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What’s Your End-of-Year Strategy for Planned Gifts of Assets?

Blackbaud

He was a donor to one of our charity clients and we had talked about the possibility of gifting assets to reduce or eliminate tax liability. He was facing a significant tax liability if he didn’t get this completed before the calendar rolled into January. Bunching offers donors the possibility of minimizing tax liability.

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The Four Core Statements of Nonprofit Financial Reporting

Blackbaud

In this blog, we’ll explore the four core financial statements every nonprofit needs: the Statement of Activities, Statement of Financial Position, Statement of Cash Flows, and Statement of Functional Expenses. Net Assets: Net assets represent the difference between total assets and liabilities.

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Primary School Fundraising Ideas for Every Season | Big Fundraising Ideas

Big Fundraising Ideas

Primary School Fundraising Ideas: A Seasonal and Year-Round Guide Blog Summary: Looking for fun ways to raise money for your primary school throughout the year? Always check local regulations and consider liability insurance if hosting more significant events. What if my school community is small or has limited resources?

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10 Tips for Managing Crisis Volunteers in Natural Disasters

Blackbaud

Keep appropriate waivers and liability forms ready for volunteers to sign. The post 10 Tips for Managing Crisis Volunteers in Natural Disasters first appeared on The ENGAGE Blog. Develop a screening procedure in “normal” times to make crisis screening easier.

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Nonprofit vs. not-for-profit: Definitions and differences

Bonterra

This separation offers protection in the form of limited liability, meaning the personal assets of individuals associated with the nonprofit are generally protected from the organization’s debts or liabilities.

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4 Nonprofit Financial Statements and How to Create Them

Blackbaud

Gather Financial Data Collect all your nonprofit’s essential financial information, including: Income Expenses Assets Liabilities Details on restrictions This data should ideally already be stored and readily available in your accounting software. Your bookkeeping practices throughout the fiscal year matter.

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The downsides of starting a nonprofit organization

Candid

Nonprofits are required by the IRS to keep detailed records, and there is a lot more paperwork for nonprofits than for other organizations, such as Limited Liability Corporations (LLCs). To learn more about such filings and paperwork, read our blog 4 essentials of e-filing your nonprofit’s Form 990. Shared control.