Federal Tax Relief to Alleviate COVID-19 Hardships
The coronavirus (COVID-19) pandemic has already had widespread effects on the U.S. economy. Demand for many goods and services has stalled. Unemployment claims have skyrocketed. And many schools and businesses are operating online — if at all. Life has changed dramatically across the country. The federal government has been working on various relief measures to…
COVID-19 Response for Individuals, Small Businesses and Nonprofits
Individuals, small businesses and nonprofits are all feeling the impact of the COVID-19 crisis. With news and information coming from many different directions, it is difficult to understand how to respond when it comes to taxes, cash flow, workforce planning, IT security and general crisis management ― all while working remotely. GRF CPAs & Advisors…
How to Manage COVID-19-Related Business Risks
The coronavirus (COVID-19) outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, business owners and managers face an uncertain and stressful future. Faced with faltering demand, anxious employees, health safety risks and a lack…
Successful Nonprofit Cybersecurity & Privacy for Remote Work
As a result of social distancing to slow the spread of COVID-19 (coronavirus), nonprofits are more reliant on technology than ever before to deliver on their mission through remote work. Measures to control and prevent the spread of the disease have increased the need for the integration of digital technology into all aspects of the…
Business Continuity Planning
Business Continuity Planning Provides Organizational Resilience Unplanned disruptions can adversely affect the operations of any organization, no matter the size, putting it and its stakeholders at significant risk. Fortunately, strategic investments and scenario planning can give your organization a competitive advantage over those who are unprepared for a variety of contingencies. Business Continuity Plans (BCP)…
Continuity of Operations Considerations for Nonprofits during a Pandemic
Business Continuity Plans (BCP) are important part of risk management and can include scenarios such as pandemics like the coronavirus, government shutdowns, natural disasters and cyberattacks. Risk management planning for a pandemic involves identifying risks and assessing the impact and developing mitigation strategies to manage risks. If your nonprofit does not have a plan in…
Digital Transformation for Nonprofits
Digital technology is changing the way organizations operate. In 2020, digital disruption offers a number of benefits, but the risk associated with transformation is real and addressing that risk should be a top priority on your Enterprise Risk Management plan. The good news? With careful planning and coordination, nonprofit and association leaders can take action…
Best Practices in Enterprise Risk Management
An increasing number of organizations have embraced Enterprise Risk Management (ERM) ― a structured and continuous process designed to provide an organization’s board and senior leaders with a strategic perspective of risks so they can be managed proactively. Read our latest industry report that examines how nonprofit and associations are utilizing ERM best practices to…
Is Your Family Medical Leave Policy Up-to-Date?
The Administrator of the Department of Labor’s Wage and Hour Division (WHD) periodically responds to new Family Medical leave Act (FMLA) compliance questions from employers and employees. Notable ones are posted for the benefit of people facing similar situations. Here’s a sampling. A recent case deals with whether an employee’s time away from work to…
New e-Filing Requirements for Tax-Exempt Organizations
Under a little-noticed provision buried deep in the Taxpayer First Act, tax-exempt organizations will be required to file certain information returns and related forms electronically. Your nonprofit organization should be prepared for this change that goes into effect for tax years beginning after July 1, 2019. Background Information The Taxpayer First Act, signed by President…