South Bay CPA firm looking for experienced bookkeeper to work in their office 6-8 hours daily, M-F. Needs QuickBooks experience and good accounting theory. College-level accounting courses preferable. Contact CMA via email at email@example.com.
Pacific Justice Institu
2016 Celebration of Justice:
In God We Trust
With Brian Kilmeade & Other Special Guests
This will be a festive and unforgettable evening, so mark your calendars now!
*Offers from David C Cook not necessarily endorsed by CMA.
From the President
Recently, at the direction of the President, the U.S. Department of Labor announced an update to the federal overtime regulations. The new rules affect virtually all employers (there is no specific exemption for nonprofits). The new regulations will mean that workers earning less than $47,476 per year will now generally be eligible for overtime pay. The new rules take effect December 1, 2016. To help you understand the impact of the change on your ministry, we will be researching the new regulations and providing our members with relevant information and fact sheets over the next few months. We are also working with the Evangelical Council for Financial Accountability (ECFA) to re-broadcast a special webinar on the topic that they will be hosting live on June 23, 2016. (ECFA member organizations can go to their website and register for the live event while there is still space). We anticipate having a link on our website store available to access within a few days of the event. We will notify you via email when it is up and available. In the meantime, if we can assist you in any way on this and other matters affecting your ministry, please don't hesitate to contact us.
Yours in His Service,
7 of the Most Important Things to Consider Before Joining the Board of a Nonprofit
When an organization first incorporates to begin operations one of the things it must do is establish with the Internal Revenue Service (IRS) what the fiscal year of the corporation will be. For many organizations setting the fiscal year to coincide with the calendar year (e.g. January 1 through December 31) may be the appropriate thing to do. Most churches characteristically have a fiscal year that ends on December 31st. For other organizations, such as a private school or mission's organization, (read more)
Activities that Can Risk an Organization's Tax Exempt Status
It seems like almost every year I can count on receiving one or more inquiries from a nonprofit about letting someone use their organization's tax identification number or wanting the nonprofit to serve as the "fiscal sponsor" for their activity during an interim period while they complete their own incorporation and tax exemption application process. And every time I tell them the same thing. "Your nonprofit was granted an exemption to pursue your exempt purposes only. Your exemption is not transferable to others or available to help fulfill their purposes, no matter how worthy it might be." (read more)
Exempt Organizations &
Your Employment Taxes
Tax-exempt organizations, including churches and faith-based charities, have important responsibilities as employers while operating and managing their activities. Generally, most organizations will choose to make use of one of the several payroll services, such as ADP or Paychex, to have their payroll prepaid and the taxes collected and deposited with the U.S. Treasury. However,
This information is provided with the understanding that CMA is not rendering tax, accounting, legal, or other professional advice. Professional advice on specific issues should be sought from a qualified CPA, attorney, or other professional.