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Thieves Steal Nearly $2 Million of Church Funds Using Fraudulent Emails

By Michael Batts
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Michael Batts, Jr.; Mike Lee; Mike Batts      A Catholic Diocese in Ohio was a recent victim of a major fraud perpetrated through the use of fake emails. According to news reports, fraudsters used emails that appeared to originate from church workers’ email accounts to convince other church workers to change the bank account routing information for the church’s construction company. The church was in the midst of a large construction project. As a result of changing the bank account information, wire transfers in the reported amount of $1.75 million intended for the construction company were never received by the construction company. Rather, the funds ...
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Nonprofit Tax Day

By Glen Strack
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The following is a May 6th article from the National Council of Nonprofits .  It raises tax impact questions that need to be asked.     The phrase “nonprofit tax day” may sound like an oxymoron or punchline of a joke, but it’s real. Tax-exempt organizations must pay significant new taxes to the U.S. Treasury (and to some states) by May 15 if they operate on a calendar-year basis. Many tax-exempts will be paying taxes for the very first time this year because of provisions in the 2017 federal tax law . That law imposes tax liabilities on charities, houses of worship, and other nonprofits to generate new revenue and offset tax cuts for for-profit ...
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AcctTwo NFP Newsletter

By Glen Strack
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REFER A COLLEAGUE AND LOWER YOUR SAGE INTACCT SUBSCRIPTION Do you love AcctTwo and Sage Intacct? Take advantage of our  5%  10%  referral reward through June 30, 2019 and save on your Sage Intacct subscription! There are three ways it can work,  click here to learn more >    Sage Intacct Marketplace Partner Spotlight Nexonia is a leading provider of web and mobile expense, travel, time, and other business financial management solutions. Nexonia’s simple-to-use applications are fully integrated with Sage Intacct, credit cards, and other systems ...
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  User Created Newsletter

Boost Your Fundraising by Centering Your Audience in Your Content and Engagement Strategy

By Brenda Jacinto
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Boost Your Fundraising by Centering Your Audience in Your Content and Engagement Strategy (Courtesy of grantspace) By Brad (Schenck) Caldana Posted on May 2, 2019 At the center of every major advertising campaign you’ve seen or have been impacted by over the last half-century has been audience archetypes or personas. An audience archetype strategy is ubiquitous across the business marketing and tech worlds, but almost nonexistent in nonprofit messaging and marketing strategy. Your target audience should be at the center of your content and engagement strategy, and creating audience archetypes is how you get there. I’ve often heard people ...
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Nonprofit Snapshot

By Glen Strack
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Courtesy National Council of Nonprofits  Most nonprofits have a budget under $1 Million Nonprofits employ 11.4 million $880+ billion to the ecomomy Link to the original pos
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2019 Federal Reporting Requirements for Churches

By Joseph Plagge
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The most important federal reporting obligation for most churches is the withholding and reporting of employee income taxes and Social Security taxes.  The attached document provides a step-by-step guide for maximizing tax benefits for ministers, complying with federal tax reporting obligations, and other important requirements for churches.   This document was published by GuideStone and authored by Richard R. Hammar, J.D., LL.M., CPA (Senior Editor,  Church Law & Tax Report ) You can download this document here: 2019_Federal_Reporting_Requirements_for_Churches.pdf #Reporting #FASB-standards #Ta
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  User Created Tax Reporting

Disaster resources can help you weather the storm

By Sandy McClure
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Are you prepared if disaster hits your NFP?  What if you are assisting people hit by a disaster?  Read below for answers:    As summer approaches, so do storms and other natural disasters. Whether it’s a hurricane, fire, flood or tornado, it’s important for people to be prepared. One way to get ready is for taxpayers to know what to do about important documents and paperwork that might be lost after a disaster.   Also, it’s good to know how to find out if the IRS is providing filing extensions or other tax relief due to the impact of a federally-declared disaster. Below are links that taxpayers can use to find IRS tax related disaster relief:  Reconstructing ...
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Charitable Organizations - Substantiation and Disclosure Requirements

By Peter Wagner
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The IRS has specific requirements for donors and related requirements for charitable organizations.  Lets take a refresher walk through: Contributions Charity Auctions Non cash Contributions Quid Pro Quo Contributions Vehicle Contributions From the IRS website:     The Internal Revenue Code applies substantiation requirements for donors, and disclosure requirements for charitable organizations, in connection with charitable contributions. For a detailed discussion of the substantiation and disclosure requirements for charitable contributions, see: Publication 1771 , Charitable Contributions: Substantiation and Disclosure Requirements ...
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  User Created Donations IRS

IRS Announces New Way Private Schools Can Publicize Their Racial Nondiscrimination Policies

By Michael Batts
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May 8, 2019 The IRS has announced that effective May 28, 2019, a private school exempt from federal income tax and described in Section 501(c)(3) of the Internal Revenue Code may meet the requirement for publicizing its racial nondiscrimination policy by posting an appropriate notice on its website home page. In order to qualify for and retain tax-exempt status as a 501(c)(3) organization, a nonprofit private school (including a school operated or controlled by a church) must have a racial nondiscrimination policy in place, the policy must be properly publicized, and the school must operate in a racially nondiscriminatory manner.  Additionally, the school ...
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Fundraising Lessons

By Merilee Howell
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Courtesy of Guidestar     Far reach from rockstar superstardom to fundraising glory? Not really!  Watching Bohemian Rhapsody, I couldn’t help but notice a few standout truths and values from their rise to fame. They apply as much to hardworking fundraisers, dedicated to making the world a better place, as to anyone else reaching for success. Lesson #1: Think big and bold “You're just not thinking big enough, darling. ” In one scene in the film, this is Freddie Mercury’s reply to his bandmates’ moaning about a packed concert schedule with meager returns. Traveling around the UK performing, their van has broken down en route to a gig. But Freddie ...
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This Top Exec Says You Should Have More Conflict at Work.

By Brenda Jacinto
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Is conflict in the workplace a good thing?  Can conflict be good for your organization?  Inc takes an in depth look at conflict in the workplace.  Courtesy Inc   In the workplace , it is a common notion that conflict is to be avoided. However, when done in a constructive manner, challenging co-workers' ideas can lead to immense innovation and growth for an organization.   Tony Libardi, president and chief operating officer of Marco's Franchising, which operates the international pizza chain  Marco's Pizza , recognizes that each member of the corporation plays a pivotal role in the company's overarching success . What this means ...
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Taking care of business: How long should I keep records?

By Peter Wagner
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Courtesy of IRS:     How long should I keep records? The length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return until the period of limitations for that tax return runs out. The period of limitations is the period of time in which you can amend your tax return to claim a credit or refund, or the IRS can assess additional tax. The information below reflects the periods of limitations that apply to income tax returns. Unless otherwise stated, the years refer to the period after ...
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Shelby v5 - Acquire/View

By Vicki Richardson
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Shelby v5 Tip - Acquire/View Let’s talk about the feature Acquire/View in Shelby v5. This feature allows documentation to be attached to transactions. This is a great way to view and print source documents for internal use as well as outside audits. On the transaction entry screen in all modules, you will see Acquire/View in the bottom left hand side of the screen. Click that button and you will have several options: Paste from clipboard Enter a URL Scan document In order to use the scan document feature you must have a scanner directly attached to your computer. Once you have done one of these options you click save and the document is saved ...
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  Software tips shelbytips

Three Tips to Help You File a More Complete Form 990-Series Return

By Peter Wagner
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Courtesy of the IRS: Three Tips to Help You File a More Complete Form 990-Series Return A tax-exempt organization using the calendar-year as its tax year must file a Form 990-series return by May 15th, unless it has filed Form 8868 , Application for Automatic Extension of Time To File an Exempt Organization Return. The IRS suggests organizations consider these three tips to help ensure a complete return and reduce the chances we’ll send your return back or need to request additional information: Issue 1: Report your organization’s correct organization type. Many organizations report the incorrect organization type in Part I of Schedule ...
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  User Created 990 IRS

Seacoast Christian Community Church Manages Explosive Growth with Sage Intacct

By Tammy Bunting
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Glenn Wood is the Pastor of Church Administration for Seacoast Christian Community Church , a large, non-denominational church in South Carolina that was founded in 1988. Seacoast Christian Community Church now has 14 locations – and Glenn has been witness to that expansion – having been on staff at the church for nearly 25 years. When Glenn first began attending, Seacoast only had one location where about 600 people attended each week. Today, they proudly have 15,000 people attend services each weekend across all their locations. When Glenn was hired to work at the church, one of the first big changes he made was to move off of Shelby ...
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Dire predictions that Trump’s new tax law would cost charities billions of dollars haven’t come true — yet

By Tammy Bunting
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Courtesy of Market Watch Some feared that doubling the standard deduction would make Americans less likely to donate Michael Ostuni/Patrick McMullan via Getty Images A charity benefit luncheon in New York City. Nonprofit groups worried the new tax law would make people less likely to donate. By Leslie Albrecht Personal finance reporter This tax season put Americans face-to-face with the consequences of the new tax law, and many have been disappointed by smaller refunds and bigger tax bills . Nonprofits were bracing for the impacts of the new tax law too, but it appears that dire predictions about the revamped ...
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  User Created Giving

Why can't I reclassify my bill/invoice?

By Merilee Howell
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Troubleshooting the Inability to Reclassify (courtesy of the sage Intacct community) A common inquiry with Customer Support is: "Why can't I reclassify my bill/invoice?"  Our Help Center provides a detailed list of all possible reasons you may not be able to reclassify a transaction.  Below are some of the top troubleshooting points when you find yourself unable to reclassify a Bill, Invoice, or Adjustment in the Accounts Payable or Accounts Receivable applications.   First and foremost, have you set the appropriate configuration within the application? In order to be able to reclassify a bill or invoice, the application must be configured to permit ...
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  User Created Intacct Software tips intaccttip

9 Ways to Engage and Motivate Your Board Members to Raise Money

By Brenda Jacinto
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Re-posted from Feedspot  -  by Amy Eisenstein   Recently I provided a webinar for   Candid   (formerly   GuideStar   and Foundation Center ) called   How to Engage Board Members in Fundraising in 15 Minutes Per Month   ( recording available here ). There were a number of great questions at the end of the webinar. I promised the attendees I would respond in a blog post. This is that post, and I thought my regular readers (like you) would benefit from the answers, too. 4 Ways to Engage Your Board Members in Fundraising Engaging your board members in fundraising is pivotal to your success in raising major gifts. Here are four interesting questions ...
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Business Expense trends

By Glen Strack
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Business expense trends include scooters, food delivery, Uber, Lyft, Starbucks and more.  Read on for some interesting details. The following article by Michael Cohn was recently published at Accounting Today: More business travelers are using scooters to get around town, and the rentable scooter trend is starting to show up in corporate expense reports. The quarterly SpendSmart report from the expense management software provider Certify indicated the scooter startups Bird and Lime made up the majority of receipts in the category in the first quarter of the year, but Razor and Scoot are also jostling into the rankings. Bird collected 46 percent of ...
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The Employment Laws Every Growing Organization Should Know About

By Robert Hernandez
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Periods of growth are particularly exciting for small and midsize organizations, but they also bring new HR challenges. Along with adding employees—which may change the feel of your culture as well as your floorplan—your organization may become subject to federal and state laws that take effect once you have a certain number of employees. Most employment laws apply to organizations based on the number of people they employ, so as you grow, it’s vital to keep up-to-speed on any laws that newly apply or will soon apply to your organization. Federal Laws   To understand the scope of many of the federal laws discussed below, employers need to know the definition ...
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