If you are involved with leadership of a nonprofit organization then you are likely to be aware of the effort and expense to boost the online presence and branding of your organization online. It’s all the rage today. These efforts usually revolve around bolstering the organization’s web site and then outreach through social media. The real questions […]
Here is an interesting and simple tax planning tip where a nonprofit company has so much unrelated business or investment income that it threatens the entity’s nonprofit status. Just form a one member subchapter S corporation owned by the nonprofit and the income flows through to the Form 990 but does not threaten nonprofit status.
Community organizations often sponsor seasonal events that require the use of short term labor. When volunteer labor is not available, there may be tax implications of paid services. Even though the dollar amount per worker is small, the total cost can be a significant portion of the organization’s overall budget. A single-member LLC is managed […]
I’ve often had the opportunity to work as the volunteer accountant, trustee or adviser for some great charitable organizations. In the course of this work, I meet plenty of other like-minded generous people. One amazingly common misperception that many of these people share is a misunderstanding of the tax treatment of donated time or services. […]
Since the early days of online accounting, I’ve preached that some of the obvious beneficiaries of this technology are nonprofit groups. One primary advantage is decentralization of information. In the past only the Treasurer might have had access. Board members might be updated at periodic meetings. Now all board members with access to the online books […]