Raffles can be a fun and effective way for non-profit organizations to engage the public and raise funds to support the organization’s mission. However, from the perspective of the non-profit, there are legal considerations that must be kept in mind when conducting gaming activities in South Dakota. Federal Rules From…
The COVID-19 pandemic has taken its toll on everyone. That means it has impacted both your organization and your donors. Everyone is struggling. However, while we all scrambled in the beginning, it’s time to adjust to the new normal so that nonprofits can get their fundraising strategies back on track.
Nonprofit and governmental agencies are challenged with maintaining and managing travel policies and procedures. Establishing a well-defined travel policy, communicating this policy to employees, and consistently applying this policy across your organization will help to lessen the headaches associated with such transactions. According to a report by the Association of…
Fraud may occur in any organization, by anyone, and in many ways. It can have a major impact in all areas of the business. Fraud can be either misappropriation of assets or fraudulent financial reporting. Fraudulent activities occur when there is opportunity, rationalization, and pressure. Fraud in nonprofits is…
As a nonprofit, your financial records mean a lot to your board of directors and for your audits. Here are a few tips and tricks for getting the most out of QuickBooks for both. Each month, you have meetings for your board of directors, where budgets, grants, and fiscal year…
Hello Nonprofit Friends! We want you to know we are ready to help as you face the challenge of keeping employees on the payroll and operating at the level necessary to serve our community during this unprecedented time. We at KT have had a chance to digest the Families…
As malicious attacks continue to grow, it is imperative that nonprofit organizations of all sizes take the necessary steps to bolster their cybersecurity practices. Nonprofit networks host a treasure trove of sensitive and valuable information making them an attractive target for hackers. Limited budgets and small IT staffs make it…
A nonprofit board members’ review of Form 990 is not required, but the form encourages board participation and may provide several benefits to an organization. A draft of the form should be provided to board members, whether it is to everyone on the board or a select few, for review…
Nonprofit and governmental accounting can be complex. One way to simplify your accounting process is to have fewer funds and accounts. A cumbersome chart of accounts can lead to more work, from needing to group the transactions within the accounts as well as to read/understand the accompanying financial statements.
Your story is more than just your numbers! Most of us think of a tax return as a regulatory requirement, but nonprofits have a unique opportunity to tell their story through their Form 990. Surveys show that donors, grantors, and potential board members seek out online information about your organization…
