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Millennials currently comprise of 80 million people who possess the most buying power of any generation and they are crucial to the future success of not-for-profits. Here are a few things to keep in mind when cultivating this increasingly influential group.

Before investing a not-for-profit’s funds, the board of directors, with management’s assistance, should strongly consider developing an investment policy and there are some basic fundamentals of a sound investment policy.

An organization may maintain its tax-exempt status even if it has unrelated business activity; however, it may be liable for tax on its unrelated business income. This tax is referred to as unrelated business income tax (“UBIT”).

There are certain activities that can jeopardize an organization’s 501(c)(3), and therefore their tax exempt status. It is important to be familiar with these topics in order to avoid risking your organization’s ability to fulfill its mission.

Governor Wolf signed two bills on December 22, 2017. Both Acts amend the Solicitation of Funds for Charitable Purposes Act to affect several important Pennsylvania Department of State Bureau of Corporations and Charitable Organizations processes.

Your not-for-profit organization should review its 403(b) plan and the number of participants annually to ensure that it is in compliance with the proper filing and auditing requirements.

The IRS has issued an alert regarding a scam from last year that targeted companies and this year is setting its sights on schools and not-for-profits. There are several things not-for-profits can do when it comes to this type of cyber fraud.

EisnerAmper partner MG and senior manager Cindy Feder recently wrote an in-depth article about the Tax Cuts and Jobs Act and its provisions that could have far-reaching impact on tax exempt organizations and charitable giving.

Succession is key to sustainability. Succession planning should start at the board level, yet only 34% of not-for-profits reported having a succession plan in place. Not having an effective succession plan could adversely impact donor funding.

Many not-for-profit organizations continue to be soft targets for fraud and are often at a disadvantage due to their limited resources. Those organizations lacking stronger controls and experienced staff could set the stage for fraud.

Adequate insurance coverage is important to protect a not-for-profit from major disruptions to its operations, yet many not-for-profit boards of directors may not be familiar with the types of insurance coverage available to their organizations.

According to the IRS, there are 7 scenarios where a private foundation would be considered engaging in self-dealing. In order to avoid an audit and potential penalties, it is imperative foundations understand what these are.

There are several tips to help Not-for-Profits mitigate fraud including developing a fraud prevention policy with procedures and guidelines, do self-audits, and use an independent auditor.

Board members of Not-for-Profits have well-established duties: Duty of Care, Duty of Loyalty, Duty of Obedience and Duty of Fiduciary. Board members who are negligent in their duties open themselves to civil or criminal penalties.

Many organizations have a difficult time finding candidates for vacant seats on their board of directors. Here are some action steps that your not-for-profit can take to find potential candidates.

When board members receive their organization’s Form 990, they can become a little overwhelmed by the substantial amount of information. Here are 5 parts of the Form 990 that readers are looking at to get to know your organization better.

A healthy operating reserve can provide stability for your not-for-profit during unexpected financial emergencies. Management and the board of directors need to add that discussion to the agenda of an upcoming board meeting.

The New York State Assembly and Senate passed bill A.10365-B/S.7913-B, amending the current Not-for-Profit Corporation Law and the Estates, Powers and Trusts Law to clarify and refine some of the changes to both laws effected as part of the 2013 New York Non-Profit Revitalization Act.

On Tuesday, October 11, 2016, EisnerAmper’s own Jimmy Mo, Partner, and Heather Taylor, Director, presented a Not-for-Profit Industry Update that focused on two recent ASUs issued by the Financial Accounting Standards Board (FASB).

This blog recaps the presentation of ASU 2016-14 Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities that was presented by Jimmy Mo at EisnerAmper Not-for-Profit Industry Update.