By Jeff Schreifels Back in my direct response days, August and September were crucial months to set the tone for the year-end fundraising push. But what you may not realize, if you haven’t been in direct response or annual giving, is that year-end planning starts months in advance. (Think… March.) Yet, too often, mid-level and major …..

By Anita Dennis Many not-for-profit organizations dread the unrelated business income tax (UBIT) because it can be a challenge to sort out when a not-for-profit’s activities are subject to the tax and when they are not.  However, it’s important that organizations that qualify as tax-exempt get their arms around UBIT’s uncertainties. More than 80,000 exempt …..

Have you been hearing the term CECL in financial and accounting circles?   CECL, pronounced “sea seal” is the common short-hand for Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (topic 326). CECL doesn’t just apply to financial institutions, it applies to nonprofits too.   The main goal of the standard is to …..

By Paul Clolery Nonprofit employees with 403(b) retirement plans would be able to participate in collective investment trusts (CITs), if new federal legislation passes and is signed into law. A CIT is a tax-exempt investment vehicle that is similar to mutual funds that provides a diversified, pooled investments. Under current law, 401(k) holders, 403(b) plan …..

As Boomers and Gen Xers approach retirement, effective financial planning becomes crucial to ensure a comfortable and secure future. This article outlines essential tax and financial planning strategies tailored to the unique needs of individuals nearing retirement. By understanding and implementing these strategies, you can navigate the complexities of retirement planning with confidence. Understanding Retirement …..

The Employee Retention Credit (ERC) was introduced as a part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020 to help businesses keep employees on their payroll during the COVID-19 pandemic. The credit was designed to provide financial relief to businesses that experienced significant declines in revenue or were forced to suspend …..

In an era where digital transactions and online interactions have become the norm, the specter of identity theft looms large, posing significant challenges and potential financial hazards for individuals. Among the various forms of identity theft, tax-related identity theft is particularly insidious. It occurs when someone uses your stolen personal information, including your Social Security …..

Proper accounting is the backbone of any successful small business. It ensures that your financial records are accurate, helps you make informed decisions, and keeps you compliant with tax regulations. However, many small business owners, who juggle multiple responsibilities, often commit common accounting mistakes that can lead to significant issues down the line. Avoiding these …..

Dealing with the IRS can be a daunting experience, especially when you receive an audit notice. Understanding the different types of IRS audits and what each entails can help you navigate the process more effectively. However, it’s crucial to recognize that handling an audit is not a DIY task. Professional assistance can make a significant …..

It’s your time to shine Who is your favorite author? What is the best book you’ve read?  I really love Taylor Jenkins Reid and Madelline Miller. My favorite book of all time is The Book Thief by Markus Zusak. What is your favorite movie and/or TV show? I’ve rewatched Friends, The Office, and New Girl …..

Nathan Wechsler & Company is excited to announce several key promotions within the Concord office, recognizing the outstanding performance and dedication of Kaitlin Morin, Brianna Sawyer, James Shokal, and Nathan Bulluck. Kaitlin Morin, Supervising Senior Kaitlin Morin has been promoted to Supervising Senior. Kaitlin’s exceptional skills and leadership have greatly contributed to the firm’s success. …..

By Bill Remy American manufacturers are dealing with a talent crisis. With over 40% who say hiring talent is their biggest challenge and the 90-day turnover rate reaching 30%, it’s no wonder companies are struggling to meet their production goals. The problem isn’t that people don’t want to work. It’s that so many companies are failing to …..

By Sakshi Udavant Companies like Fastenal and TE Connectivity have launched successful mentorship and training options for current employees and emerging leaders. With the manufacturing industry facing a worker shortfall of nearly 2 million people, many manufacturers are turning to mentorship programs to build a talent pipeline and prepare existing workers to take on leadership roles. The …..

It’s your time to shine   Who is your favorite author? What is the best book you’ve read? Stephenie Meyer and the Twilight Series   What is your favorite movie and/or TV show? My favorite movies are the Twilight series. I grew up watching them and then read the books as an adult and loved …..

During Q3 of 2023, businesses in the United States made approximately $3.3 trillion, according to Statista. This is right behind the third quarter of 2022, when corporations in America made even more money. These figures are the net income of the respective periods, according to the National Income and Product Accounts (NIPA). With profits reaching …..

Anyone who lives in a highly seasonal tourist destination knows you can make money on short-term rentals during events and festivities in your city or town. Think high concentration, short-term, tourist-driven events such as the horse racing season in Saratoga Springs, N.Y., or The Masters Tournament in Augusta, Ga. As a result, it is common …..

The accounting term working capital is essential knowledge for all business owners. It is the ability of a business to meet its ongoing obligations. Learning about some of the different aspects of working capital is vital for any successful business owner. Net operating working capital (NOWC) is the gap between a business’s current assets (accounts …..

or Danielle Dougherty, assistant director of grants management at Winterthur Museum, Garden & Library, her grant management strategy grew from the struggles she experienced throughout her career. Despite scrambling to gather details or documents and submitting last-minute applications, she had success in securing grants, but knew there had to be a better approach. “I never really …..

It’s no secret that most nonprofit organizations don’t pay people what they’re worth. Yet despite this, nonprofits still have a powerful draw. Many people leave better-paying careers to dedicate their lives to service and making a difference in their communities. You couldn’t ask for a better recruiting tool. Too often, though, nonprofits’ compensation packages are …..

With fundraising down for yet another year in 2023, it may be time to try a few new approaches to regain momentum for 2024. If you’ve already embarked on implementing tactics from our “40 Trends for 2024,” here are four more tactics NonProfit PRO discovered at this week’s AFP ICON. Don’t Forget to Ask for Non-Cash Donations Working with high net …..