Nonprofit Resources
Determining Worker Classifications
October 24, 2024 - When individuals perform work for an organization, there are several specific, defined ways for them to be classified in the organization’s payroll and accounting systems, depending on the nature of their work. It is important to classify workers correctly because errors have tax implications for both the employee and the employer.
Court Affirms Salary Threshold and Duties in Overtime Exemption
October 2, 2024 - A recent court decision has affirmed that, along with certain listed duties, the U.S. Department of Labor can include a salary threshold in the definition of who qualifies for the executive, administrative, and professional exemption from the minimum wage and overtime rules in the Fair Labor Standards Act.
Top Five September 2024 Announcements for Higher Education Institutions
September 30, 2024 - Learn about the top September 2024 announcements that apply to higher education institutions, including information on the extended GE and FVT reporting deadline, suggested documentation to provide when reporting financial responsibility triggers, and more.
Nonprofit Issues Newsletter, August 2024
August 27, 2024 - Learn how to develop and maintain a vendor management program, address common external church fraud risks, create an effective higher education internal audit plan, and more.
Internal Audit in Higher Education Institutions
August 23, 2024 - With the right planning and support, ongoing internal audits can provide higher education institutions with significant benefits without a significant investment of resources. Learn how an internal audit can help your institution safeguard your resources, uphold financial integrity, and identify and address risks.
Webcast for Nonprofits: 2024 Nonprofit Tax Year-End Review
December 12, 2024 - Watch this free recorded webcast for a look at the most important changes taking place in exempt organization tax. You'll learn about areas that are changing and areas that remain unchanged — all with an eye toward what 2025 will bring.
IRS Issues ERC Disallowance Letters and Releases More Warning Signs
August 8, 2024 - The IRS has begun sending letters to organizations denying their Employee Retention Credit claims. These letters typically require some form of response within 30 days of issuance. The IRS also released five new warning signs of incorrect ERC claims.
New Related Party Disclosure Requirements for Higher Education Institutions
July 26, 2024 - The new related party disclosure requirements from the U.S. Department of Education extend beyond what is required under U.S. GAAP. Here’s a look at how Title IV institutions will be affected by this change.
Nonprofit Issues Newsletter, June 2024
June 25, 2024 - Learn about forensic accounting, the amended Title IV regulations, outsourced accounting services, a new bipartisan Clergy Act, school voucher program considerations for K-12 schools, and more.
Building Efficiency and Success: Client Accounting Services for Educational Institutions
June 24, 2024 - As educational institutions and other nonprofit entities seek ways to increase their efficiency and maximize their resources, many are considering outsourced accounting services. These services can expand the capacity of an in-house team, add expertise, free up employees to focus on other important functions, and more.