Every organization — whether for-profit or nonprofit — is at risk of falling victim to costly acts of fraud. Nonprofits, though, have some common characteristics that can make them particularly susceptible to such schemes. This article discusses organizational weak spots and advises on ways to combat risks by implementing some simple controls.
T.I.E. Blog
Welcome to The Idea Exchange (TIE) Blog. Timely articles on a wide range of topics including new tax legislation, accounting regulations, best practices, industry news, business insights and more.
Should You Opt Out of Advance Child Tax Credit Payments?
What is the Child Tax Credit? Child tax credit payments, which were set up and expanded under the American Rescue Plan passed earlier this year, amount to $3,000 annually per child ages 6...
Checking Your Service Providers’ Data Security System
Maintaining data security is a significant part of running any business. Breaches are inevitable — although not at every organization. Now is the time to ask your service providers about their data security.
Nine Employee Benefit Plan Audit Tips
Well it’s that time of year again…time to dust off those participant files and prepare for the employee benefit plan audit season. As a firm who takes pride in our efficiency with employee benefit plan audits, here are some tips that we hope will help ensure your retirement plan audit goes smoothly and meets your goals now and in the future:
Employee Retention Credit: Are You Missing Out?
The Employee Retention Credit, or ERC, is a significant tax credit enacted in 2020 under the CARES Act to help businesses keep employees on payroll during the COVID-19 pandemic. Since...
SBA’s RRF Program to Accept Applications May 3rd at 12 PM ET
Registration for the SBA's Restaurant Revitalization Fund (RRF) relief program application portal will begin on Friday, April 30, 2021, at 9 am ET. Applications will open on Monday, May 3,...
Shuttered Venue Operator Grant Program Set to Reopen
Updated 4.23.2021 Updated launch date: The SBA announced that is has completed rigorous testing and the Shuttered Venue Operators Grant application portal and it will reopen on Monday,...
Five Reasons Your Organization Needs an Audit Committee
Success for not-for-profits (NFPs), regardless of their type or size, is built on a firm foundation of fiscal accountability and governance. NFPs can access expertise in these areas – and in the process more successfully fulfill their strategic goals – by leveraging the knowledge and experience of audit committees.
Your nonprofit’s bylaws
Has your organization outgrown its bylaws? Sometimes, as a nonprofit expands and matures, the guiding rules set when it was just a twinkle in its founders’ eyes need to be revisited and brought up to date. Revising your bylaws involves more than just altering the language of rarely visited documents. The process provides you with an opportunity to look closely at how your nonprofit is evolving and whether such developments are consistent with your original mission.