After a long year away from your volunteers during COVID, it’s wonderful to see their faces back at your nonprofit’s site. However, their return brings an increased risk of liability. Just as employees could sue you for injuries or other harm contracted while on the job, volunteers can pin you with a lawsuit. Nonprofit audit and broker dealer audit experts alike suggest having processes in place to reduce the risk of lawsuits from all stakeholders.
California nonprofit audit
Sometimes, nonprofit organizations will work with other companies to accomplish things better together. With these arrangements, both companies can save money and do their job more efficiently. Working with other companies is often a great idea, but it is critical that your accounting departments know how to accurately report these collaborations to the government. Reporting […]
Not-for-profit companies must stay up to date on filing form 990 or 990-N with the IRS in order to maintain tax-exempt status. If at all possible, it’s best to avoid losing tax-exempt status in the first place, because failing to uphold California nonprofit audit compliance requirements means your company may be subject to corporate taxes […]