How Unrelated Business Income Tax (UBIT) Works for Not-for-Profits

Unrelated Business Income for Tax-Exempt Organizations

Question: Our tax-exempt organization has begun a program that we believe will generate income to offset costs of our operations; however, it is not directly related to our mission. Are we subject to tax on these activities? Answer: Likely yes. Income from activities not substantially related to your tax-exempt organization’s mission are generally subject to […]

Federal Audit Clearinghouse Provider Changing from Census to GSA

Are you an organization receiving federal funds over $750,000 during the year? Then in the past you have probably had an audit performed under Uniform Guidance and completed a submission regarding your federal awards to the Federal Audit Clearinghouse. On October 1, 2022, the Federal Audit Clearinghouse provider will change from Census to the General […]

For nonprofits, quid pro quo isn’t a simple exchange

Quid pro quo donations occur when a not-for-profit receives a payment that includes a contribution and the organization provides the donor with goods or services valued at less than the contributor’s payment. Among other things, these arrangements create reporting obligations for your nonprofit. And if you don’t meet these obligations, the IRS could assess financial […]

Unique Entity Identifier (UEI) Has Replaced the DUNS Number

Person's hand on laptop keyboard

As CSH works with our clients who had $750,000 or more in federal expenditures this year, we wanted to them know that filing the data collection form might need more information this year. CSH’s Amr Elaskary explains why below and what you need to do. What happened? The federal government is transitioning from using the […]

Nonprofits: Tips for getting the grant

There are thousands of grants and millions of dollars available to nonprofits from the federal government, states, foundations and other sources. Unfortunately, you can’t just ask nicely and expect to receive them. Qualifying for the funding your organization needs generally requires you to submit thorough, professional and compelling grant proposals. Here are a few tips. […]

Understanding the Lease Standard Update and the Impact on Not-for-Profits

Unrelated Business Income for Tax-Exempt Organizations

Please note: CPE is only available for live webinars. CPE is not available for webinars on-demand. We hope you can join us virtually as we discuss the current effective lease standard and how it impacts your not-for-profit. The standard requires all leases with lease terms over 12 months to be capitalized as a right-of-use asset […]

Support your nonprofit’s financial plans with board designations

The pandemic, ongoing economic insecurity and uncertainty about the future have prompted some not-for-profits to make board designations of unrestricted assets. What are board designations, why are they worth considering and how does the process work? Self-imposed limits “Board-designated assets” refers to funds that haven’t been restricted by donors but are subject to self-imposed limits […]

NFP Experts Discuss: How Should Our Nonprofit Handle Cryptocurrency Donations?

We get a lot of questions from our not-for-profit (NFP) clients, and we thought it would be valuable to publish our answers. The focus of this edition is cryptocurrency donations. Reach out to us if you would like to see a question in a future newsletter. Question: Can my not-for-profit accept cryptocurrency donations? Yes, if […]

Time to Increase Your Internal Audit Awareness

Minimizing year-end financial adjustments

May is Internal Audit Awareness Month. While your business may not be required to undergo regular audits, you should consider the benefits of conducting one. An internal audit can reassure stakeholders that you take seriously your fiduciary responsibility. Audits can also help you identify risks before they become intractable problems. Here’s how to initiate and […]

Webinar: Giving USA, the Official Report on Trends in Philanthropy

Please note: CPE was only available for the live version of this webinar. CPE is not available for webinars on demand. With all the turmoil in the world, one thing hasn’t changed: not-for-profits need their donors’ support. Having a winning game plan for retaining current donors and recruiting new ones can make all the difference. […]