Not-For-Profit Accounting in Tempe
Is your nonprofit organization in its first few years of existence? Not sure of the Form 990-N filing thresholds? Organizations that have gross receipts that are normally $50,000 or less are required to file a Form 990-N (e-Postcard). Now, you’re … read more
When auditing an organization, what we often find is that clients are not tracking their restricted net assets. Or if they are tracking it, it is not correct. Some common errors we find include: Board designated amounts are classified as … read more
On Saturday February 28, 14 Henry & Horne, LLP employees and their family members volunteered at a literacy fair sponsored by the Valley of the Sun United Way. The fair was open to the public and held at the Martin … read more
Arizona Transaction Privilege Tax (TPT) and Use Tax are taxes the vendor is required to pay for the privilege of doing business in Arizona; otherwise known as a ‘sales tax.’ As a nonprofit organization, should you have to pay TPT … read more
Private foundations are often set up with the purpose of giving out scholarships or grants to individuals. Before starting this program, the IRS requires a private foundation to request “approval” from them. There are certain criteria that must be met … read more
All section 501(c)(3) organizations are strictly prohibited from being directly or indirectly involved in campaigning activities for, on behalf of, or against a candidate running for public office, making contributions to political campaign funds, and making a public statement of … read more
It’s important as a not-for-profit organization to accurately allocate expenses among your program(s), management and general, and fundraising. Many donors restrict grants and contributions specifically for the entity’s programs. Therefore, it’s vital to only allocate expenses that are related (either … read more
There are a number of reasons why you may have old, uncleared checks on your books. Whatever the reason, it is important to clean any checks that should be cleared off your books in order to make sure you are … read more
The process of changing anything relating to an organization’s tax exempt status can be very confusing. A public charity can be automatically converted to a private foundation by the IRS if they don’t meet the minimum public support percentage requirement. … read more
Our Not-For-Profit niche is a strong team of experienced professionals who focus their work in the not-for-profit industry. Henry & Horne has been a stable local firm in Arizona for 55 years, and the Not-For-Profit niche has a long history of working with charitable organizations and other tax exempt organizations of all kinds. Our focus is exceptional client service and building relationships with our clients to promote communication throughout the year, not just at the time of the annual audit. We highly value and are very proud to be helping those who help others.
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