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NJ Accounting, Tax & Business Consulting Articles

26 Jul

Are Board Members Hitting the Ground Running?

Tips For a Sound Orientation Process Nonprofit boards hold positions of significant trust and responsibility. But to successfully execute their governance role, they must be adequately prepared. A sound orientation process is essential to developing committed, k knowledgeable and effective board members. Following are some steps you can take during the orientation process to ensure […]

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25 Jul

Today’s Financial Challenges for Nonprofits

Finance and accounting for a nonprofit organization can be one of the more intricate and complex processes for even the most experienced accountants and CPAs. Dealing with government grants, contributions, service revenue, and/or fundraising events can cause headaches for those trusted with reporting these revenues. Recently, Dan Murphy (not the power-hitting second baseman for the […]

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17 Jul

The Lure of the For-Profit Subsidiary

For-profits subsidiaries of nonprofit organizations are strikingly diverse. Consider these real-life examples: In one part of the country, a nonprofit health maintenance organization (HMO) creates a for-profit subsidiary to offer health insurance unavailable through HMOs. Elsewhere, a university business school starts a venture capital company to fund worthy startups and give students a first-hand look […]

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13 Jul

Does Your Not-for-Profit Earn Unrelated Income?

– Profitable activities may trigger unrelated business income tax. Tax-exempt organizations must be operated primarily for their stated exempt purpose, but the IRS allows them to carry on certain unrelated business activities without jeopardizing their exempt status. If these ventures are not related to a nonprofit’s core mission, however, the organization may have to pay […]

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