In a recent blog post from the AICPA, Christopher Cole, CPA, CFF, and CGMA, discusses the importance of non profit organizations to understand their finances to run an effective organization. Many non profits are run by volunteers of whom many do not fully grasp the complicated rules governing their organizations. Cole offers three important points that can be transferable to many different nonprofit organizations:
- Understand the implications of hiring a professional fundraiser
- Be aware of “unrelated business expenses”
- Reporting on grants is more complicated than you might realize
At Brickley DeLong, we aim to help understand each unique non profit organization and their specific tax implications. We would be pleased with the opportunity to discuss your non profit and how these (or other) items relate to your organization.
Brickley DeLong is a West Michigan Accounting Firm, offering personalized accounting services with offices in Muskegon, Hart, and Grand Rapids, Michigan.