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Helpful Tips
Here is a monthly update of web sites of important news stories, upcoming events or technical pronouncements that impact the not-for-profit sector.
We have also included links to other professionals who share our commitment to the not-for-profit sector.
Property Tax Exemptions
Many states and local governments are requiring voluntary or mandatory payments in lieu of taxes, services in lieu of taxes, revoking property tax exemptions, refusing to grant property tax exemptions, placing limits on the amount of property that can be exempt; and restricting the definition of what property qualifies for exemption. Consult with you accountant and legal advisors.
Charitable Solicitation Registration and Reporting
Currently, over 40 states regulate charitable solicitations. Approximately 36 of those states will accept the Unified Registration Statement (URS). Visit http://www.nonprofits.org/library/gov/urs/ for an example.
Internet Solicitations
If a charity has a website that solicits funds, does the charity need to register in every state where the website is accessed? There is no clear answer. Proceed carefully and consult your legal and tax advisors.
Inconsistency and Duplication of Reporting to Funders
There is no consistency between government agencies in the financial reporting required of charitable organizations. Many nonprofits invest considerable resources to rework ledger information to satisfy the requirements of each funder. Many software packages if designed properly support grant reporting. Consult with your accountant about available options.
Court Cases that Impact Not-for-Profit Organizations
Ryan v Telemarketer Associates
This case decided by the US Supreme Court concerns the extent to which the First Amendment limits the government's authority to curtail fraudulent solicitations of charitable contributions. The United States has a substantial interest in that issue. The United States prosecutes fraudulent charitable solicitation under its criminal antifraud statutes. See, e.g., 18 U.S.C. 1341 (mail fraud); 18 U.S.C. 1343 (wire fraud). Consult with your legal advisor regarding the implications of this land mark case and stay abreast of other potential issues.
Legislative Initiatives that Impact Nor-for-profits
New Jersey
Requirements through statutory and regulatory changes need to be monitored for specific implications.
Federal Rules and Regulations that Directly Impact Not-for-Profit Organizations
OMB Circulars A-110, A-122 and A-133.
Visit www.whitehouse.gov/omb/circulars
Faith Based Initiatives
Faith based organizations are eligible to participate in federally administered social service programs with limitations regarding “proselytizing”, non discrimination and other areas. Look for opportunity areas but with certain restrictions.
See www.hhs.gov/fbci/funding.html for an overview of the grant process.
Capacity Building, Development
Expand your revenue base. Visit Ruotolo and Associates at www.ruotoloassoc.com
Federal Grant Opportunities
The online Catalog of Federal Domestic Assistance gives you access to a database of all Federal programs available to State and local governments (including the District of Columbia); federally -recognized Indian tribal governments; Territories (and possessions) of the United States; domestic public, quasi-public, and private profit and nonprofit organizations and institutions; specialized groups; and individuals. After you find the program you want, contact the office that administers the program and find out how to apply. Visit www.cfda.gov
Past N&N speaking engagements
During 2010 Mr. Noble acted as a National Discussion Leader for the AICPA on various technical audit and accounting areas that affected non profits. Mr. Noble also participated on and provided technical input to the NJSCPA Nonprofit Interest Group.
Future N&N speaking engagements and publications
A National Discussion Leader schedule is being prepared for 2011. We will update when this information is available.
White paper on accounting and audit issues for nonprofit accountants and Treasurers is scheduled for release in the fall 2010. Please see the attached.
Do you have a helpful tip to share?
Contact Noble & Noble, LLP at enoble@noblellp.com
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