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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October 08, 2020
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 […]
September 19, 2020
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 […]
September 03, 2020
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 […]
August 23, 2020
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 […]
August 19, 2020
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 […]
August 12, 2020
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 […]
July 23, 2020
Now that many not-for-profit (NFP) entities have received a loan under the Small Business Administration’s Paycheck Protection Program (PPP), they are now trying to determine how and when to account for the forgiveness of the loan. Although the legal form of the PPP loan is debt, some believe that the loan is a government grant. […]
June 16, 2020
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 […]
June 08, 2020
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 […]
June 05, 2020
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 […]
May 13, 2020
As you plan to spend funds received through the Paycheck Protection Program (PPP) loan, there are many considerations not-for-profit organizations need to take into account. Not only must you plan to spend funds for allowable purposes (including payroll and benefits, rent, and utilities) to obtain forgiveness of all or a portion of the amounts borrowed, you […]
May 05, 2020
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 […]
May 04, 2020
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 […]
April 13, 2020
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 […]
April 10, 2020
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 […]
Webinars
April 19, 2023
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 […]
March 31, 2023
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 […]
March 14, 2023
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 […]
February 20, 2023
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. […]
February 01, 2023
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 […]
January 10, 2023
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 […]
