08.14.25

Better Not-For-Profit Fundraising: Don’t Ignore State Solicitation Laws
Jeffrey Chiles

Not-for-profit organizations shoulder a wide range of different compliance responsibilities. With so much to manage, the initial and ongoing requirements of applicable state charitable solicitation laws can sometimes fall through the cracks. Here’s what you need to know to avoid the potentially costly consequences of failing to follow applicable laws and regulations. What Do the […]

04.24.25

Highlights of the Revised Uniform Guidance
Charles J. Burke

Federal agencies were required to adopt the U.S. Office of Management and Budget’s (OMB) latest revised Uniform Guidance (UG) by October 1, 2024. It affects organizations with a fiscal year ending September 30, 2025, and later. The revisions are being welcomed by many not-for-profit organizations because the changes aim to help reduce the burden on […]

02.17.25

Navigating Financial Stability in Times of Uncertainty
James Quaid

With news of executive orders and their potential impact on federal funding, management and board members of many not-for-profit organizations are anxious and concerned about the financial stability of their organization and its ability to continue to fulfill its mission. The following are a few best practices we recommend for all organizations. Understanding Make sure […]

01.27.25

Understanding Board-Designated Net Assets
Jason Gierhahn

Sometimes donors put restrictions on their donated funds, and in other instances, not-for-profit boards place limits on certain assets. Board-designated net assets can prove critical to the survival of programs, projects — or even your organization itself. Let’s take a closer look. What they are The term “board-designated net assets” generally refers to funds that […]

12.20.24

Helpful Changes at the Illinois Attorney General’s Office
Alison Fetzer

Good news for Illinois Not-For-Profit organizations out of the Illinois Attorney General’s office: New rules effective October 29, 2024, should simplify the extension and filing process of the charitable organization annual report, Form AG990-IL.  Under the old rules, the annual report was due within six months of the organization’s fiscal year end and was eligible […]

11.20.24

What You Need to Know About New Overtime Rules
Sarah G. Widlock

The U.S. Department of Labor (DOL) released a new final rule in the spring of 2024 changing the salary threshold for determining whether employees are exempt from federal overtime pay requirements under the Fair Labor Standards Act (FLSA). Although the new rule took effect July 1, 2024, opponents have already filed litigation challenging it. Here […]

10.31.24

Is it Time to Hire a CFO?
Jeffrey Chiles

Let’s face it: Most not-for-profits are founded on a passionate belief in service. This does not always include a passion for numbers. To fill this gap in financial expertise, not-for-profits often hire chief financial officers (CFOs). However, do all not-for-profits — including small organizations — need one? CFO defined Generally, the CFO (or “director of […]

08.27.24

What You Need to Know About Crypto Donations
Caitlin G. Gibbs

Cryptocurrency’s popularity only seems to grow in certain segments of the population. Accepting crypto donations could present an opportunity for your not-for-profit organization to boost revenue while also helping you to connect with new groups of donors. Accepting crypto is not without risk, though. Pros and cons Cryptocurrency generally refers to a decentralized form of […]

07.15.24

Not-For-Profit Leaders Share AI Concerns
Barbara Miller

Artificial intelligence (AI) seems to be everywhere these days, including in not-for-profits. A recent survey by Stanford University’s Institute for Human-Centered Artificial Intelligence and Project Evident explores the current use of, interest in and opportunity for AI in the social and education sectors. The survey’s results show that AI already has a considerable presence there; […]

04.25.24

Crowdfunding Comes with Tax Risks
Sarah G. Widlock

Crowdfunding campaigns are designed to raise money for individuals or causes and have risen in popularity in recent years. Some not-for-profits have benefited from the trend, but supporters and organizers of crowdfunding campaigns may not understand the tax implications. These can differ significantly from tax rules for traditional charitable giving. If your organization is considering […]