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Charity Raffles – Tread Carefully

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…

October 5, 2023

Travel Reimbursement Policies for Nonprofit and Governmental Agencies

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…

September 3, 2020

Fraud in Non Profit Organizations

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…

June 5, 2020

COVID-19 Updates for NonProfits

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…

March 30, 2020

Safeguarding your Nonprofit’s Network

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…

March 4, 2020

Board Members Responsibilities for Form 990

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…

March 4, 2020

Chart of Accounts: Less is More

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.

March 4, 2020