Nonprofit Issues Newsletter, December 2023
Merry Christmas from CapinCrouse
And his name will be the hope of all the world. – Matthew 12:21
During this holy Christmas season, we celebrate the wonderous gift of God’s one and only Son bringing hope and light to the world.
May that hope bless and strengthen you as you share the joy of God’s transforming love in the coming year. We look forward to what God will bring in 2024, and to supporting you and your life-changing work.
Merry Christmas from all of us at CapinCrouse!
How to Create a Compensation Philosophy and Policy for Your Organization
Does your organization have an effective compensation philosophy and policy? Have you wondered if you need to create one?
A written compensation philosophy and policy can be a vital tool in creating a compensation strategy that helps your organization recruit and retain the qualified employees you need to achieve your mission. Here are four key benefits to consider.
Mitigating Cyber Threats
Organizations’ cybersecurity efforts must continually evolve to adapt to both changing operations and changing cyber threats.
Fortunately, there are strategies you can embed into your organization’s operations to ensure that your cybersecurity efforts evolve with your day-to-day activities, as CapinTech Partner Allison Ward explains in this article in Christian Leadership Alliance’s Outcomes magazine.
6 Common Accounting Tech Stack Questions
Technology changes quickly, and if you do not evaluate your software and systems frequently, they can become outdated and inefficient. When nonprofit clients come to us for assistance with their accounting software and processes, many are unaware that their software, or lack thereof, is the cause of the issues they are experiencing.
Learn about accounting tech stacks with these answers to six common questions.
2023 Survey of Mission Finance and Administration Practices
CapinCrouse and Missio Nexus recently conducted a survey consisting of 50 questions covering a broad range of mission finance and administration topics. This was an update of our 2018 survey, and we shared the results at the 2023 Missio Nexus Mission Leaders Conference.
The survey shows that mission organizations continue to evolve and that there continues to be diversity in practice. Here’s a look at the survey results, including detailed responses.
Join Us at the CapinCrouse 2024 National Nonprofit Virtual Seminar
Today’s nonprofit leaders must navigate current opportunities and challenges while simultaneously strategizing for future growth and long-term success. Please mark your calendar and plan to join us at the CapinCrouse 2024 National Nonprofit Virtual Seminar on Wednesday, February 7 from 11:30 a.m. – 5:00 p.m. EST.
You’ll gain valuable insights and practical strategies to empower your organization. Details and registration will be available soon.
IRS Mails Over 20,000 ERC Disallowance Letters; Continues to Accept Withdrawal Requests
The IRS announced that it is notifying more than 20,000 taxpayers about disallowed Employee Retention Credit (ERC) claims. This initial group of disallowance letters focuses on ineligible claims made by entities that were not in existence or that did not have paid employees during the period of eligibility.
The IRS said it will continue to accept requests to withdraw ERC claims at least through the end of 2023. The agency also noted that it will provide details about a separate voluntary disclosure program later in December. Please contact us with questions or to learn how we can help you with the ERC.
How to Wrap Up 2023 Finances and Prepare for 2024
CapinCrouse Partner Mark Pate recently was a guest on “The Prosperous Nonprofit” podcast, where he discussed how nonprofits can get the most out of working with an auditor, the characteristics of a smooth auditing process, and how to manage year-end tasks, plan for the year ahead, and create a positive audit experience.
You can listen to this informative podcast episode here.
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