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Do You Have to Pay Taxes on Grant Money?

GrantNews

Navigating the tax framework supporting grant money requires careful consideration to ensure compliance with IRS regulations and avoid potential tax liabilities. Reporting Requirements When grant money is taxable, the grantor typically issues a Form 1099-G or similar documentation to report the amount received.

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Keep Your Gift Acceptance Policy Strong

Planned Giving

This document is written to explain charitable gifts to donors, but it is helpful to enlighten nonprofits on the burden of reporting unusual major gifts legally too. Referring to the IRS fair market value guidelines document above, as this is an authoritative, frequently updated source. A gift acceptance policy is no different.

Policy 93
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How to Create a Volunteer Handbook Your Volunteers Will Use

Get Fully Funded

Let your volunteers know about your organization’s liability coverage, what it covers and what it does not. Also share with volunteers about the Volunteer Protection Act , which protects volunteers from liability in cases of ordinary negligence. Is there a liability release everyone must sign? Is orientation required?

Policy 120
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4 Nonprofit Financial Statements and How to Create Them

Blackbaud

Let’s take a closer look at each of these documents and how your nonprofit can compile them. This document subtracts total expenses from total revenue to let you know if your organization is bringing in more money than it is spending. Four Main Financial Statements for Nonprofits 1.

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Online Will Planners: Should Your Nonprofit Have One?

Planned Giving

Some fear there may be liability issues. They gather important financial documents, type in their relevant information, and voila! … Every online will maker works in essentially the same way to prepare a valid will — they have to, because they’re producing a legal document. the system generates a will.

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How to Create a Nonprofit Chart of Accounts: 3 Steps + Tips

Get Fully Funded

While maximized fundraising seems like the solution, the truth is that it takes responsible allocation of your resources to make sure every dollar is used wisely—and this starts with effective documentation. Most COAs are organized into five categories: assets, liability, net assets, revenue, and expense accounts.

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Share Your Green Tech Story and Win a Laptop or Tablet!

Tech Soup

The individual or group must also agree to sign and return, upon request of Sponsor, any assignments, releases or other documents that Sponsor may require so as to perfect, effect or record such grant of rights in submission. b) Limitations of Liability. Winner Determination.