Massachusetts implements charitable giving tax deduction

Nov 27, 2023

Massachusetts has revived the charitable giving tax deduction for state income tax filers for the 2023 tax year, so taxpayers will have an additional tax break when they file their returns next year. And the commonwealth’s nonprofits are happy about the prospect that it may encourage more charitable giving.

MA Attorney General relieves small nonprofits of filing requirement

Aug 23, 2023

The Massachusetts Attorney General’s (AG) office recently amended filing requirements for small charities, relieving them of the requirement to submit a federal Form 990 as part of their annual filings and disclosures. The change takes effect starting September 1,...

Nonprofits may invest excess cash to build income

Jul 20, 2023

Jayme F. Moore, CPA Vice President & Director Nonprofit organizations looking for new sources of income may find it in their own treasury in the form of excess cash. If your organization determines it has excess cash that will not be needed for operations in the...

A fraud recovery plan is essential if your nonprofit is victimized

Mar 29, 2023

Sean McNeil, CPA Accounting & Auditing Manager No one wants to think of a nonprofit organization being defrauded. But it happens, and your nonprofit board should create a fraud recovery plan now in case your organization is victimized. Nonprofit organizations make...