Legacy Professionals News
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When not-for-profits first start up, fundraising can be an ad hoc process, with intense campaigns followed by fallow periods. As organizations grow and acquire staff
- Nonprofit Updates
Your not-for-profit may prefer to avoid activities that subject it to unrelated business income tax (UBIT). But if you accept advertising or sponsorships that aren’t
- Nonprofit Updates, Tax Info
As the COVID-19 pandemic finally seems to be fading in the United States, your not-for-profit organization may be making plans for its post-pandemic future. Is
- Nonprofit Updates
If your not-for-profit organization accepts contributions of nonfinancial assets, such as land, services and supplies, you should know about Financial Accounting Standards Board (FASB) rules
- Nonprofit Updates
If your not-for-profit periodically prepares internal financial statements for your board, you may have noticed that your auditors propose adjustments to these interim statements at
- Nonprofit Updates
Not-for-profit organizations may operate under the assumption that their missions and their board members’ good intentions protect them from litigation. Sometimes, this assumption is proven
- Nonprofit Updates
Not-for-profit organizations are different from for-profit businesses in many vital ways. One of the most crucial differences is that under Section 501(c)(3), Sec. 501(c)(7) and
- Nonprofit Updates, Tax Info
Many organizations get stuck in procedural ruts because it’s easier in the short term to continue doing things the way they’ve always been done. But
- Nonprofit Updates
No one needs to tell nonprofit organizations how tough the past year has been. According to the John Hopkins Center for Civil Society Studies, 7.7%
- Nonprofit Updates, Tax Info
Your accounting and development departments are central to the continued financial health of your not-for-profit. So what happens when communication between these two functions break
- Nonprofit Updates, Tax Info
Due to increased demand for outsourced accounting services, (for non-audit/attest clients), we’ve expanded our accounting services department. Services include Bookkeeping, Monthly, Quarterly, and Annual Reporting,
- Nonprofit Updates, Tax Info
On May 15, 2020, the Small Business Administration (SBA) issued the much-anticipated Loan Forgiveness Application (SBA Form 3508) for the Paycheck Protection Program (PPP). As
- Employee Benefit Plan News, Nonprofit Updates
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