Remove Definition Remove Liability Remove Pass-Through
article thumbnail

501c.yada, yada, yada

Sharpshooter Communications

After calling and clarifying (which took two phone calls and three emails), I fell into a rabbit hole because I realized I didn’t actually KNOW the definition of each of these categories - certainly not off the top of my head. There are probably a million loopholes through and around these requirements. I mean, I kinda knew.

article thumbnail

How Lessons Learned From Fighting Food Insecurity Can Help Your Nonprofit

Blue Avocado

This is definitely what happened for our story: we started with a simple idea and then were incredibly surprised at how helpful an extra bag of groceries could be to a lot of households. After many years of lobbying and hard work, the GSA was passed, enabling all parties to help people.

article thumbnail

Financial Audits for Small Nonprofits By: Kellie Brungard, GPC

Assel Grant Services

This report means the auditor thought they couldn’t issue a definitive opinion on the nonprofit. Disclaimer of Opinion – This type of report shows a company is not compliant with GAAP guidelines and portrays gross misstatements on its assets and liabilities.

GPC 40