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Thought Leadership

When it comes to thought leadership and staying informed, we’ve got you covered. See below for recent articles, webinars, and downloadable resources available.

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09.16.20 NBI Session 3

On Demand Webinar: The National Bank of Indianapolis 2020 Nonprofit Training Series: Managing Change in Times of Uncertainty

In 2020, nonprofit organizations met unprecedented challenges resulting from COVID-19. Join local nonprofit leaders for a panel discussion on how they managed change for their organization in 2020 and how they will use their experiences to plan for 2021 and beyond. During this session, Erin Hedges, Founder & President of Hedges will moderate a discussion […]

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Political Activity and NFPs

Political Activity and Not-For-Profit Organizations

With the current political climate and upcoming elections, your not-for-profit organization may be considering how you can get involved. The most important thing your organization can do is to make sure you understand the rules and regulations before you participate in any type of political activity. This begins with understanding the distinction between political campaign […]

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09.16.20 NBI Session 3

On Demand Webinar: NBI 2020 Nonprofit Training Series: Communicating Your Impact

Join The National Bank of Indianapolis and McGovern Consulting Group Thursday, September from Noon to 1 PM Eastern for The National Bank of Indianapolis Session 3 of the 2020 NonProfit Training Series, titled Communicating Your Impact! During this session, TJ McGovern of McGovern Consulting Group will guide you through a virtual session focused on how to simplify […]

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Private Foundations and Self-Dealing 8.20

Private Foundations and Self-Dealing

While both exempt under IRC Section 501(c)(3), private foundations have several restrictions that do not apply to public charities. One major restriction is the self-dealing rules. Private foundations are prohibited to engage in acts of direct or indirect self-dealing with disqualified persons. There are six specific acts of self-dealing between a private foundation and a […]

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NFP Cybersecurity Risks

Is Your NFP Organization at Risk?

Cyber Security Vulnerabilities In light of the recent Blackbaud data breach, we are reminded of the importance of ensuring your data is secure and being aware of cybersecurity vulnerabilities. What should be done to address the risks? Not-for-profit organizations handle sensitive data every day, which makes them a prime target for an attacker. Reputation is […]

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Potential Issues with Online Donor Solicitation and Grant Applications

As organizations have had to navigate and operate under the instantaneous, shifting changes that are resulting from the current pandemic, one of the largest challenges to overcome is continuing to receive and replenish resources during a time when normal fundraising activities might not be possible. Revenues previously raised from annual fundraisers and campaigns that are […]

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Can my not-for-profit use donor-restricted funds for operating expenses during this COVID-19 crisis_

Use of Donor-Restricted Funds in a Crisis

Can my not-for-profit use donor-restricted funds for operating expenses during this COVID-19 crisis? As a general matter, not-for-profits cannot use donor-restricted funds for other expenses. If funds have been restricted by a donor, then that restriction remains, even in these extraordinary times. Restrictions on donations are typically made in writing by the donor (verbal restrictions […]

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Webinar: National Bank of Indianapolis 2020 Nonprofit Training Series_ Setting Financial Benchmarks

On-Demand Webinar: NBI 2020 Nonprofit Training Series: Setting Financial Benchmarks

Join The National Bank of Indianapolis and Blue & Co. as we discuss how nonprofits can set financial benchmarks to focus on critical measures that help ensure sustainability during times of uncertainty. Speakers: Annmarie Novotney, CPA, Senior Manager, Blue & Co. Jill Robisch, Vice President & Senior Business Development Officer, Nonprofit Services, The National Bank […]

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Deferral of Revenue Recognition and Leases

Deferral of Revenue Recognition and Leases

This article was originally published with updates to FASB updates on December 10, 2019 and was most recently updated on June 5th. It is being updated as new information becomes available. On June 3, 2020, the FASB issued Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (ASC 606) and Leases (ASC 842) Effective […]

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Managing Cash Flow Through Uncertainty

Managing Cash Flow Through Uncertainty

Cash flow management is a critical exercise during uncertain times like these and one that is top of mind for every business owner.  It involves managing every aspect of the business that can have an effect on cash inflows or outflows, including focusing on accelerating inflows, prioritizing spending, and overall allocation of valuable resources. Where […]

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CARES Act Charitable Deduction Expansion: Opportunity for Attracting New Donors

CARES Act Charitable Deduction Expansion: Opportunity for Attracting New Donors

With the needs of our world constantly changing due to the effects of the COVID-19 pandemic, non-profit organizations find themselves having to rethink their operations, short-term missions, and revenue streams. The new charitable contribution deduction provisions outlined in the CARES Act may be an opportunity to attract a new base of donors or get additional […]

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Tax Filing Deadline Reminder to Non-Profit Organizations

Tax Filing Deadlines Have Been Extended for Not-For-Profit Organizations

This article was originally published on March 30th and is being updated as new information becomes available. The Internal Revenue Service (IRS) announced on April 9, 2020, that informational tax return due dates have been extended in light of the coronavirus pandemic. Not-for-profits with filing deadlines of April 1, 2020 to July 14, 2020 now […]

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Financial Planning for Nonprofits in Uncertain Times

Financial Planning for Nonprofits in Uncertain Times

It is in times like the current COVID-19 pandemic where our national and global economies are facing historic challenges that organizations are confronted with the need to make paradigm shifts to stay viable and sustainable. As many organizations were preparing their 2020 financial budgets, fundraiser calendars, and establishing strategic plans, few, if any, were prepared […]

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Webinars

man typing on a laptop for cybersecurity

Strengthening Cybersecurity in Not-for-Profits: Assigning Oversight Responsibilities to Mitigate Risk

By Allen Norvell, CPA, MBA, Director at Blue & Co. While certainly not a new risk for not-for-profit (NFP) organizations, cybersecurity risk is increasing in profile as an area of interest among members of governance. NFPs manage a significant volume of customer and donor data. We have previously provided thought leadership to help NFPs identify […]

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woman using a quickbooks point of sale system

Blue & Co. Offers Expertise to Not-For-Profits Affected by QuickBooks Point of Sale Discontinuation

By Nancy Orben, CPA, Senior Manager, Laura Philpot, Senior Accountant, Business Services, and Lisa Totten, Senior Accounting Specialist at Blue & Co. Attention all not-for-profit organizations! Are you currently using QuickBooks Point of Sale in your gift shops, ticket sales, or day-to-day business? If so, you may have heard the recent news that Intuit will […]

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shamrocks not-for-profit tips

3 Lucky Tips for Not-For-Profits to Avoid Bank Fraud

Trusted Insights from The National Bank of Indianapolis Nonprofit Services Team Not-for-profit organizations are increasingly falling victim to fraud, with a rising number of incidents and an ever-growing amount of money being lost. Fraudsters find it easy to target not-for-profits, as their publicly available 990s provide valuable information. Protecting your organization from such fraudulent activities […]

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spreadsheet with investment information and a key

Program-Related Investments: A Valuable Funding Tool for Not-For-Profits

By: Mike Gricius, Senior Manager at Blue & Co. While not-for-profits rely heavily on grants and donations to fund their charitable missions, they can also explore other funding options, such as Program-Related Investments (PRIs). PRIs offer a unique opportunity for not-for-profit entities to invest in a way that generates both social impact and financial returns. […]

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man pressing buttons on a calculator and writing

Not-for-Profit News: Indiana Property Tax Exemption

By: Kandy Wischmeier, CPA, Tax Manager at Blue & Co. If your not-for-profit organization is located in Indiana and has had a significant change in the use of property, has moved in the last year, or is a new entity, you may be required to file Form 136, Application for Property Tax Exemption. Entities are […]

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hands holding a notebook infront of a laptop

Not-for-Profit Tax Alert for 2023: Kentucky Sales Tax Law Changes

By: Rick Shields, Principal, CPA, CFE Effective January 1, 2023, Kentucky implemented numerous changes to its sales tax laws. Historically, not-for-profits have been able to take advantage of numerous Kentucky sales tax exemptions. In practice, that has allowed not-for-profits to operate as though sales tax does not apply to their operations. Kentucky has been expanding […]

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