Nonprofit Agenda Newsletters

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Article Summaries

New Campaign Finance Reform Act Affects Tax Exempt Political Organizations

In March 2002, the president signed the Bipartisan Campaign Reform Act into law. The act will greatly affect trade and professional associations in several areas. This article takes a closer look at the legislation, the various filing requirements and how it might affect your organization. 

5 Steps to Effective Chapter Financial Management and Reporting

Efficient chapter financial management and reporting is a cornerstone of a well-run nonprofit. And for a nonprofit with chapters or affiliates, getting timely financial reports from them is no doubt a challenge. This article outlines a case study in which a national medical association successfully implemented an efficient chapter financial management and reporting model.

 News for Nonprofits

This section reports on Form 990 changes, deduction limits on donated appreciated stock, the results of a nonprofit work force survey and the IRS’s 2003 work plan.

Will Your Assets Reach the Desired Destination?

Whether Updating or Creating, Steer Your Estate Plan Clear of Trouble

With the estate tax set for repeal in 2010 — and tax rates, exemptions and other important rules changing in the meantime — many people might be tempted to postpone updating or creating their estate plans. But with so much changing and so many new opportunities available, now may actually be the worst time to abandon estate planning. This report discusses three challenges — heeding tax implications, planning gifts and assessing personal circumstances — that all taxpayers need to consider, whether they’re updating an estate plan or creating a new one. Click here

Tax Reduction Strategy Guide

See the 2002 issue for a newsy, informative report, “Finally, They’re Finalized: IRS Enacts New, Better Retirement Plan Distribution Rules,” about how taxpayers can take advantage of these changes to maximize the opportunities for tax-deferred growth in their retirement accounts. Year End 2002 issue has 4 Fundamental Tax Saving Strategies … And How To Fully Use Them

Is Your Auditor Independent? Enhanced Scrutiny Requires Renewed Attention

In the wake of the Enron scandal, auditor objectivity has received increased scrutiny not only by Congress, but also by businesses and nonprofits. Although aggressive accounting treatment of off-balance-sheet debt and inflated stock prices are of little consequence to nonprofits, auditor objectivity is essential to stakeholder confidence. This article looks at five ways to determine auditor independence.

How To Cultivate and Maintain Successful Employment Relationships

Some charitable organizations have significant cash and property assets, but their most valuable assets — their staff members — don’t appear on the balance sheet. Without a well-trained, committed staff, a nonprofit stands little chance delivering its program services or raising so much as a dime. This article examines how properly managing your human resources will ensure a nonprofit’s long-term stability and success.

News for Nonprofits

This section reports on a recent GAO investigation of inadequate IRS charity oversight, new IRS publication 1771, the final rules relating to the taxation of tax-exempt organizations’ revenue from corporate sponsorships and the IRS’s major strategies and operational priorities for certain nonprofit market segments.

2002 Act Expands, Extends and Clarifies Earlier Provisions

Signed into law in March, the Job Creation and Worker Assistance Act of 2002 doesn't convey the sweeping reforms of the Economic Growth and Tax Relief Reconciliation Act of 2001. Rather, it seeks to expand some of its predecessor's provisions, extend many expired or about-to-expire tax breaks, and even provide “technical corrections” to previous legislation. This report covers this most recent tax law’s highlights, including a special depreciation write-off for business equipment purchases and an extension of the unemployment benefits limit.

Use Your Budget as a Planning Tool

A nonprofit often uses its budget as a blueprint for deciding which projects or activities it can afford to pursue during the coming year. But if an organization doesn’t properly plan its budget, it won’t be financially prepared for the future. This article looks at how nonprofits can use budgets to guide themselves toward a better tomorrow.

 Treasurers Play a Critical Role in a Nonprofit’s Financial Survival

Historically, a nonprofit’s treasurer’s main function has been to ensure the organization’s financial integrity. But, ultimately, he or she is responsible for a nonprofit’s compliance with government standards as well as the organization’s short- and long-term financial goals. In this article we explore the ever-expanding roles treasurers play and how they can help a nonprofit manage its funds and grow financially.

Design Your Web Site To Improve Your Bottom Line and Generate Revenue

Many nonprofits fail to fully harness their Web sites’ potential power. The Internet’s speed and automated administrative functions as well as its ability to disseminate information make it a unique marketing tool. This article looks at how to maximize a site’s value and increase revenue.

Be Sure You Know All the Tax Consequences of Untimely Contributions

The Gift That Keeps On Giving — To the IRS Many donors and nonprofits alike fail to adequately consider the tax and financial consequences of charitable gifts. As unreasonable as it may seem, some donors expect the benefiting nonprofit to look out for their interests and they get upset when they discover it’s their responsibility to do so. Naturally, donors want as large a tax deduction as legally possible. But without professional advice they may inadvertently structure gifts that create devastating tax bills. This article looks at various scenarios nonprofits should prepare for to protect their donors and themselves from nasty tax bites.

Consider Regular Audits Despite the Absence of Federal Requirements

Surprisingly, the IRS doesn’t require nonprofits to perform audits. But conducting an audit at least annually makes good business sense. Not to mention that they are a good communication tool for your employees and board members, and may be required by local law or grantors. This article explores the common circumstances where audits may be appropriate.

Teach Your Donors the Benefits of Planned Giving

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(c)2001-06 Fraser CPA - Last Updated 05/01/2006