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We encourage you to contact Hood & Strong LLP for help or advice in any of these areas to keep your non-profit strong and successful.
Your comments on the
e-newsletter format are welcome and encouraged, please direct them to notforprofitgroup@
hoodstrong.com
Sincerely,
Hood & Strong LLP
Not-for-Profit Niche
Kathy Grogan
Lynn Henley
Susan Malone
Mollie Marshall
Stephen Piuma
Robert Raffo
www.hoodstrong.com
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Worker status: What you decide may cost you
 According to the IRS, the misclassification of workers as independent contractors (rather than employees) accounts for $53 billion to $300 billion in unpaid taxes each year. As a result, the agency has been zeroing in on misclassification as a revenue raiser. And, since it’s found that it’s more difficult to collect from independent contractors, it tends to favor employee status. This article discusses some of the most important factors the IRS uses in making the determination, and what employers can do if they’re unsure of their compliance. A sidebar explains the importance of keeping good records on employees and independent contractors.
Full Article
When should you forgo a special event?
 Many nonprofits rely on special events to raise large amounts of money in one fell swoop and increase public awareness of their organization at the same time. But how can an organization know if an event will be worthwhile? This article outlines four steps a nonprofit can take to make a sound decision.
Full Article
Operating reserves — Checking your safety net
 During the last recession many nonprofits turned to their operating reserves to keep from going under. As nonprofits prepare for those inevitable hard times in the future, they need to be clear about which — and how many — assets they can peg as operating reserves. This article explains what assets should and should not be viewed as operating reserves, and the amount that might be considered appropriate for a particular kind of nonprofit.
Full Article
News for Nonprofits
 This issue’s “News for Nonprofits” discusses a rise in Automated Clearing House (ACH) fraud, and what steps organizations can take to reduce the risk. It also emphasizes that nonprofits should regularly monitor and enforce their conflict of interest policy.
Full Article
This publication is distributed with the understanding that the author, publisher and distributor 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. ©2011 NPAjj11
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