by Staff | Sep 5, 2023 | Compliance, Payroll & Tax
Introduction Congratulations! You’ve embarked on the rewarding journey of establishing a nonprofit organization, securing its foundation, and obtaining that coveted 501c3 status. Now, the next phase begins: expanding your nonprofit’s impact by bringing...
by Staff | Jul 7, 2023 | Compliance, Payroll & Tax, Financial Reporting & Board Oversight
For nonprofits, transparency and accountability are essential principles. One crucial aspect of financial reporting for these organizations is the Statement of Functional Expenses. This statement provides a detailed breakdown of how a nonprofit utilizes its resources...
by Staff | Apr 5, 2023 | Compliance, Payroll & Tax, Financial Reporting & Board Oversight
990s – Where do I start? It’s almost that time of year for most nonprofits, 990s. Not sure where to start? Read on to learn more about the basics to make sure you are CYA-ing. WHEN DO I NEED TO FILE? Registered nonprofits must file their annual tax returns by...
by Staff | Jan 5, 2023 | Compliance, Payroll & Tax
Did you know that it is possible for your nonprofit to get thousands of dollars back as a tax credit? The IRS is still giving out retroactive ERCs for 2020 and 2021 if you qualify. ERC – What is it? The Employee Retention Credit (ERC) is a payroll tax refund...
by Staff | Dec 30, 2022 | Compliance, Payroll & Tax, Financial Reporting & Board Oversight
Need a resolution for next year? How about fraud prevention? Fraud is stealing or misusing an organization’s resources intentionally. It is expensive and can cause a lot of damage. Nonprofits are especially vulnerable because employees are assumed to have altruistic...
