Risk Management: 8 Ways to Reduce Business Insurance Costs
How much money is your business spending on insurance products? Insurance is often a major business expense, and it can be a lifesaver when the unexpected happens. However, higher spending doesn’t necessarily equate to better coverage. Rather than focusing on just the price, it’s important to match insurance products and coverage levels with your business’s…
How ERM Helps Organizations Navigate Their ESG Journey
ESG (Environmental, Social, and Governance) frameworks provide a sustainable approach to doing business. Existing ERM tools can help support these efforts.
Federal Gift and Estate Tax Breaks due to Inflation
Inflation is generally bad news, however; it does bring tax breaks in the form of bigger annual inflation adjustments. In fact, many federal tax parameters for the 2023 tax year are up about 7% over the amounts for 2022. Here are the details — plus inflation-adjusted estimates for the 2024 tax year to tide you…
Considering Blackbaud? 9 reasons why Sage Intacct is a better choice
Prepare to be amazed as you explore the compelling advantages of Sage Intacct over Blackbaud. From groundbreaking features to unparalleled scalability, this game-changing resource will revolutionize your organization’s financial management. Are you ready to embrace the future of success? Delve deeper into the details and view more by clicking the link below. View Now
2023 Nonprofit Technology Trends Report
Discover the 2023 annual Nonprofit Technology Trends Research Report, offering valuable insights into the evolving nonprofit sector. With reflections from over 600 nonprofit finance leaders, this report highlights key trends and challenges faced by organizations. Explore technology engagement, financial strategies, and industry shifts, gaining valuable perspectives on the road ahead. As the world adjusts to…
Ins and Outs of Private Foundations
The term “501(c)(3) organization” — which refers to the Internal Revenue Code section governing not-for-profit entities — often is used interchangeably with “public charity.” But not all 501(c)(3) organizations are public charities. Some are private foundations, and they’re subject to different tax rules. Individual and Family Charity A private foundation is a 501(c)(3) organization created…
Consider Possible Accounting Implications Before Creating a Joint Venture
By Susanna Chon, Senior Manager In the government contracting world, it is very common for two or more companies to create a joint venture for the purpose of bidding on federal government contracts. What many business owners may not consider are the accounting implications that entering into a joint venture agreement may bring. Typically, the…
Aligning Business Continuity Planning with Third Party Risk Management
Does your organization know all the third-party vendors who access and manage data on your behalf? In the event of a disaster, any gaps in responsibilities, security, and communications prolong the outage of business operations, so it’s better to identify and eliminate these gaps now before a disaster happens.
How to Get Started with Estate Planning
How to Get Started with Estate Planning Estate planning isn’t just for the rich and famous. You may have family heirlooms (such as jewelry or artwork) or real property that has sentimental value to certain family members. Wills and trusts can help ensure that your estate is divided up in the way you intended. Here…
How Long Should You Retain Tax Returns?
Three years is the general rule to retain tax records, including the paper and electronic records that support your tax return like receipts, bank and investment account statements, K-1s, W-2s, and 1099s. But don’t be hasty: failure to keep a paper trail for the information provided on your returns could lead to problems if you’re…