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Blogging Beyond the Numbers

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Posted by: Mike Hablewitz 3 years ago
As stewards of critical resources that allow faith-based organizations to survive and do the good works they are called to do, those in position of managing the finances of religious organizations must develop the ability to identify financial problems that might be on the horizon. Unfortunately, as is shown by the number of churches and other religious organizations struggling to remain operationally af...
Posted by: Yigit Uctum 3 years ago
Once your organization obtains exempt status under IRS 501(c)(3), it is important to be aware of the Federal and State rules and regulations that must be followed to avoid jeopardizing the organization's exempt status. Required Federal Filings 990, 990-EZ, or 990-N Annual information return for public charities.  Type depends on the organization's size.  Return is due on the 15th day of the 5th month...
Posted by: Yigit Uctum 3 years ago
Charity Navigator is a nonprofit organization that evaluates the performance of 501(c)(3) Public Charities.  Each charitable organization reviewed is assigned a star rating from 1 to 4.  Obtaining a 4-star rating from Charity Navigator can boost an organization's ability to secure donations and grants from donors. The purpose of the star rating is to show donors how efficiently a charity is using their...
Posted by: Yigit Uctum 3 years ago
Below is a list of the most common information needed to prepare a 990.  Less information is needed to prepare a 990-EZ and more information is needed for more complex organizations but this is a good starting point. Basic Information Organization's legal name, full address, and Federal Employer Identification Number (EIN) Organization's website Name and title of the person who will be ...
Posted by: Yigit Uctum 3 years ago
Since the 990 is subject to public disclosure rules and is easily available online, it is important to stress accuracy when preparing this return.  This is the face of your organization.  Many individual donors and foundations will rely on the information presented on the 990 to make their funding decisions.  Below is a list of common mistakes that are made when preparing a 990 return. Most Damaging Com...
Posted by: Yigit Uctum 3 years ago
What is the Form 1023? Form 1023 is the application filed with the IRS in order to request exempt status under Section 501(c)(3).  A new Form 1023-EZ was released in July 2014 to help smaller organizations seeking exempt status.  Upon approval, the organization will receive a determination letter from the IRS.  The determination letter provides written assurance that the organization qualifies to receiv...
Posted by: Yigit Uctum 3 years ago
What is the Form 990? Form 990 is the annual information return required to be filed with the IRS by most organizations exempt from income tax.  The form requires disclosure of information about the organization’s mission, program achievements, governance, and finances.   The Form 990 is subject to Federal public disclosure laws.  There are many websites that make 990s available for the public to rev...
Posted by: Kyle Ager 3 years ago
Now that I have been back in Wisconsin for a couple of weeks and have been asked a lot of questions by my friends and colleagues, I have had some time to really think about the exchange program.  While I was there, the time went by very quickly.  The staff at Crowe Horwath Peak were fantastic.  They were excellent hosts and made me feel very welcome. During the exchange program I got to see and try a lo...