The new revenue recognition standard for contracts with customers, ASC 606, is now in effect for all nonprofits. Although the updated guidelines apply to all entities and not just nonprofits, this article will largely focus on the effect on different… Read More

Have you ever made donations to a charity online? Did you use a crowdfunding website, such as GoFundMe? If you have, there’s a chance that you may be unable to deduct those donations on your tax return. Read on to… Read More

When the Tax Cuts and Jobs Act originally added the nonprofit transportation (primarily parking) tax, most entities were worried that they would be subject to additional taxes. However, new guidance was issued in December of 2018 clarifying the tax and… Read More

Can a nonprofit organization get political? Could penalties be involved?  Could the organization’s exempt status be at risk?  It may be surprising to learn that some nonprofits may be able to engage in legislative lobbying activities. The main caveat to… Read More

The Nonprofit Institute at the University of San Diego publishes an annual report analyzing the economic health of the NPO sector and its impact on our community.  Did you know that there are 11,234 registered 501(c)(3) public charities in San… Read More

Fundraising activities are a great way for nonprofits to obtain funds to be used for their charitable purpose. Everybody loves bingo night or winning an all-expense-paid vacation through a raffle, especially when their donations to participate are for a good… Read More

The Internal Revenue Service commonly refers to charitable organizations as nonprofit entities, 501(c)(3) organizations, or tax-exempt entities. Unfortunately, this implied reference to tax exemption will not always be the case. The Internal Revenue Code provides an exemption from federal income… Read More

Do you want to give money to charity while also maintaining a steady flow of income for yourself or your beneficiaries? There are two major ways to give back that will do just that through charitable remainder trusts: CRUTs and… Read More

An organization that seeks to obtain tax-exempt status must be properly formed, and must follow a prescribed process in order to apply for and maintain this status. Furthermore, when it terminates, the organization must also follow the appropriate steps for… Read More

Now that 2018 has come to an end, tax time is just around the corner! As the 2019 busy season creeps up on us, it becomes increasingly important to begin gathering any documents and information necessary to prepare tax returns…. Read More