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Wagenmaker & Oberly provides legal counsel to NONPROFIT ORGANIZATIONS across the nation with offices in Chicago and Charleston.

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Nonprofit Finance: Optimal Success Through Sound Financial Management

April 29, 2021

Nonprofits and finances – in practice, these two words should fit together well for organizational flourishing, reflecting capable stewardship and stability. But all too often, financial aspects of nonprofit operations can prove intimidating, overlooked, or otherwise mismanaged. CPA Michael Batts of Batts Morrison Wales & Lee has recently published a stand-out resource, entitled Nonprofit Finance: The Field Guide for Financial Operations of Ministries, Schools, and Other Public Charities. This easy-to-digest book is chock full of worthwhile pointers, helpful instructions, and advice well worth following closely, all to help nonprofit leaders achieve optimal success and integrity in financial administration.

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Governance/Religious Organizations

NONPROFIT LAW NEWSFEED

New law will lower state fees for charities

05/14/2021

TimesNews  There’s a new law in Tennessee to lower all charitable fees for the upcoming fiscal year.

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Know The Law: A nonprofit board’s duties when ceasing operations

05/13/2021

NH Union Leader  What are the duties/responsibilities of a non-profit organization and/or its board of directors regarding surplus funds and physical inventory should that nonprofit decide to cease operations?

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IRS Reminds Tax-Exempt Organizations to File Information and Tax Returns by May 17

05/12/2021

Maui Now  The Internal Revenue Service issued a reminder that May 17 is the due date for tax-exempt organizations operating on a calendar-year basis to provide certain annual information.

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Volunteers of America Southwest Accused of Double-Billing, Fraud and Conflicts

05/06/2021

Voice of San Diego  In October 2018, James McGowan was a financial clerk for a prominent San Diego charity, Volunteers of America Southwest. While working in the company’s accounting software, he noticed some odd payments to new companies he’d never seen.

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Legislature Passes Punitive Measures Aimed at Environmental Nonprofits

05/04/2021

Independent Record The Legislature on Wednesday passed a bill that takes special aim at environmental groups and other charitable organizations that have federal 501(c)(3) nonprofit status.

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Should San Jose Require Nonprofits to Disclose Lobbying?

05/03/2021

San José Spotlight More than 50 individuals, companies and advocacy groups legally lobby San Jose each year about subjects including Google developments and cannabis.

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The Link Market Denied Sales Tax Exemption By Missouri Officials, Awaits State Supreme Court Decision

04/30/2021

St. Louis Dispatch Another St. Louis-area nonprofit is fighting the Missouri Department of Revenue over its sales tax exemption, ad the result may hinge on a Missouri Supreme Court decision in a similar case.

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Minnesota AG Sues Company for Posing as Charity Helping Service Members, Funneling Donations to Owner

04/23/2021

KSTP News Minnesota Attorney General Keith Ellison said Thursday that his office is suing a company that refers to itself as "Contributing 2 Combatants and Coast 2 Coast Marketing" and its owner, Jacob Choinski, for violating charitable-solicitation and consumer-protection laws.

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With Barrett On Supreme Court, California’s Church COVID Limits Are Being Overturned

04/22/2021

CapRadio After more than a year of legal tussling with state public health officials over restrictions on indoor gatherings, houses of worship — mostly evangelical or Catholic and politically conservative — have been on a winning streak at the nation’s highest court. 

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Connecticut Man Owes $16,000 in Taxes after Facebook Covid Fundraiser

04/21/2021

The Washington Post When Louis Goffinet, a middle school science teacher in Connecticut, first started buying groceries for struggling families, he never expected to be handling tens of thousands of dollars. Determined to help a few elderly or laid-off neighbors last April, he appealed to his Facebook friends to throw him a few bucks on an online fundraiser.

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New law will lower state fees for charities

05/14/2021

TimesNews  There’s a new law in Tennessee to lower all charitable fees for the upcoming fiscal year.

READ MORE

Know The Law: A nonprofit board’s duties when ceasing operations

05/13/2021

NH Union Leader  What are the duties/responsibilities of a non-profit organization and/or its board of directors regarding surplus funds and physical inventory should that nonprofit decide to cease operations?

READ MORE