Nonprofit Resources
Reporting Internal Audit Results to Your Institution’s Board
December 16, 2024 - An essential last step in the internal audit process at a higher education institution is reporting the results to the board. These recommendations and examples can help you develop a clear, effective internal audit report and presentation.
Why Nonprofits Need to Be Aware of New Crypto Accounting Standards
December 16, 2024 - By accepting cryptocurrency donations, nonprofit leaders can tap into a new revenue stream and expand their donor base, but they need to be aware of how their organization is recording crypto assets on their balance sheets.
Overtime Updates and Resources
October 28, 2024 - With the recent changes to the overtime rule, it’s essential for nonprofits to understand the requirements and maintain compliance. We have gathered some information and resources to help.
Performing Risk Assessment in Higher Education Institutions
October 28, 2024 - Learn how to identify areas of risk within your higher education institution and develop an effective risk assessment process.
Should Your Church Change its Fiscal Year-End?
October 28, 2024 - If your church uses a calendar year-end of December 31 as its fiscal year-end, you may want to consider whether you would benefit from changing it. Here’s a look at the potential advantages and disadvantages.
Determining Worker Classifications
October 24, 2024 - When individuals perform work for an organization, there are several specific, defined ways for them to be classified in the organization’s payroll and accounting systems, depending on the nature of their work. It is important to classify workers correctly because errors have tax implications for both the employee and the employer.
FAQs About the Beneficial Ownership Information Reporting Requirement and Nonprofits
September 18, 2024 - While nonprofit entities are exempt from reporting information about their beneficial owners to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), many organizations have questions about whether the exemption applies in certain situations. Here are answers to common questions.
Three External Fraud Threats Churches Should Address
August 23, 2024 - It’s important for church leaders to be aware of and address external fraud risks. Learn about three common risks threatening churches today, along with warning signs to watch for and practical steps you can take to help protect your church.
Internal Audit in Higher Education Institutions
August 23, 2024 - With the right planning and support, ongoing internal audits can provide higher education institutions with significant benefits without a significant investment of resources. Learn how an internal audit can help your institution safeguard your resources, uphold financial integrity, and identify and address risks.
IRS Reopens Employee Retention Credit Voluntary Disclosure Program
August 16, 2024 - The IRS has reopened its Employee Retention Credit (ERC) Voluntary Disclosure Program to allow organizations with erroneous ERC claims to repay the funds at a 15% discount and avoid future audits, penalties, and interest. Applications are due by November 22, 2024.
