As in the for-profit world, sometimes not-for-profits need to spend money to make money. This is particularly true when it comes to fundraisers. At the same time, it’s critical that you make a budget and stick to it. Estimate expenses for such items as facility rental, food and drinks and entertainment, and then scrutinize the list for what can be reduced or cut. You might be able to find a business sponsor to help defray costs. Just be careful. Don’t promise too much in sponsor benefits, such as free advertising. It could lead to unrelated business income tax problems. Contact us for more tips.
If you’re looking for new funding sources, consider cause marketing. Made possible via a partnership with a for-profit business, cause marketing can boost your...
The IRS’s staffing shortages have been well publicized. But it’s a mistake to assume that the agency has stopped scrutinizing not-for-profits. Don’t panic if...
CPAs offer a wide menu of services. One of the lesser-known options is an agreed upon procedures (AUP) engagement. It uses procedures similar to...