A Couple of good nonprofit news items that I thought I would share: How Charities Deal with Fraud Do you know of a nonprofit organization whose funds were stolen by a “trusted” employee? What did they do after they found out? If they are like the nonprofits that this article refers to, probably not much. [...]
Categories: IRS, The Nonprofit Sector
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Tags: Contributions, Fraud
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1 comment
Is the end of the year the end of your year? We get questions like this all the time: Question — The end of our fiscal year is December 31. Our offices our closed from December 31 through January 3rd. If funds are sent on or before December 31 but not received and deposited until [...]
Categories: The Nonprofit Sector
| Tags: Contributions, Fiscal Year, quickbooks
| 2 comments
During a recent workshop on the form 990 there were a couple of questions that came up that I said I would get more information on. Reporting In-Kind Income On the form 990 you do report non-cash contributions in Part VIII, Statement of Revenue. The IRS considers non-cash contributions to be anything “other than cash, [...]
Categories: IRS, Tax Forms
| Tags: 990, 990EZ, Contributions, In-Kind Gifts
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Below are questions we have received regarding in-kind donations. The PPC Guide to Contributions has the best guidance out there on in-kind donations and I highly recommend it (along with the PPC’s guide to Expenses) as a worthy investment for your nonprofit’s financial well being. How do we record items for auctions? For question about [...]
Categories: The Nonprofit Center
| Tags: Contributions, Donations, In-Kind Gifts
| 52 comments
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