What Form 990 Can Tell Donors and Watchdogs

What Form 990 Can Tell Donors and Watchdogs

IRS Form 990 includes specific information that helps donors and watchdogs assess and monitor nonprofit organizations. In a single document, it provides a snapshot of the financial health, governance, and operations of a nonprofit. Form 990 gives nonprofits an...

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What Your Nonprofit Needs to Know

What Your Nonprofit Needs to Know

It is not uncommon for nonprofit organizations to receive donations of tangible property from supporters in addition to cash contributions. Special rules apply when valuing such property and providing donors with the right kinds of documentation to substantiate...

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Watch Out for Scam Charities

Watch Out for Scam Charities

There are a multitude of reputable charities doing good deeds and supporting worthy causes, but scams designed to separate you from your hard-earned money without actual performance of charitable services also exist. You might think that you are too street savvy to be...

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Time to Check Your Beneficiary Designations

Time to Check Your Beneficiary Designations

Many people are aware of the important reasons to develop a comprehensive estate plan. However, not everyone realizes the plan cannot be ignored after its creation. One estate-planning issue that requires your ongoing attention is beneficiary designations. The steps...

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Encourage Legacy Gifts to Your Nonprofit

Encourage Legacy Gifts to Your Nonprofit

If your nonprofit focuses most of its fundraising energy on donors who can contribute to your mission and programs now, you may have neglected legacy gifts. Such gifts represent a portion of wealthy donors’ estates that go to your organization upon their death. Legacy...

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Year End Tax Planning Tips

Year End Tax Planning Tips

With year end fast approaching, it is time to consider tax planning moves that may lower taxes for the 2022 tax year — and possibly set you up for tax savings in future years as well. The good news is, at this time, it appears there will not be any significant...

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Succession Planning Requires Smart Strategies

Succession Planning Requires Smart Strategies

Succession planning is important in any business, but it is sometimes overlooked in family-owned operations. This is a big mistake. There are many family-run companies that no longer exist because of a poor succession plan or none at all. Begin the Conversation The...

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Avoiding Nonprofit Tax Traps

Avoiding Nonprofit Tax Traps

If your organization has met the IRS qualifications to be considered tax-exempt, the income you receive — such as donor contributions — is exempt from federal income tax. However, it is still possible for nonprofits to follow the rules and experience adverse tax...

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Valuing ESOPs

Valuing ESOPs

Employee stock ownership plans (ESOPs) provide tax-saving opportunities for business owners who want to cash out and transfer ownership to employees without immediately giving up control of the business. However, valuing stock held by an ESOP is an ongoing challenge...

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