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Discussion Corner: Accounting Rules for Silent Auctions from Donated Articles?
Dear Blue Avocado, I have organized silent auctions for a nonprofit senior center for years. Donors used to drop off an item and receive a receipt from the center. The donor listed the donation and the value on this receipt, which they us …
Do Nonprofits Pay Taxes? Do Nonprofit Employees Pay Taxes?
We often get questions from our readers about whether a nonprofit organization must pay taxes, or whether individuals working at a nonprofit must pay taxes. While there are lots of details to get into depending on the situation, here’s a summary about …
What a Finance Committee Can Do for Your Board of Directors
Implementing a finance committee of the board of directors was one of the best things our organization ever did—here’s why. Baby Bear Hugs’ mission is enhancing family strengths for happy and healthy children, families, and communities. The program pro …
Functional Expenses Decreased During Covid-19? How to Prepare for Conversations with Funders
The topic of functional expenses has garnered attention at nonprofit board meetings over the past year. Many nonprofits feel pressure from foundation and government funding sources to maintain a certain level of program expenses as a percentage …
Alleviate Accounting Systems and Staff Training Chokepoints to Power Nonprofit Missions: A Case on How One Oregon Nonprofit Did It
Part 2: Personal to Personnel In 2019, I came to Lost Valley Education and Event Center (LVEC), first as a student, then as LVEC’s bookkeeper, with no prior training in the craft other than management of my own finances and my stint as an Air Force Int …
The Employee Retention Credit: What Nonprofits Need to Know
Originally enacted as part of the CARES Act in March 2020, and subsequently voted into law last December, the Employee Retention Credit (ERC) may now be claimed by eligible employers—and that includes tax-exempt nonprofit organizations—that previously …
Alleviate Accounting Systems and Staff Training Chokepoints to Power Nonprofit Missions: A Case on How One Oregon Nonprofit Did It
Part 1: Innovation is Iterative In 2019, I came to Lost Valley Education and Event Center (LVEC), first as a student for the Holistic Sustainability Semester (HSS), one of LVEC’s programs, and then began employment as LVEC’s bookkeeper, with no prior t …
Running Your Nonprofit’s Accounting Department During Covid-19 and After
When stay-at-home orders hit a year ago, was it a seamless transition for your nonprofit, or was your bookkeeper sneaking into the office early on Saturday mornings to scan documents and do work on your desktop version of Quickbooks? Your organi …
A Primer on Nonprofit Contributions and Revenue from Contracts with Customers
The Impact of ASU 2014-09 on Nonprofits You may have heard the buzz about the new revenue recognition standard, Revenue from Contracts with Customers, (ASU 2014-09), which is now effective for all nonprofits. You’re wondering what kind of impact, if an …
Best Tactics for Finding Government Grants Suitable for Your Nonprofit
Organizations and nonprofits spend a majority of their grant development operations focusing on private rather than government funders. This is for good reason, as government grants, especially federal grants, are extremely competitive and rather compl …
