As described in our previous articles, 14 different compliance requirements could have a direct and material effect on federal grants received by governmental or nonprofit organizations. One of the 14 compliance requirements includes 3 separate and unique requirements: matching, level of effort, and earmarking.  These may require that recipients…
Individuals typically provide donations in the form of monetary or donated property. These contributions benefit the charitable organization and also provide a tax deduction to the donor. In order for this tax deduction to be allowed, the IRS has specific requirements for the charitable organization to follow. Do you…
FORM 1099 REQUIREMENTS: When Do You Need to File Form 1099? The following are the most common situations requiring filing of Form 1099: You paid more than $600 for services, rents, director fees, prizes, or awards to nonemployees You paid more than $10 in royalties You paid dividends…
As described in Part I through V of our previous articles, 14 different compliance requirements could have a direct and material effect on federal grants received by governmental or nonprofit organizations. Organizations that utilize Federal programs to purchase capital assets must comply with two requirements, Equipment and…
As a not for profit entity, you may be wondering how the Affordable Care Act (ACA) affects you and what you do. All aspects of the act still apply to you. What are some of the key provisions you need to know and understand? Following is a…
