Nonprofit Advisor

At Windes, we are fortunate to have a large nonprofit audit practice that provides services to over 100 organizations. As our nonprofit audit busy season comes to a close, we thought it would be helpful to summarize some common issues and questions that we encounter. What are the keys to having a smooth audit? We […]

The IRS has announced cost of living adjustments (COLA) applicable to qualified plans along with the issues on which they will be focusing in plan examinations during the coming year. The limit on elective deferrals to both 401(k), 403(b), and 457 plans will increase from $18,500 to $19,000. Catch-up contributions will remain limited to $6,000. The […]

The 2017 Tax Cuts and Jobs Act (TCJA) established § 512(a)(6), which requires any exempt organization with more than one unrelated trade or business to calculate unrelated business taxable income (UBTI) separately with respect to each such trade or business. In enacting § 512(a)(6), Congress did not provide criteria for determining how to identify separate […]

In our large nonprofit audit and tax practice, we have the opportunity to interact with all types and sizes of boards of directors overseeing the operations of our clients. We sometimes are asked to comment about best practices for boards based on what we see in the sector and we thought it might be a […]

A recent survey of 250 nonprofit plan sponsors by the Plan Sponsor Council of America (PSCA) revealed that many sponsors are unaware of the how their plans are structured with respect to fees, which could leave them open to fiduciary liability. The key findings of the survey are as follows: One-third of respondents are unsure […]