In this issue…

  • IRS Allows Schools to Publicize Nondiscrimination Policies Online: The IRS requires that in order to receive tax-exempt status, private schools must certify annually that they do not discriminate on the basis of race. For private schools filing form 990, this has historically been done on Schedule E, and for schools not filing form 990, this has historically been done on IRS Form 5578.
  • Boards and Evaluating Financial Health: One of a nonprofit’s board of directors responsibilities is to oversee and monitor the organization’s  financial health. While certain factors may be obvious in evaluating financial health such as the loss of major funders and the success of a fundraising event, there are other factors that are less obvious.
  • Joining the WSCPA NFP Committee: Have you ever wanted to connect with others in the NFP community, but weren’t sure where to go? Have you attended the NFP Conference in the fall that is put on by the WSCPA and wanted to get more involved, but weren’t sure how to do that? Are you looking for some great CPE put on by local CPAs and their resources? If you’ve ever had these questions, you are not alone!
  • Foundations, Endowments, and the Global Economy: Central to many endowments and foundations’ operations and organizational health are their investment portfolios and the global economy. Endowments and foundations have reaped the benefits of the global economic growth experienced in recent years, however some are starting to question how much longer the growth will last, and what steps, if any, need to be taken to protect their portfolios.
  • Foundation Center and GuideStar Join Forces: The Foundation Center, which maintains the most comprehensive database on foundations and their grantmaking, is teaming up with GuideStar, an online database of about 2.7 million nonprofits, to create a new nonprofit organization known as Candid, which will offer access to a significant database and more than 140,000 grantmaking organizations.

Read more here: Special Summer Edition | Profitable Solutions for Nonprofits – July 2019

TAGGED: Nonprofit
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