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Financial Issues
for Nonprofits
Presented by
Scott Denlinger, Director, CBIZ MHM Nonprofit Practice Group
Email: sdenlinger@cbiz.com| Phone: (301) 951-3636, Ext. 6739
linkedin.com/in/jscottdenlinger
Topics:
 Changes to OMB A-133 Audits
 Excessive Executive Compensation
 Business Continuity Planning
 Key Filing Dates
– Payroll Returns
– Income Tax / Information Returns
– Personal Property Returns
– A-133 Reporting
– State Charity Registrations
2
Nonprofits – Changes to A-133 Audits
 Increased threshold to $750,000
 Increase in threshold for Type A program to
$750,000
 Decreased thresholds from 50% & 25% to
40% & 20%
3
Read our complete report
[Visit MHMCPA.com/Resources/Articles/MHM-Messenger]
 Rebuttable presumption principle
 Rebuttable presumption may not be enough
 Potential consequences (loss of exempt status,
penalties, etc.)
 Schedule J – how many boxes checked is enough?
4
Nonprofits – Excessive Executive Compensation
 Prevent unbudgeted and unnecessary costs
 Protect valuable data
 Increase safety of all personnel
 Minimize decision making during an event
 Help your organization quickly respond and
resume operations
 Reduce your liability and insurance costs
 Provide organizational stability
Nonprofits – Business Continuity Planning
Disaster recovery and continuity plans can:
5
6
Nonprofits – Business Continuity Planning
 Initial Assessment
− What types of risks
− Different for each organization
 Develop / document the plan for each scenario
 Train, test and maintain
Three phases:
Outside professionals can help guide your business continuity
planning process and help you create plan that suits your unique
risk environment and budgetary needs.
Nonprofits – Key Filing Dates
Payroll Returns
 January 31st
− Forms 941, 945, 940
− Forms W-2/W-2G & 1099 to employees
 February 28th
− Forms W-3 & 1096
− Forms W-2/W-2G & 1099 to employees
7
Income Tax/Information Returns
− Form 990/990-T
o 15th day of 5th month after year-end
o Two 3-month extensions are available
− Form 990-W
o Due 15th day of 4th, 6th, 9th and 12th months of fiscal year
8
Nonprofits – Key Filing Dates
State Income Tax Returns
 DC Form D-20
− Due 15th day of 5th month after year-end
− 6-month extension available
 DC Form D-20ES (Estimated tax payments)
− Due 15th day of 4th, 6th, 9th and 12th months of fiscal year
 MD Form 500
− Due 15th day of 5th month after year-end
− 7-month extension available
 MD Form 500D (Estimated tax payments)
− Due 15th day of 4th, 6th, 9th and 12th months of fiscal year
 VA Form 500
− Due 15th day of 6th month after year-end
− 6-month extension available
 VA Form 500ES
− Due 15th day of 4th, 6th, 9th and 12th months of fiscal year 9
Nonprofits – Key Filing Dates
 Maryland
− Due April 15th
− 2-month extension
available
− Certain nonprofit
organizations are
exempt
Personal Property Tax Returns
10
Nonprofits – Key Filing Dates
 Virginia
(taxed at county level)
− Fairfax County due May 1st
(no extension available)
− Arlington County due May 1st
(no extension available)
 District of Columbia
− Due July 31st
− 3-month extension
available
− 501(c)(3) organizations
are exempt
− Exempt if remaining cost
is less than $225,000
 Audit Reports/Data Collection Form
− Due 30 days after receipt of audit report or 9 months after year-end
− No extensions allowed any more
− Loss of low-risk auditee status
 Federal Funding Accountability and Transparency Act
(FFATA) Reporting
− Must report sub-awards >$25,000
− Due at the end of the month following the month the sub-award is
made
11
A-133 Reporting
Nonprofits – Key Filing Dates
 District of Columbia
− Charitable Solicitation Renewal every two years by January 15th
− BRA-25 every two years by April 1st
 Virginia
− Due by 15th day of 5th month after year-end
− Extension of time is available
− Individual counties may require business license renewals
 Maryland
− Due within six months of fiscal year-end
12
State Charity Registrations
Nonprofits – Key Filing Dates
You may also be interested in
MHM’s 2015 Preview: Not-for-Profit
Accounting and Tax Changes
and
2014 Schedule A Expands Reporting Requirements
for Supporting Organizations

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Financial Issues for Nonprofits

  • 1. Financial Issues for Nonprofits Presented by Scott Denlinger, Director, CBIZ MHM Nonprofit Practice Group Email: sdenlinger@cbiz.com| Phone: (301) 951-3636, Ext. 6739 linkedin.com/in/jscottdenlinger
  • 2. Topics:  Changes to OMB A-133 Audits  Excessive Executive Compensation  Business Continuity Planning  Key Filing Dates – Payroll Returns – Income Tax / Information Returns – Personal Property Returns – A-133 Reporting – State Charity Registrations 2
  • 3. Nonprofits – Changes to A-133 Audits  Increased threshold to $750,000  Increase in threshold for Type A program to $750,000  Decreased thresholds from 50% & 25% to 40% & 20% 3 Read our complete report [Visit MHMCPA.com/Resources/Articles/MHM-Messenger]
  • 4.  Rebuttable presumption principle  Rebuttable presumption may not be enough  Potential consequences (loss of exempt status, penalties, etc.)  Schedule J – how many boxes checked is enough? 4 Nonprofits – Excessive Executive Compensation
  • 5.  Prevent unbudgeted and unnecessary costs  Protect valuable data  Increase safety of all personnel  Minimize decision making during an event  Help your organization quickly respond and resume operations  Reduce your liability and insurance costs  Provide organizational stability Nonprofits – Business Continuity Planning Disaster recovery and continuity plans can: 5
  • 6. 6 Nonprofits – Business Continuity Planning  Initial Assessment − What types of risks − Different for each organization  Develop / document the plan for each scenario  Train, test and maintain Three phases: Outside professionals can help guide your business continuity planning process and help you create plan that suits your unique risk environment and budgetary needs.
  • 7. Nonprofits – Key Filing Dates Payroll Returns  January 31st − Forms 941, 945, 940 − Forms W-2/W-2G & 1099 to employees  February 28th − Forms W-3 & 1096 − Forms W-2/W-2G & 1099 to employees 7
  • 8. Income Tax/Information Returns − Form 990/990-T o 15th day of 5th month after year-end o Two 3-month extensions are available − Form 990-W o Due 15th day of 4th, 6th, 9th and 12th months of fiscal year 8 Nonprofits – Key Filing Dates
  • 9. State Income Tax Returns  DC Form D-20 − Due 15th day of 5th month after year-end − 6-month extension available  DC Form D-20ES (Estimated tax payments) − Due 15th day of 4th, 6th, 9th and 12th months of fiscal year  MD Form 500 − Due 15th day of 5th month after year-end − 7-month extension available  MD Form 500D (Estimated tax payments) − Due 15th day of 4th, 6th, 9th and 12th months of fiscal year  VA Form 500 − Due 15th day of 6th month after year-end − 6-month extension available  VA Form 500ES − Due 15th day of 4th, 6th, 9th and 12th months of fiscal year 9 Nonprofits – Key Filing Dates
  • 10.  Maryland − Due April 15th − 2-month extension available − Certain nonprofit organizations are exempt Personal Property Tax Returns 10 Nonprofits – Key Filing Dates  Virginia (taxed at county level) − Fairfax County due May 1st (no extension available) − Arlington County due May 1st (no extension available)  District of Columbia − Due July 31st − 3-month extension available − 501(c)(3) organizations are exempt − Exempt if remaining cost is less than $225,000
  • 11.  Audit Reports/Data Collection Form − Due 30 days after receipt of audit report or 9 months after year-end − No extensions allowed any more − Loss of low-risk auditee status  Federal Funding Accountability and Transparency Act (FFATA) Reporting − Must report sub-awards >$25,000 − Due at the end of the month following the month the sub-award is made 11 A-133 Reporting Nonprofits – Key Filing Dates
  • 12.  District of Columbia − Charitable Solicitation Renewal every two years by January 15th − BRA-25 every two years by April 1st  Virginia − Due by 15th day of 5th month after year-end − Extension of time is available − Individual counties may require business license renewals  Maryland − Due within six months of fiscal year-end 12 State Charity Registrations Nonprofits – Key Filing Dates
  • 13. You may also be interested in MHM’s 2015 Preview: Not-for-Profit Accounting and Tax Changes and 2014 Schedule A Expands Reporting Requirements for Supporting Organizations