

Surf’s up! The sun is shining, the kids are out of school, and family vacations are all in order…summer is finally here! The 2017 tax season is behind most of us (the extended due date is October 15th). This summer… Read More

When private foundations disburse out funds to other organizations, it is important to make sure that donations are going to IRS-qualified organizations to minimize the net investment income tax assessed. Even when the funds are going to support a cause… Read More

The most recent tax reform bill represents one of the largest changes to the tax code in decades. Not-for-profit organizations are certainly not exempt from the changes and will be impacted by tax code reform. Read on for six of… Read More

Once an organization has qualified for tax-exempt status, it might feel like the time to rejoice over never having to pay federal income tax. As in most things, the Internal Revenue Code is not quite as simple as that. The… Read More

Have you been looking to improve the face of your nonprofit organization’s financial statements and enhance footnote disclosures to better communicate financial performance? If so, in August 2016 the Financial Accounting Standards Board (FASB) issued a new accounting standards update… Read More

As the year is winding down, it becomes increasingly important to assemble the organization’s books and documents required to prepare the tax returns, particularly while the information is still fresh. With so many disclosures and schedules, it can be difficult… Read More

When looking at a map of the United States, it is clear to see where the border of one state ends and where another begins. These lines can begin to blur when it comes to how a nonprofit organization can… Read More

Most corporate bylaws require at least one meeting to be held each year by the board of directors. This meeting provides a great opportunity for your nonprofit to discuss important items such as the executive compensation policy. This policy helps… Read More