Legacy Professionals News
Recent Updates
Follow us: @LegacyCPA
Whether your not-for-profit is continuing to hold videoconference board meetings or is back to in-person gatherings, you don’t want to waste members’ time. Board meetings
- Nonprofit Updates
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
- Nonprofit Updates
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
Additional Resources
Let Us Help You
If you would like more information about our Firm or would like to find out how we can work with your organization.