Pro Bono Partnership of Atlanta

Finances

Navigating the ERC: A Guide to Eligibility, Application, and Scam Prevention

Have you been getting offers to help your nonprofit apply for an employee retention credit? Or have you heard about other organizations bringing in thousands of dollars in tax credits under this program? During this episode of the PBPA Podcast, William Stone and Barclay Taylor with Morris Manning and Martin will help us break down eligibility requirements and the application process for the employee retention credit. They’ll also address the unfortunate reality of scams surrounding this government program.

NOTE:  On September 14, 2023, the IRS issued a moratorium on the processing of ERC applications. The moratorium will continue until at least the end of 2023.  When the IRS begins to review applications again, it will be based on the order applications were received. Find more information about the moratorium HERE.

Episode Transcript

Best Practices in Financial Management for Nonprofits

Nonprofits need to have good financial policies and procedures in place in order to satisfy funders, comply with IRS requirements, and avoid misuse of funds or even embezzlement. During this webcast, our speakers discuss best practices for:

  • Financial recordkeeping and reporting
  • Budgeting
  • Internal controls

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Legal Issues for New Nonprofits Webinar 7: Board’s Responsibility for Financial Oversight

This is part seven of an eight part webinar series that provides general legal information about operating a 501(c)(3) tax-exempt, nonprofit corporation. This webinar details the financial responsibilities of the Board of Directors, including approving budgets, reviewing financial statements, and setting internal controls.

Presenter: Denise Devenny, CPA, Vice President of Operations with the Bipartisan Policy Center

Click here to view webinar.

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Webinar 7: Board’s Responsibility for Financial Oversight

Webcast: Avoiding Payroll Pitfalls: What Every Nonprofit Needs to Know about Payroll Taxes

Payroll tax mistakes can result in IRS audits and costly penalties for your nonprofit. The IRS is paying more and more attention to payroll tax compliance by employers, including nonprofits. To make matters worse, nonprofit managers and directors can be held personally liable for unpaid payroll taxes and penalties. Learn the basics of payroll taxes and how you can avoid costly mistakes in this webcast.

Presenter: Rachel Spears, Pro Bono Partnership of Atlanta

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Fiduciary Duty of Board of Directors to Oversee Financial Affairs

Since Enron, the board of directors has been required to take on a greater role in overseeing the financial affairs of a nonprofit organization. All of your board members should read this!

Please note that in addition to the legal disclaimer above, this article contains information that is based, in whole or in part, on the laws of the District of Columbia. As a result, the information may not be appropriate for organizations operating outside the District of Columbia.

Article: Directors Duty to Oversee Financial Affairs

Compensating Insiders – How to Avoid Excess Benefit Transactions and Comply with IRS Rules

The IRS prohibits every 501(c)(3) nonprofit from paying its officers, directors and other insiders too much for any goods or services they provide to the organization. Nonprofits that do not follow these rules, and any officer or director who approved an excess payment, may be subject to taxes, fines and other penalties. This article will help your nonprofit determine whether a payment is within acceptable practices or whether it would result in an excess payment.

Please note that in addition to the legal disclaimer above, this article contains information that is based, in whole or in part, on the laws of the District of Columbia. As a result, the information may not be appropriate for organizations operating outside the District of Columbia.

Article: Excess Benefit Transactions

Webcast: Good Financial Policies for Nonprofits 102

As our Financial Policies 101:  Best Practice for Financial Management for Nonprofits webcast demonstrates, nonprofits need to have good financial policies and procedures in place in order to satisfy funders, comply with IRS requirements, and avoid misuse of funds or even embezzlement.

During this one hour webcast, our presenters discuss best practices for:

  • Budgeting and financial reports,
  • Checks and balances for financial activities, and
  • Financial policies and procedures.

Financial Management for Nonprofits

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