March 2017

Form 926 Filing Requirements – a Potential Trap for the Unwary Tax-Exempt Organization

By | March 31, 2017|Categories: Nonprofit, Taxing Thoughts|Tags: , , , |

By: Sunil Patel (Tax Supervising Senior) and Jason Booth (Tax Principal) Many tax-exempt organizations invest frequently in foreign alternative investments (e.g., hedge, private equity, real estate and venture capital funds). When investing into such funds, these tax-exempt organizations’ primary tax concern is generally to mitigate their risk of Unrelated Business Taxable Income (“UBTI”). Funds commonly [...]

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Travel Ban Impact on Nonprofits

By | March 21, 2017|Categories: Nonprofit|

There are several nonprofit organizations in the United States with missions aimed at assisting refugees. These nonprofits provide direct assistance, such as food and clothing, to individuals who are currently living in a foreign country, or help refugees that have recently arrived in the U.S. find housing and settle in the country. On February 2, [...]

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Private Foundations and Self – Dealing

By | March 13, 2017|Categories: Nonprofit|Tags: , |

Private foundations enjoy the benefit of being tax exempt but often face more restrictions and scrutiny than public charities.  Green Hasson Janks Principal Lauren Haverlock takes an in-depth look at one of the most rigid restrictions for private foundations – self dealing. Click here to download our latest resource.    

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February 2017

The Benefits of Program-Related Investments

By | February 14, 2017|Categories: Nonprofit|Tags: , , |

In our previous blog, No Strings Attached, we discussed the importance of unrestricted general operating support from grant makers.  However, general operating support may not be the best – or only way – to assist every grantee organization. Instead of, or in addition to a grant, program-related investment (PRI) sometimes makes sense. If you haven’t [...]

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Case Study: Application of the New Minimum Wage Phase-In Requirements

By | February 10, 2017|Categories: Nonprofit|Tags: , , |

There have been numerous discussions about the economic pros and cons of a phased-in $15 wage floor but not that many around the practical application, so I thought I’d share a recent situation I encountered. Background: On January 1, 2017, the minimum wage in California increased to $10.50 per hour for employers with 26 employees [...]

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November 2016

Due Diligence During a Merger

By | November 15, 2016|Categories: Nonprofit, Taxing Thoughts|Tags: , |

By Lizbeth Nevarez (Senior Manager, Green Hasson Janks) It is a rare feat when two nonprofit organizations are able to come together and join resources to increase the collective impact they have in the community. It is just as rare to have enough donor contributions that allow them to do so. The amount of time, [...]

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August 2016

Lease Accounting Standards

By | August 25, 2016|Categories: CPA Food Bites, Nonprofit|Tags: , |

By Matt McWhirter (Senior Associate, Green Hasson Janks) After many years of waiting, the FASB has finally released ASC 842, bringing major changes to the world of accounting for leases.  One of the main goals of the new lease accounting standards is to bridge the gap between GAAP and IFRS accounting for leases.  While the [...]

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FASB Issues New Guidance on Not-for-Profit Financial Reporting

By | August 19, 2016|Categories: Nonprofit|

By: Margaret Karren (Partner, Green Hasson Janks) The Financial Accounting Standards Board (FASB) released an Accounting Standards Update (ASU) with the goal of simplifying and improving the not-for-profit reporting of net asset classifications, liquidity information, financial performance and cash flows. Net Asset Classes: Revised net asset classifications to two classes, net assets with donor restrictions and [...]

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Nonprofit Compensation

By | August 18, 2016|Categories: Nonprofit, Taxing Thoughts|Tags: , , , , , , , |

By: Blair Howard (Intern, Green Hasson Janks) and Lauren Haverlock (Principal, Green Hasson Janks) Managing executive compensation for the highest paid executives in any company can be difficult, but it becomes much more complex when discussing tax-exempt organizations. Not only must a nonprofit consider the effects of salary levels on the operating budget, the organization [...]

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June 2016