Nonprofit Accounting Basics

Recent Articles

Definition of Key Employee

The definition of a key employee includes a three part test. To be a current key employee all three tests must be met:

The $150,000 Test

Who is Reviewing Your Key Contracts?

Ensuring that the appropriate individuals are reviewing key contracts is essential to identifying, quantifying, and, if necessary, reporting financial liabilities in a timely manner.

Don’t Fall for a Social Engineering Scam

Even the most sophisticated organization can be the target of an online attack scheme known as spear phishing.

When Does Your Activity Become Lobbying?

What Your Nonprofit Needs to Know

Form 990 N e-postcard Must Use New IRS.gov Portal

Form 990-N, Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or Form 990EZ, is used by smaller, tax-exempt organizations for annual reporting and c

Disqualified Persons and the Intermediate Sanctions Excise Tax Regime

Disqualified Persons and the Intermediate Sanctions Excise Tax Regime[1]

How Can I Explain the Bottom-Line Budget Impact of Multi-Year Grants?

Question: I am the Executive Director of a nonprofit organization that was recently awarded a 3-year grant. We recorded the grant in full last year.

Form 990 (Core Form)

The Form 990, Return of Organization Exempt from Income Tax, contains a twelve page “core” form with the following twelve parts:

Best Practices

The Internal Revenue Service believes that promoting best practices in the areas of governance, management and disclosure will lead to a higher level of federal tax law compliance.

Definition of an Officer

An officer is a person elected or appointed to manage an organization’s daily operations, such as a president, vice president, secretary, or treasurer.