Employers that may be considered “applicable large employers” – Those with 50 or more full-time workers, including full-time equivalent employees (see following definitions) – Should be taking steps to determine whether they fall within requirements of the Employer Shared Responsibility (RSR) provisions under the Patient Protection and Affordable Care Act (ACA, or “Obamacare”). The provisions, […]
by The NonProfit Times – January 29, 2014 Although the very word “committee” can send people running for the exits, they are necessary in many areas of nonprofit operations. One such area is audits. During the AICPA Not-for-Profit Industry Conference, Frank Kurre, New York office managing partner for Grant Thornton LLP, and Donna O’Brien, president of […]
When the founder or longtime executive of a nonprofit leaves an organization, the board often grapples with how to say goodbye and thank you. This question is loaded with complexities— feelings and relationships come into play, as do financial, legal, and reputational risks and rewards. There is a range of motivations for considering an exit […]
WRITTEN BY JOHN BROTHERS CREATED ON WEDNESDAY, 02 OCTOBER 2013 According to various experts and recent federal government guidance, nonprofit organizations receiving federal government funding should pay attention to several important areas. Alicia Schoshinski, a senior HR consultant writing for an online service called Nonprofit HR, states, “There is still a lot of uncertainty surrounding this issue (federal […]
WRITTEN BY PAUL T. HOGAN CREATED ON WEDNESDAY, 02 OCTOBER 2013 “Begin with the end in mind.” The second of Stephen Covey’s famous “7 Habits of Highly Effective People” carries cartloads of implications for anyone planning pretty much anything. Knowing what is ultimately to be achieved guides every decision at every point along the way, and, most […]
WRITTEN BY EILEEN CUNNIFFE CREATED ON MONDAY, 22 JULY 2013 15:04 The nonprofit board is a funny animal, perhaps not optimally designed for success. I once heard it described as the only team sport in which the team never gets to practice—yet every time they show up, it’s game day, and the action is live. The governance […]
Fundraising is the lifeblood of most nonprofits. It’s provides you with your revenue or funding to implement initiatives that advance the mission of your organization. There are an almost unlimited number of ways a non-profit organization can go about raising funds. And while many of them may have merits, it is critical for any organization […]
Is the IRS Targeting of Conservative Groups a Threat to the Nonprofit Sector? Michael Wyland believes so, and details why in the latest Nonprofit Quarterly. All individuals and groups should be treated equally under the law. In this case, that includes how their Form 1024 applications for tax-exempt recognition as 501(c)4 “social welfare” organizations are […]
Will Combined Federal Campaign donors be more eager if they believe 100% of their dollars go to charitable operations rather than OPM’s operating costs? In light of Ruth McCambridge’s newswire that participation and donations in the Combined Federal Campaign have been on the decline for the past three consecutive years, the news from President Obama’s […]
A recent and very harsh Tax Court ruling has placed even more emphasis on charitable organizations to adhere to the IRS regulations regarding contributions and the acknowledgement letters provided for those contributions. Recently, the Tax Court disallowed a taxpayer’s substantial charitable contribution deduction because the charitable organization failed to provide a properly completed contemporaneous written […]
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Squire, Lemkin + Company, LLP is a Rockville, MD accounting firm providing audit, tax, accounting and not-for-profit consulting services to companies across the East Coast. Our firm has expertise in not-for-profit Organizations, Entrepreneurial Businesses, Professional Service Firms, High Net Worth Individuals, Estates and Trusts, Employee Benefit Plans and Individual Tax Returns.
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