If your not-for-profit periodically prepares internal financial statements for your board, you may have noticed that your auditors propose adjustments to these interim statements at year end. Why do auditors do this? Generally, it reflects differences due to cash...
Not-for-profit organizations may operate under the assumption that their missions and their board members’ good intentions protect them from litigation. Sometimes, this assumption is proven wrong with a lawsuit. To protect your leaders from financial exposure,...
With the competition for donation dollars fierce right now, many not-for-profits are turning to influencers — from Hollywood celebrities to politicians to blog stars — to raise awareness of their organizations and causes. But before your nonprofit solicits influencer...
When estate planning, the items that make up tangible personal property, such as jewelry and antiques, may be the most difficult to plan for because of their sentimental value. A personal property memorandum may be the answer. http://bit.ly/2OeDaah
Millennials are changing our tax practices. Here’s how http://bit.ly/2YbrqG8
The Good: Recognition of hard work, extended weekend, football is back.The Bad: “End” of Summer, hot dog season and wearing white.Happy Labor Day weekend everyone from your friends at Squire, Lemkin + Company!
Income from endowment funds may be able to help your not-for-profit meet operating expenses, ease cash-flow problems and supplement next year’s annual budget. But you need to pay attention to several factors, including investment performance, inflation, operational changes and — the only factor you can truly control — your nonprofit’s spending policy. Know your restrictions […]
Our offices will be closed on Monday, December 26th and Monday, January 2 in honor of the respective holidays. We wish you a very happy holiday season.
The IRS considers a paper return that’s due April 15 to be timely filed if it’s postmarked by midnight on April 15. But dropping your return in a mailbox on the 15th may not be sufficient.For example, let’s say you mail your return with a payment on April 15, but the envelope gets lost. You […]