The Non-Profit Financial Statement Breakdown

AccountingDepartment

While non-profit organizations are not concerned about showing a profit for investors, these entities still must report financial activities to board members and local, state, and federal tax agencies.

Mastercard, Rockefeller Foundation Launch Online Data Platform For Non-Profits

PYMNTS

The philanthropy organizations also revealed today a $10 million “impact challenge” to crowdsource data science initiatives and solutions for organizations in the non-profit, civic, and government space.

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Accountants aid clients struggling with inflation

Accounting Today

Accounting firm services Inflation Consulting Accounting Non-profits

IRS warns against charity scams

Accounting Today

Fraud IRS Tax Non-profits

Common Qualities Possessed by Great Non-Profit Treasurers

AccountingDepartment

The treasurer of a non-profit reports the organization's finances and handles the management of the organization's finances. The best qualities of a treasurer for a non-profit organization include attention to detail, is detail, financial literacy, and accurate record keeping.

Nonprofits facing financial stresses

Accounting Today

Accounting Coronavirus Philanthropy Non-profits

Signal Goes From Non-Profit To Profit With $50M Investment

PYMNTS

21) that it is launching the Signal Foundation with the support of Brian Acton, the co-founder of WhatsApp, who is investing in the new non-profit. In case you missed it, Brian left WhatsApp and Facebook last year, and has been thinking about how to best focus his future time and energy on building non-profit technology for public good,” wrote Signal. Investments Brian Acton funding investors Moxie News non-profit Signal Foundation What's Hot WhatsApp

8 Important Steps for Skagit County Non-Profits Before Year-End

SkagitCountyTaxServices

While I often address my “for profit” clients with these Notes, many of the same strategies (cost controls, marketing, growth, management) apply equally to those who are organized as non-profits. Many non-profit boards only meet once or twice a year.

In the blogs: Lots to look at

Accounting Today

IRS Cyber attacks Tax tools Non-profitsIncome taxes Tax preparation Sales tax U.K.

In the blogs: Capitol punishment

Accounting Today

Tax preparation E-filing GAO Sales tax IRS Estate taxes AICPA Tax tools Non-profits

In the blogs: While we’re on the subject…

Accounting Today

Inflation Tax preparation Sales tax E-signature Marketing IRS Bitcoin Tax tools Non-profits

A Nonprofit's Guide To Successful Fundraising

GrowthForceBlog

Non Profit Accounting & ReportingMost Nonprofits are using some type of dashboard to monitor and track their performance, but which metrics are actually helping you fulfill your mission ? Successful fundraising starts with knowing your numbers.

Uber’s Kalanick Launches New Investment Fund

PYMNTS

According to Kalanick, the fund will oversee his for-profit investments as well as his non-profit work. Our non-profit efforts will initially focus on education and the future of cities.” Investments investment fund News non-profit Travis Kalanick Uber What's Hot

Tap To Give To Charity – Yes, It’s A Thyng

PYMNTS

For non-profit organizations that rely on cash donations, the well is drying up. The company sees where non-profit organizations are falling short, and it’s doing its best to caulk the gaps. Digital Payments charitable giving connected devices credit card payments digital payments donors Featured News Neil Garner News non-profit organizations smart technology Thyngs

Mitek Powers Mobile Deposits For American Cancer Society

PYMNTS

Partnerships / Acquisitions American Cancer Society Mitek mobile deposit non-profits Payment Methods What's HotMitek, a mobile capture and identity verification software company, announced Wednesday (Jan. 4) the American Cancer Society is licensing and integrating Mitek’s Mobile Deposit and MiSnap products into its mobile fundraising app.

Future Forward: Tried & True Plus Some New

Intuitive Accountant

Day 2 of the webinar series kicks off with a panel discussion on profitable accounting miches in the construction, ecommerce and non-profit sectors.

The Holidays are the Season for Charity Fraud

RogerRossmeisl

Fraud perpetrators masquerading as non-profits usually find easy pickings. Know your non-profit The best and easiest way to avoid becoming a charity scam victim is to donate only to charities you already know and trust.

Grant Subrecipients and Your Responsibilities

LSLCPAs

Local government agencies and non-profit entities receive grant funding either directly or indirectly from federal agencies and may pass some of the funding or all of it to subrecipients to carry out the programs. Government Not for Profit Not for Profits

How To Balance Profit Centers And Cost Centers In Your Construction Company

Randal DeHart

Success in operating a profitable construction business is all about maintaining the proper balance of control over both The Profit Centers and The Cost Centers.

Choosing the right firm for your Business Bookkeeping Services

MyIRSRelief

Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm.

What’s new: state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Florida sales tax exemptions on hurricane-preparedness items may soon encompass purchases of pet food, thanks to the lobbying of a local Girl Scout troop. Alabama ?has

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Los Angeles Business Bookkeeping Services – Choosing the right firm

MyIRSRelief

Our firm is based in Whittier, Los Angeles, California and we serve clients in various industries, such as real estate, construction, insurance, automotive, healthcare / medical, franchises, restaurants and bars, manufacturing, retail / wholesale, distribution, import / export, lawyers, non-profits, IT / technology / software, startups, farming, churches, freelancers and many more.

Sales Tax Obligations for Manufacturers and Wholesalers, Part 1: Resale Certificates and Exemptions

TaxConnex

An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example.

6 Ways a Budget Helps Your Business Plan

LSLCPAs

A budget can be used to plan, control, motivate, measure, evaluate, and communicate for both profit and non-profit organizations in any industry. A budget helps your business plan stay on track.

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Multi-channel selling sales tax: Wholesalers and Drop Shipping

TaxConnex

An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example. Sales of tangible personal property (TPP) are presumed to be taxable unless specifically identified as not taxable.

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FASB Votes Against Extending the Lease Accounting Standard Due Date

LSLCPAs

Private Companies and Non-Profits Must Comply by Original Deadline. The Financial Accounting Standards Board FASB rejected the Pennsylvania Institute of CPA’s (PICPA) request for a two-year extension of the lease accounting standard’s due date.

Bill Bradshaw Named to ROI-NJ’s List of Most Influential DEI Leaders in 2022

Withum

No stranger to DEI leadership positions, Bill also sits on the Board of Garden State Equality (GSE), New Jersey’s largest LGBTQ organization, and The Center, a non-profit HIV/AIDS service organization at the Jersey Shore.

Horse Racing On My Mind

RitaKeller

We also visited Old Friends Farm , a non-profit that provides a retirement place for former racing thoroughbreds “Remember that the most valuable antiques are dear old friends.” ” – H. Jackson Brown, Jr. I was fortunate late last week.

5 FAQ When Choosing a Los Angeles CPA or EA

MyIRSRelief

Answer : A CPA is a highly trained professional that is capable of keeping track of all the financial information about your specific business, profit and loss, balance sheet statements. One of the most important aspects of a company to the owner or operator is the financial side.

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Case Study: COVID Tracker Powered by Power Platform Eases Not-for-Profit Agency’s Return to the Workplace

Withum

Learn how a non-profit organization in New York City, which has provided essential services throughout the pandemic, leveraged its existing investment in Microsoft 365 to create a customized vaccine and testing tracker application.

Update: SBA Clarifies Audit Requirements for Shuttered Venue Operators Grants

Withum

The audit requirement is different for non-profit entities (referred to as non-Federal entities within 2 CFR 200) and for-profit entities. SBA will utilize an Audit Reporting Action Item to collect audit report packages from non-Federal and for-profit entities.

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Happy 125th Birthday, KPMG!

Going Concern

KPMG’s 90 offices across the country identified 450 local non-profits to support for the 125th anniversary celebration. Today is August 2 and KPMG is turning 125!

Small Business Relief Grant From Restaurants Care

KROST

RESTAURANTS CARE : Restaurants Care is an established, non-profit program of the California Restaurant Foundation.

Committees

RitaKeller

Please keep in mind that your firm is a business, not a non-profit. Also, keep in mind how much non-productive time many partners spend if you have them on various committees. “I am not a committee.” Princess Leia, The Empire Strikes Back. As May the 4th was yesterday, the above quote via Princess Leia caught my attention. Can you believe that Star Wars was released 45 years ago on May 25? Anyway, back on topic.

ShoppingGives: When Philanthropy Makes Good Business For Retailers

PYMNTS

Yet, American consumers have opened their bank accounts for non-profits. According to The Chronicle of Philanthropy , after tanking in the first quarter, non-profit donations rose with the pandemic in Q2, heading for a 7.5

Case Study: NYC Covid Tracker

Withum

Microsoft Power Platform – created Covid vaccination and testing tracker helps Non-Profit agency comply with quickly changing NYC mandates and get staff back to the office.

SVOG Audit Requirements: SBA Provides Updated Guidance

Withum

The audit requirement is different for non-profit entities (referred to as non-Federal entities) and for-profit entities. SBA will utilize an Audit Reporting Action Item to collect audit report packages from non-profit and for-profit entities.

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Lessons From the Front Lines: Establishing a Legal Entity

GlobalUpside

Originally, they were set up incorrectly as a Non-Resident Employer. For over two decades, we have supplied public, private, and non-profit organizations of all sizes with integrated growth solutions.

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The Leadership Podcast: Prisoners of Our Own Perspective

RLLeaders

7:15] Whether it be non-profit, business, or government, they’re not making conscious time to create space for the long-term picture and the health of the organization.

Equifax In Data Pact With FinTech Sandbox

PYMNTS

FinTech Sandbox is a non-profit that serves the financial sector through data and infrastructure provided to startups. Equifax said that in addition to the data provided, the company will also offer analytical support to the non-profit, spanning data to deployment across what it termed the “full analytical life cycle.” Equifax said Friday that it has entered into a joint collaboration with FinTech Sandbox in an effort to spur global FinTech innovation.

Top 6 Countries with the Highest Corporate Tax Rates

GlobalUpside

If they are a non-resident company, they are usually taxed through the registered subsidiary, branch or permanent establishment, based on income generated locally. Companies can be taxed based on the ‘actual profits’ method (APM) or the ‘presumed profits’ method (PPM).

The Growing Need for Cannabis Business Valuations

Withum

Upon conversion from a non-profit entity to a for-profit entity, which is a taxable transaction. This is typically used when the entity is not usually profitable and has little if any intangible assets.

Accounting Software For Nonprofits 2022: What To Look For

Accounting Seed

The goal of accounting for nonprofits is accountability rather than making a profit. Nonprofit organizations have very different needs compared to their for-profit counterparts. Here’s a list of various helpful dashboards for your non-profit to consider.