/Tag: advice for your nonprofit

Receive an IRS audit letter? Here’s what you need to do.

By |2017-05-24T13:42:03+00:00February 15th, 2017|Categories: Non-profits|Tags: , , , , |

In recent years, the IRS has increased its scrutiny — including actual audits — of not-for-profits. Do you know what to do if your organization receives an audit letter? What is an audit? An audit begins with the initial contact from the IRS and continues until a closing letter is issued. Before closing an audit, [...]

Defining a not-for-profit’s operating reserve

By |2017-05-24T13:42:04+00:00October 14th, 2016|Categories: Non-profits|Tags: , , , |

What is an operating reserve? And how much is too little — or too much? Let’s take a look. What it is An operating reserve is a portion of an organization’s net assets that’s unrestricted and relatively liquid. But it shouldn’t be defined so narrowly that it only includes cash or cash equivalents. (That would [...]

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