Rich Tips

The IRS: Keep Your Organization in Compliance

Nonprofit organizations benefit from certain advantageous tax benefits and privileges, of which for-profit corporations could only dream. For example, 501 (c) (3) organizations typically don’t have to pay property taxes, are exempt from many sales taxes, and nonprofit donations are almost always tax-exempt. However, there are many IRS reporting requirements and regulations of which leaders“The IRS: Keep Your Organization in Compliance”

Continue reading

Tips on Annual Reports

The IRS requires nonprofits to file 990s when they generate revenue over $25,000. And private foundations, government agencies, and other funding sources generally require annual reporting on the expenditure and use of funds. But developing and publishing an annual report is generally not required, although it is clearly recommended. Publishing an annual report helps your“Tips on Annual Reports”

Continue reading

10 Budget Tips

Most people go into the nonprofit sector to change the world, not to read financial statements and develop budgets. Alas, reading financial statements and developing budgets are critical tasks that executive directors and program directors must master. The budget is a key tool, which executives in the organization use to make strategic decisions on managing“10 Budget Tips”

Continue reading

Create the perfect budget

Most people go into the nonprofit sector to change the world, not to read financial statements and develop budgets. Alas, reading financial statements and developing budgets are critical tasks that executive directors and program directors must master. The budget is a key tool, which executives in the organization use to make strategic decisions on managing“Create the perfect budget”

Continue reading