In order to maintain their tax-exempt status, 501(c)(3) charities receiving federal or other government awards may need to comply with various rules from federal and state entities, including but not limited to the IRS, the particular U.S. federal agency funding the grant (HUD, FEMA, etc.), and/or state laws governing purchases.
It's been a decade since the Great Recession gave way to the last wave of "best practice" regarding financial reserves. A lot of organizations had rebuilt their reserves, in many cases with increased sophistication. However, the COVID-19 pandemic has required organizations to lean on reserves in new ways to navigate otherwise impossible choices.
Nonprofits receiving federal funds must comply with "the Code of Federal Regulations (CFR), Office of Management and Budget (OMB) cost principles, and the terms and conditions of your assistance agreement." The U.S.
Considering a capital campaign? Where do you start? Start by asking and answering six vital questions designed to prepare your nonprofit to enter the process. Designed for executive directors, development leaders and board members, this session will allow you to consider the questions for your own organization while exploring real-world examples from professionals with more than 18 years of capital campaign fundraising experience.
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.