Nonprofit

Nonprofit restructuring has become easier, but not without challenges

A few years ago, IRS Revenue Procedure 2018-15 changed the rules regarding not-for-profit restructuring. If you’ve participated in a restructuring in the past, you’ll be relieved to know that in many cases it’s now easier. Even so, if recent challenges have led your organization to consider restructuring, it’s important to work with a professional advisor, […]

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Got an endowment? You need an investment advisor

Since the beginning of the pandemic, financial markets have been riding a roller coaster. This volatility is a good reminder that if your nonprofit has an endowment, it could benefit from management by a professional investment advisor. Here’s how to find a qualified advisor. Nonprofit experience required Finding the right investment advisor for your organization […]

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Trade associations: prioritize common interests, not individual services

Watch out, nonprofit trade associations! If your group is a 501(c)(6) organization, your activities could potentially threaten your tax-exempt status. To ensure you’re in compliance with IRS rules, you need to routinely review your member offerings and any business you might conduct. Support common interests in your trade association Trade associations exist to promote their […]

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Even nonprofits can benefit from AI technology

You might think that artificial intelligence (AI) is just about using computers to perform complex tasks that otherwise would require human intelligence. That’s part of it. But several technologies fall under the AI umbrella, including machine learning, natural language processing (NLP), and robotic process automation. Here’s how tools such as these can help nonprofits cut […]

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Your nonprofit may have an internal controls gap

The typical defrauded not-for-profit loses $75,000 per fraud incident, according to the Association of Certified Fraud Examiners. And that doesn’t account for the negative publicity and subsequent lost donations and support that often follow fraud. Although no preventive measure is 100% effective, strong internal controls can greatly reduce the risk that a crooked staffer or […]

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