The AICPA Auditing Standards Board (ASB) issued Statement on Auditing Standards (SAS) No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement.
Whether or not this is the first time you are doing an auction or the auction is a regular event for your 501(c)(3) organization, this article will provide a variety of pointers which apply to live
Special events, in this context, are synonymous with fundraising events such as galas (most typical), luncheons, golf tournaments, shows and auctions. They are unrelated to the exempt purpose
Indemnification is the organization’s direct expression of willingness to protect its board members (and its senior staff) from the financial burdens of liability.
Incorporating your nonprofit organization establishes it as a legal entity designed primarily to provide limited personal liability protection for those overseeing the organization.
