Potential Repeal of Unrelated Business Income Tax on Qualified Transportation Fringe Benefits and Change of Private Foundation Tax Rate on Investment Income
On December 17, 2019, lawmakers and administration officials released a tax plan that includes two provisions of interest to the nonprofit community. The first is a retroactive repeal of Internal Revenue Code Section (IRC) 512(a)(7) and the second is a change to the tax rate paid by private foundations on net investment income. These provisions,…
The Bow Tie Method Addresses Risk Holistically
By Jay Mui, PMP, MBA | Supervisor, Risk & Advisory Services Well if you are being literal, 17th century Croatian mercenaries would use a scarf to hold together the openings at the neck of their shirts. King Louis XIII, a great employer of these mercenaries, so enjoyed and promoted this look that it soon became…
The Nonprofit Board Member’s Essential Guide to Financial Statement Analysis and the Audit
Our experts at GRF CPAs & Advisors guide you through the intricate matrix of understanding and analyzing the key components of nonprofit financial statements, the role and restrictions of the auditor, and the overall financial statement audit process. In addition to being key members of our nonprofit audit practice, both our presenters are current members…
Steps for Preventing Employee Fraud in Your Organization
If your organization becomes a victim of internal fraud, it won’t just hurt the bottom line — the incident also could do devastating damage to your reputation. By implementing some simple controls, though, your organization can help protect itself from these risks. Segregate Duties One of the most important preventive measures is the segregation of…
When a Nonprofit Organization Can and Can’t Lobby
There’s a common misconception that nonprofit organizations are strictly banned from lobbying for a political, environmental or some other social issue. Organizations aren’t banned from such activities, but there are potential pitfalls to avoid and nonprofit must operate within certain boundaries. A single misstep could result in severe consequences — including the loss of a…
Find a Corporate Partner for Your Nonprofit Organization
Practically every nonprofit you encounter is stretched thin and could use more workers to help raise funds and conduct other activities furthering its mission. But you can’t always hire more workers in this budget-conscious environment — not with donations trending down during the first half of 2019. Of course, volunteers can pitch in and you…
Nonprofit Succession Planning Made Easy
GRF and nonprofit leadership transition expert Don Tebbe explore how any organization, no matter the size, can begin the process of succession planning. Participants are introduced to the three approaches to executive succession planning and how they can create impact for the organization. The presenters discuss how nonprofits can put in place a board-adopted succession…