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Christine Thomas

IRS Outlines Exempt Organization’s 2016 Priorities

The IRS Tax Exempt and Governmental Entities Division recently issued their 2016 priorities. Exempt Organizations (EO’s) overarching compliance strategy is to ensure organizations enjoying tax-exempt status comply with the requirements for exemption and adhere to all applicable federal tax laws. The focus in 2016 will be on significant compliance issues, not on the number of…

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Steep Penalties for Excess Benefit Transactions

In recent years, the IRS has increased its audits of not-for-profit organizations. One of the hot-button topics is asset protection, which includes monitoring private inurement and private benefit transactions by persons who control not-for-profit organizations or who are related in some manner. A nonprofit that is found to have violated the private inurement or private…

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Learn How Impending New Regulatory Reforms Will Affect Your Entity

On December 26, 2013, the Office of Management and Budget (OMB) issued its final grant reform rules to the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, effective for fiscal years beginning after December 26, 2014.  The reform streamlines the language from eight existing OMB Circulars into one consolidated set of guidance…

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Ensure the Viability of Your Nonprofit Through Better Donor Retention

Given the current economic conditions, including an overall decrease in government funding, donor acquisition and retention strategies are more essential than ever for managing a nonprofit organization.  Over the last 10 years, donor retention has dropped significantly, which poses the question, “What are you doing to ensure the long-term viability of your organization?” One of…

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