Operations Cafe

Operations Cafe is a friendly, virtual meeting place for like-minded people wanting to connect on topics about nonprofit operations. At the cafe, nonprofit organizations, interested individuals, and Impact 100 Seattle members will connect with experts they can consult with and learn from, to enable them to operate more efficiently and smoothly, thereby allowing the nonprofit organizations to focus on their primary mission.

Do you have expertise to share?

Accounting, Taxes and Audits

Held on: 07/19/2022

A panel of experts from Clark Nuber, a Certified Public Accounting firm in the greater Seattle area, roll their sleeves up and deep dive on questions on: Accounting, Taxes and Audits.  Key topics discussed (learn more in the video):

• 'Don't be late!  File first!...then amend.'  There is a cumulative daily penalty for filing late. 
• Utilize your board members...incorporate them into how they can be part of your system of internal controls!
• Gift cards are cash and are treated as cash from a tax perspective - find out more about tax rules around gift cards and how they should be handled for employees, volunteers, as gifts etc.
• A good structure for NP's is to have HR manage employees, benefits and profiles, while Finance manages payroll.

Helpful Links

• 10 Easy Controls for small nonprofits
• Who should prepare 990 form
• Tax1099.com is a great tool for filing Forms 1099s
• If you need information on providing donor receipts, then IRS Pub 1771 is a good tool
• WA states independent contractor testing