Raffles are popular fundraisers for not-for-profits. But they’re subject to strict tax rules. State laws on nonprofit-sponsored raffles can vary significantly, but nonprofits must comply with federal income tax requirements linked to unrelated business income, reporting and withholding. Unrelated business… Read More
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Don’t let unemployment insurance fleece your nonprofit
Is your not-for-profit overpaying unemployment tax? Many employers are and don’t know it. Here’s how to find out and possibly reduce unemployment costs. Ensure accuracy The burden is on employers to ensure unemployment charges are accurate and to seek repayment… Read More
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The operating reserve is your nonprofit’s financial safety net
An operating reserve is an unrestricted and relatively liquid portion of a not-for-profit’s net assets. Securing this reserve for use in emergencies or simply when your budget falls short is critical to your organization’s security and long-term survival. Long-term effort… Read More
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Charitable donations: Unraveling the mystery of motivation
Traditionally, Americans have supported charities not only for tax breaks and a vague sense of “giving back,” but also for a variety of other financial, emotional and social reasons. Understanding what motivates donors and how their motivations vary across demographic… Read More
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Are your volunteers putting your nonprofit at risk?
Not-for-profits that direct and benefit from the actions of their volunteers can be held accountable if those individuals are harmed or harm others on the job. Lawsuits involving volunteers often arise from allegations of negligence or intentional misconduct, even when… Read More
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Nonprofits: Look before you leap international borders
Many not-for-profits look beyond the United States to boost revenue. They recruit members, sell products, promote conferences or solicit donations abroad. But it’s important to look before you leap borders; consider not only potential windfalls, but also pitfalls. Research your… Read More
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5 questions can help nonprofits avoid accounting and tax mistakes
To err is human, but some errors are more consequential — and harder to fix — than others. Most not-for-profit organizations can’t afford to lose precious financial resources, so you need to do whatever possible to minimize accounting and tax… Read More
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Refine your strategic plan with SWOT
With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing touches on it yet. In either case, there’s a time-tested… Read More
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Is your business stuck in the mud with its marketing plan?
A good marketing plan should be like a network of well-paved, clearly marked roads shooting out into the world and leading back to your company. But, all too easily, a business can get stuck in the mud while trying to… Read More
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Getting wise to the rise of “smart” buildings
Nowadays, data drives everything — including the very buildings in which companies operate. If your business is considering upgrading its current facility, or moving to or constructing a new one, it’s important to be aware of “smart” buildings. A smart… Read More