How to protect your tax-exempt status

What would happen if your nonprofit lost its federal tax-exempt status? The thought might send shivers down your spine, and it should. Here are reminders about some of the actions that are required — or should be avoided — to maintain your 501(c)(3) status. A titanic loss If your 501(c)(3) designation is revoked, your nonprofit will no longer be ...

Is Your Not for Profit Reporting It’s Full Value Proposition?

By Jeff Curiel, CPA, Manager, Audit & Other Assurance Services Group and Amanda Meko, CPA, Partner, Team Leader of the Not-for-Profit Services Group “How do we create value?” This question is often asked when analyzing an Organization’s impact. As CPAs, it is oftentimes too easy to focus solely on numbers, without considering other factors ...

Let the Numbers Roll

8 Ways to Make Your Not-for-Profit Accounting Function More Efficient by Jennifer McVey and Amanda Meko, CPA | Team Members of the Not-for-Profit Services Group Efficiency. Competence. Productivity. We all want these things in the workplace. And there’s no area where efficiency, competence, and productivity is more important than in accounting. ...

Charities – Are You Putting Your Donors At Risk?

By John Keller, CPA and Amanda Meko, CPA | Team Members of the Not-for-Profit Services Group Let’s face it, as the end of the year draws near, donors rush to make last minute gifts to improve their tax positions by maximizing their charitable contribution deductions. November and December are typically successful fundraising months for many organizations. ...

Legislation May Preclude Statutory Requirements for Mandatory Auditor Rotation

By Amanda Meko, CPA | Partner, Director of the Audit & Other Assurance Services and Team Leader of the Not-for-Profit Services Group On Monday, the U.S. House of Representatives passed H.R. 1564, the Audit Integrity and Job Protection Act, by a significant majority vote of 321 to 62. The bill, which prohibits mandatory audit firm rotation, was ...

Avoiding Conflicts-of-Interest

by Amanda Meko, CPA | Partner, Team Leader of the Not-for-Profit Services Group When the Form 990 was redesigned in 2008, not-for-profit organizations rushed to get a number of policies in place so they could “check the box”. As a result, most organizations have a conflict of interest policy. However, organizations may not be regularly following ...

Coming Your Way, Changes to the 2012 Form 990 and 990-EZ

by Jeff Curiel, CPA and Amanda Meko, CPA | Team Members of the Not-for-Profit Services Group The 990 provides not-for-profit organizations with a tremendous opportunity to tell their story as the form is required to be made available to the public. While many organizations make the form available on their website, GuideStar.org publishes the last three ...

NFP Property Taxes and Recordkeeping Guidelines

by Heather Phillips, CPA and Amanda Meko, CPA | Team Members of the Not-for-Profit Services Group With the start of March comes a change in time, warmer weather (hopefully!), and the time of year to do some spring cleaning. Annually in the state of Indiana, most business entities, including non-profits, are required to file personal property tax returns ...

Pop!

by Heather Phillips, CPA | Manager, Not-for-Profit Services Group When the real estate bubble burst after decades of inflation, many home-owners saw their property decline in value. Some decided to ‘stay the course’ hoping to see prices start to go back up, while others had to sell – sometimes suffering a hefty loss. The commercial ...

Is Your Nonprofit Making the Most of Available Web Resources to Enhance Your Profile?

by Amanda Meko, CPA | Partner, Director of Audit & Other Assurance Services and Team Leader of the Not-for-Profit Services Group What type of research do you perform before making a significant purchase? You may compare the product youre considering with similar products online to evaluate price and features. You likely will read reviews of other ...