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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 …
IRS Tax Form 990 [Deadline Extended]: How to File It, When to File It, and Why It’s So Important
Special Covid-19 note: The IRS is giving a break this year to individuals and businesses. The IRS states in Relief Notice 2020-23 that filing due dates, including extensions, which were due after April 1st but before July 15th, can be postponed until J …
What Happened to My Annual Appeal? The Effect of the 2018 Tax Overall on Nonprofit Donations and the Rise of DAFs
With the holidays behind us and budget planning around the corner, it’s a good time to reexamine the effectiveness of the organization’s revenue sources, including the end of year appeal. Traditionally, the holidays at end-of-year is the time many dono …
Your IRS Form 990 Questions Answered
Do you ever have a question about your IRS Form 990 and can’t seem to find the answer? Today we’ll give you some valuable information concerning your filings, written in plain English with links to forms, websites, and information that will hopefully k …
The Nonprofit Student-Debt Conundrum
At first glance, nonprofits and millennials seem like a match made in heaven. Despite often being judged by our peers, our so-called “entitled” generation puts our desire for positive change above almost all else, seeking jobs that allow us to both do …
How to Work With Your Banker Amidst Change
With more than 25 years of banking experience and an equal tenure serving the Portland, Ore., community with Catholic Charities, Impact NW and other organizations, Kathy shares this advice for how to help your banker to give your organization as much c …
A Board Member’s Guide to Nonprofit Overhead
Calculating overhead rates and managing overhead expense are important staff roles. Board members are not required to know how do staff accounting work, but we do need to bring an informed perspective to our oversight: Harvard’s indirect cost ra …
Donor-Advised Funds: Non-Transparent Tax Shelters for Good
Nonprofits are probably most familiar with donor-advised funds (DAFs) at community foundations: a donor gives, let’s say, $1 million to a community foundation and gets a $1 million tax deduction that year. Over the next several years, the donor …
High Pay for Nonprofit Execs? Analysis of 100,000 Salaries
Everybody has an opinion about whether nonprofit executives are paid too little or too much, but almost nobody has any real data outside their own experiences. At last! Economist Linda Lampkin (left) analyzed 100,000 nonprofit CEO salaries and ha …
