Filing Deadline Extended to March 30 for Some Tax-Exempt Organizations

Posted by Saaib Uppal Don’t you just love the holiday season?  People are walking around with smiles, vacations are being used, and parties fill your calendar.  It seems as if the Internal Revenue Service has joined the festive club as they announced that they are allowing tax-exempt organizations with January and February filing due dates to file by March 30, 2012.  This … Continued

Do iPads have a place in nonprofits?

Posted by Saaib Uppal, Staff Accountant Since our childhood, we have always been fascinated by THE new toy that you just had to have. While we eventually grow, and like to say we’ve matured, that mindset tends to stay with us.  The only difference now is that while before we just had to have it because all of our friends did, now … Continued

8 Tips for Running a Valid Accountable Plan

Posted By Saaib Uppal, Staff Accountant If you are managing a nonprofit company that carries an accountable plan for employee business expense reimbursements, you should ensure that you are in compliance with IRS requirements.    Not being so will leave you at risk of having to add reimbursed expenses as earnings on the employee’s W-2 form.  Below is a quick summary … Continued

I Have a Question – What Accounting Issues Are Troubling You?

Posted By Jonathan D. Moll, CPA I am constantly reminded of a conversation I had with a “well-seasoned” CPA that I had briefly met at an industry conference. The seminar was leading up to the implementation of SAS 112. The underlying message being stressed was that, in order to avoid a potentially negative management letter, there was a need to … Continued

The Value of Nonprofit Associations

Posted by Christina K. Bell I recently attended the Delaware Association of Nonprofit Agencies (DANA) annual membership meeting. During opening remarks a quickly stated fact caught my attention. DANA’s current membership only represents one-third of the state’s domestic nonprofits, even after membership grew 71% over the past year. I tried to think of why 2 out of 3 nonprofits would choose … Continued

They Weren’t Bluffing – The IRS Auto-Revocation of Exemption List Is Official

Posted By Jonathan D. Moll, CPA In poker, the “bluff” is an effective strategic play.  In nonprofit tax compliance … that is not the case. In 2006 Congress passed the Pension Protection Act requiring most tax-exempt organizations to file an annual information return or notice with the IRS. This week, the Internal Revenue Service released a listing of approximately 275,000 … Continued

Accounting for Agency Transactions

Posted by Jonathan D. Moll, CPA This past Saturday my wife sent me on a chore that I initially referred to as “Mission Impossible.” The Mission: Successfully purchase a birthday gift for our niece’s 1st birthday at a local toy store with my 4-year old son and 3-year old daughter…with no melt-downs. The idea of explaining to my children that they would have no vested interest in … Continued

Let’s Get Ready to Rumble….Defined Benefit Plans vs. Defined Contribution Plans

Posted By Chris Ciminera, Supervisor I have been auditing a nonprofit organization for a few years now. The organization currently has a defined benefit plan and this year I was asked by our contact at the organization to provide some information on switching from a defined benefit plan (DB) to a defined contribution plan (DC). Specifically the organization was looking to switch … Continued

You Just Never Know

Posted By Jenni Fleck Jones, Marketing Manager I am the marketing manager for our firm and was asked to be a guest blogger for a professional services marketing blog. As I was writing my post, I quickly realized how the topic goes far beyond the professional services industry and how it certainly applies to the nonprofit industry. The main point … Continued

Is Your Copier Spying on You?

Posted by Christina K. Bell More than ever I am seeing my smaller nonprofit clients go from a paper to a paperless environment. This switch may include employees scanning in documents such as donor information, copies of donor checks, and company bank statements directly from their copier to their computer system. This is great for efficiency and productivity but did … Continued