501c3

The Do’s & Don’ts of Benevolence Funds

Putting formal procedures in place is always a wise decision. A Benevolence Fund is no exception. Benevolence Funds are used by churches and other nonprofits to help those in need during a financial crisis. Here are some helpful hints for maintenance and oversight. Documenting is essential for protecting your ministry and putting in place checks …

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Nonprofit Recordkeeping Part 2

Records Management Assets & Liabilities Assets are the property, such as investments, buildings and furniture an organization owns and uses in its activities. Liabilities reflect the pecuniary obligations of the organization. A public charity must keep records to verify certain information about its assets and liabilities. Records should show: -when and how the asset was …

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Must I Disclose Nonprofit Information to a Complete Stranger?

Should an organization disclose nonprofit information? “A complete stranger asked me for a copy of my organization’s annual return. She said if I don’t give her a copy right away, she’ll complain to the IRS and I’ll get a fine. Is she right? What do I do?” We get this kind of a call from …

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