Nonprofits: Here’s how to embrace accountability

To protect the organization, demonstrate openness and support the greater good, your not-for-profit needs to embrace accountability. Doing so will also help you fulfill your fiduciary responsibilities to donors, constituents and the public. Fairness and clarity Accountability starts by complying with all applicable laws and rules. As you carry out your organization’s initiatives, do so […]

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Compensating nonprofit board members

Contrary to popular belief, it’s usually perfectly legal to compensate not-for-profit board members — and sometimes it might even be necessary. But is it right for your organization? Pros and cons Board member compensation comes with several pros and cons to consider. Your organization might, for example, find it worthwhile to offer compensation to attract […]

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How to reduce the tax risk of using independent contractors

Classifying a worker as an independent contractor frees a business from payroll tax liability and allows it to forgo providing overtime pay, unemployment compensation and other employee benefits. It also frees the business from responsibility for withholding income taxes and the worker’s share of payroll taxes. For these reasons, the federal government views misclassifying a […]

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