Not-For-Profit Newsletter May 2016

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SKR+Co Not-For-Profit Newsletter

May 2016

 

Protecting your tax exempt status during election season

Nonprofits need to exercise caution not to stray into political activities that could put their tax-exempt status on the line.

This article describes permitted and prohibited political activities for 501(c)(3) organizations. A sidebar discusses lobbying limitations for 501(c)(3)s.

Read the Full Article Here.

 

 

Indirect Costs: Get informed on the OMB rules

Nonprofits need to get up to speed on their rights and responsibilities under the Office of Management and Budget’s new rule requiring agencies and other entities allocating federal dollars to reimburse organizations for indirect costs (also known as administrative or overhead costs). If they don’t learn the ins and outs of the new rule, they risk forfeiting reimbursement dollars. This article explains how reimbursement is determined and what nonprofits should be doing now as a result of the change.

Read the Full Article Here.

 

Cybercrime: Get ready to fight back


Cyber thieves don’t physically grab keys or force an entry into a home, but the damage they do to an organization can be just as consequential. If a nonprofit becomes the victim of cybercrime, it could suffer a blow to its reputation that’s impossible to overcome. So it’s important that a nonprofit assess its risks of data breaches carefully, and implement effective security policies and procedures. This article discusses some key considerations.

Read the Full Article Here.

 

Serving
Not-For-Profits

 

Steve Hochstetter, CPA, ABV, CFF,CVA
Audit Partner




Ellen Fisher, CPA


Audit Partner




Jamie Meidinger, CPA
Senior Audit Manager


Doreen Merz, CPA
Tax Manager

 

 

For more information on our Not-for-Profit services, please see our website HERE.

 

 

 


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SKR+CO Expert
Steve Hochstetter, CPA/ABV®, CFF™, CVA, Audit Partner
Steve has been in public accounting since 1983, with significant experience serving nonprofit organizations, healthcare organizations, governmental entities, and small to mid-size businesses.