David Heinen, Vice President for Public Policy and Advocacy, North Carolina Center for Nonprofits
As we enter the start of tax season, nonprofit leaders are concerned that their organizations’ finances may be challenged this year by the recent expiration of several temporary tax provisions, including the expanded child tax credit, the Employee Retention Tax Credit, and three tax incentives for charitable giving.
The Expanded and Improved Child Tax Credit
Tracy Careyette, Chief Financial and Operations Officer, North Carolina Center for Nonprofits
The segregation of duties essentially boils down to assigning different personnel to different steps in the processes of managing the nonprofit's money. The premise of this practice is that, the more people involved in the management of assets, the less likely for there to be instances of theft or fraud when compared to one individual possessing near complete control over a process.
A cryptocurrency is a digital currency (sometimes called digital cash, coin, or token), which has been of interest on the internet since the late 2000s. Bitcoin and other virtual currencies saw a rise of use beginning in 2017, and by the early 2020s have received much attention for becoming commonplace in transactions and donations.
A formal spending policy should unite a nonprofit's endowment with its mission and long-term strategic plan. If the endowment is funded by donor-restricted gifts, the nonprofit's fiduciary actors are required to adhere to the Uniform Prudent Management of Institutional Funds Act (UPMIFA).
Creating Spending Policies
How can you optimize your audit? We will provide a deep dive into the audit process and how non profits can prepare for their audit as efficiently and effectively as possible. This program will help streamline your back of house operations so that resources can remain focused on the non profits core mission.
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Societal structures exist in America that enable healthy lives for some and unhealthy lives for others. Leaders are uniquely positioned to drive social movement in the communities they serve. They are also charged with investing in their talent and removing barriers to healthy living within their organizations. Total rewards programs have come a long way for many nonprofits, and yet, one major area where health inequities still exist is in health benefits plan design.
This beginning level workshop offers participants an opportunity to delve into fundamental issues associated with contract management and administration in the nonprofit sector. Nonprofit attorney, Kristy Cook of Mod Law Firm, brings her near decade experience in nonprofit law and management to this session with the goal of teaching nonprofit attendees to:
In this session, we will discuss recent and upcoming changes to accounting guidelines and regulations impacting the nonprofit industry, implications of these new guidelines, and strategies you can use now to help you prepare for what’s to come.
Disclaimer: This recording is from the 2021 Nonprofit Legal Compliance Workshop, hosted on September 15, 2021. Some laws and rules may have changed since that date.