Nonprofit Resources
Nonprofit Issues Newsletter, August 2024
Why Your Organization Needs a Vendor Management Program
With the growing threat of cyber breaches, it’s crucial to be aware of the risks that your vendors can pose and manage them accordingly. A formal vendor management program will define the standards your organization should use to vet vendor relationships and help you apply these standards consistently.
Follow these three steps to develop and maintain an effective vendor management program at your organization.
Three External Fraud Threats Churches Should Address
There are many internal fraud risks for churches to mitigate through strong controls and oversight. However, there are also external threats for church leaders to be aware of and address.
Learn about three common external fraud risks threatening churches today, along with warning signs to watch for and steps you can take to help protect your church.
Internal Audit in Higher Education Institutions
With the right planning and support, ongoing internal audits can help higher education institutions safeguard resources, uphold financial integrity, and identify and address risks.
Learn how an internal audit can provide significant benefits without a significant investment of resources. This article explains what an internal audit entails, the role of an internal auditor and the board, how to develop and update an internal audit plan, and more.
Employee Retention Credit Updates
The IRS has issued several important updates on developments related to the Employee Retention Credit (ERC), a fully refundable payroll tax credit designed to assist employers affected by the COVID-19 pandemic.
This includes sending 28,000 disallowance letters to organizations denying their ERC claims, lifting the processing moratorium, releasing additional warning signs of incorrect claims, and reopening the ERC Voluntary Disclosure Program. Catch up on the latest developments with our recent email alert and article.
Newsbits
Accounting Tech Stacks for Nonprofits
In today’s fast-paced digital world, the right technology can help churches and other nonprofit organizations enhance their efficiency, accuracy, and insight.
Our three-part series on accounting tech stacks is designed to guide your organization through essential considerations and strategies to help streamline your financial management process. You can read it and download your free copy here.
New Department of Labor Regulations Change the Independent Contractor Test Rules
The U.S. Department of Labor has adopted new regulations that essentially undo the independent contractor test from the regulations enacted in 2021. Instead, the new regulations focus on economic independence as the “ultimate inquiry.”
Learn more with this Church Law & Tax article.
CapinCrouse Named a 2024 Top 200 Firm and Best Workplace
We are honored to have been designated a Top 200 Firm by INSIDE Public Accounting for the eighth consecutive year, moving up six spots from 2023 and all due to the firm’s continued strong organic growth as we continue to focus exclusively on serving nonprofit entities with excellence. This annual list recognizes the 200 largest accounting firms in the nation, based on U.S. net revenue.
CapinCrouse was also named a Certified Best Workplace by the Best Workplaces Institute for the fourth year in a row. This certification is based exclusively on employee feedback and highlights our firm’s deep commitment to providing a healthy, engaging, and empowering work environment that supports our employees in their professional and personal development.
We are sincerely grateful for the continuous support and trust our clients place in us, and for the expertise and dedication of our team. Thank you!
