Nonprofit finance committee: to serve or not to serve

Many people reach a point in their lives where they ask how they can give back to their communities. Some people may respond to that by donating money to their favorite charity. Others arrive at a conclusion of serving on a nonprofit board of directors and donating their time and expertise (and often money, too!). …

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How does your nonprofit qualify to receive tax credit donations?

The holiday season is usually one associated with giving as the nationwide Giving Tuesday recently passed. This day has become a major revenue raiser for charities, bringing in over $117 million in charitable donations in 2015, according to NBC. If your organization didn’t participate in Giving Tuesday or it didn’t qualify, don’t fret as a …

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Henry+Horne September community service

On Wednesday, September 21, several Henry+Horne employees and family members gathered at Ben’s Bells studio in downtown Phoenix to get crafty for this month’s community service event. Together, they painted over 200 ceramic pieces which the organization will use to assemble wind chimes (“Ben’s Bells”) to be placed around the surrounding community. The only way …

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Who Will the IRS Choose for Form 990 Audits?

The Exempt Organizations Division of the IRS has recently made a change in how they select nonprofit organizations for audits of the Form 990. Previously, audit selections were made based on specific types of organizations. For example, after the IRS conducted a study of nonprofit hospitals, those organizations were audited in higher numbers than other …

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Creating an Error-Free Budget

Alright, I’ll admit the title of this article is rather deceiving. Unless you’re just a naturally lucky accountant or a psychic, chances are you will have errors in your budget causing you to go over or under the projected budgeted amounts from the beginning of the year. I wish I had better news for you; …

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Everything You Need to Know: Gifts In-Kind

Nonprofit organizations collect many different types of support from donors, which are not always cash gifts. When an organization receives gifts of goods or services, it may lead to questions. How and when do gifts in-kind get recorded? What are gifts in-kind? Gifts in-kind are donations of tangible and intangible individual property and contributions of …

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What Your Schedule A Says About You

Does your organization check all the right boxes? For Schedule A, that is. Schedule A is a crucial piece of the 990 for nonprofits as it calculates whether they truly qualify as a publicly supported organization or not. Generally, to be considered a publicly supported organization, the nonprofit must have support of at least 33 …

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Heads Up on Form 1099-MISC

Please note the new filing date for Form 1099-MISC, per the IRS: Public Law 114-113, Division Q, Section 201, requires Form 1099-MISC to be filed on or before January 31, 2017 (compared to February 28th in the prior year), when you are reporting nonemployee compensation payments in Box 7. Otherwise, file by February 28, 2017, …

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2016 Annual Giving USA Report Released

The Giving USA Foundation (a public service initiative of The Giving Institute) has released their 2016 annual Giving USA Report on Philanthropy in collaboration with The Indiana University Lilly Family School of Philanthropy. Using data from calendar year 2015, the Giving USA report compiles and analyzes data on charitable giving in the U.S in order …

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Charity Navigator Launches CN 2.1

On June 1, Charity Navigator announced the launch of CN 2.1, an enhancement of their previous charity rating system CN 2.0. This includes several changes to the seven “Financial Health” rating metrics used to evaluate charities, and to help donors make wise decisions in choosing where to make their donations. Here are the primary changes …

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