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Reilly Nonprofit Advisor

Are you ready for the Omni Circular?

Jul 26, 2016

The federal government's "Omni Circular" streamlined requirements from eight existing circulars that applied to federal awards. Its provisions are now affecting most nonprofits that receive federal funds.

Reilly Nonprofit Advisor

Benchmarking can provide crucial insights for nonprofits

Jan 06, 2016

Nonprofits that don’t benchmark their data against themselves and other organizations are at a disadvantage. They miss out on financial insights and potential donations.

Reilly Nonprofit Advisor

How should your nonprofit value donated property?

Jan 06, 2016

With less cash in people’s pockets, your nonprofit may see an increase in noncash donations. Whether you receive used computers, office furniture, or even a building, the fair market value (FMV) of donated property needs to be recorded on your Form 990 and financial statements.

Reilly Nonprofit Advisor

The Season of Giving – Substantiation requirements for charities

Jan 06, 2016

Many charities receive a substantial part of their support during the holiday season. In order to assist donors in steering clear of difficulties with the IRS, you want to make sure the supporting documentation your charity provides will meet the requirements for a valid charitable deduction.

Reilly Nonprofit Advisor

Follow these do’s and don’ts to maintain your 501(c)(3) status

Jul 17, 2015

Your status with the IRS as a tax-exempt “public charity” gives you significant benefits — paying no federal, state or local income taxes is the most obvious advantage. But keeping your 501(c)(3) status isn’t automatic

Reilly Nonprofit Advisor

Building a better nonprofit audit committee

Jul 16, 2015

Start with a clear picture of its roles and responsibilities

Reilly Nonprofit Advisor

A-133 Audit threshold raised for small nonprofits

Feb 04, 2015

The federal government has made life a little easier for small nonprofits that receive federal funds.

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