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Category: Ethics

Classify Your Nonprofit’s Workers Correctly — Or Risk Repercussions

Posted on May 4, 2022

Many not-for-profits are understaffed in 2022, thanks to a labor shortage and pandemic-related budget shortfalls. Some organizations are filling the gaps with freelancers and contractors. However, such decisions can lead […]

Posted in Ethics, Hiring, HR, IRS, Nonprofit, Payroll, Reporting, Tax LawsTagged FLSA, Independent Contractor, nonprofit staffing

Educate Your Children On Wealth Management

Posted on February 15, 2022

If you’ve worked a lifetime to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, […]

Posted in Charity, Donation, Ethics, Investments, Personal Taxes, PlanningTagged Teaching kids about money, Wealth Management

How To Assess Fraud Risks Today

Posted on December 31, 2021December 31, 2021

Auditing standards require external auditors to consider potential fraud risks by watching out for conditions that provide the opportunity to commit fraud. Unfortunately, conditions during the COVID-19 pandemic may have […]

Posted in Audit, Crisis Management, Ethics, Fraud, Internal Control, Records Retention, Regulation, Risk Assessment, Small BusinessTagged fraud risk factors

Why Excess Benefit Transactions Are Out-Of-Bounds

Posted on December 17, 2021December 31, 2021

Emily was a dedicated board member of her community’s most prominent social-services charity. But her commitment to the cause and the nonprofit’s programs didn’t prevent her from inadvertently violating the […]

Posted in Charity, Ethics, Investments, Nonprofit, Records Retention, ReportingTagged excess benefit transactions, insider profit

When Nonprofits Should Return Donations

Posted on November 29, 2021November 29, 2021

Return requests generally are rare, but occasionally donors may ask your not-for-profit to return their gifts. Are you required to comply? What if you’ve already spent the money? Such requests […]

Posted in Charity, Donation, Ethics, Internal Control, NonprofitTagged donation refund policy, Donation return

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The articles in this blog are published with the understanding that the authors are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use.

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