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Charities Filing Changes . . . New Hire Act . . . . . . Small Biz Health Care Tax Credits . . .
Why the IRS won't email you! . . . Information
Packed CFO Consultations . . . Fundraising Gem: Got Books?
A "flurry" of helpful information and resource web links brought to
you by Smith, Sullivan & Company, PC
Is your Organization Aware of the Massachusetts Attorney General's Filing Changes for Public Charities?
This past fall, changes in filing requirements for public charities and professional fundraisers and new dissolution guidelines went into effect.
In accordance with Section 2 of the Act, the annual filing fees for fiscal years ending on or after 12/31/2010 have changed to the following:
Please note that the fees change only for organizations with gross support and revenues exceeding $1 million.
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Gross Support and Revenue
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Fee
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Less than $100,000
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$35
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$100,001 to $250,000
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$70
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$250,001 to $500,000
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$125
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$500,001 to $1 million
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$250
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$1,000,001 to $10 million
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$500
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$10,000,001 to $100 million
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$1,000
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$100 million+
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$2,000
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New Hire Act - Does Your Organization Have Any Employees That Qualify?
Guidelines for the Credit
- Employee must have been hired after February 3, 2010 and before January 1, 2011.
- The credit applies only on the wages paid from March 19, 2010 through December 31, 2010.
- The employee must have worked fewer than 40 hours during the 60 days prior to beginning work, and must sign a statement to that effect.
- The employee must be an additional hire, or if the employee is a replacement, it must be replacing a voluntary termination or an employee that was terminated for cause.
- The employee must not be related to the qualified employer or anyone owning 50% or more of the stock or other capital of the employer.
Small Business Health Care Tax Credits - Is your Organization Eligible?
Eligibility Rules
- Providing health care coverage.
- A qualifying employer must cover at least 50% of the cost of health care coverage for some of its workers based on the single rate.
- Firm size. A qualifying employer must have less than the equivalent of 25 full-time workers (for example, an employer with fewer than 50 half-time workers may be eligible).
- Average annual wage. A qualifying employer must pay average annual wages below $50,000.
- Both taxable (for profit) and tax-exempt firms qualify. (35% credit for small businesses and 25% credit for tax-exempt organizations)
Phishing Scams - Be Aware - The IRS Does Not Discuss Tax Account Matters with Taxpayers by E-Mail What is phishing?
Phishing is a scam typically carried out by unsolicited e-mail and/or websites that pose as legitimate sites and lure unsuspecting victims to provide personal and financial information. All unsolicited e-mail claiming
to be from either the IRS or any other IRS-related components such as EFTPS, should be reported to phishing@irs.gov.
 What keeps you up at night?
Is your organization ready for what lies ahead? Are you running unnecessary risk? Are there untapped sources of revenue you should be investigating? What are other organizations like yours doing to optimize their finance and operations? Do you have the right staff? The right finance and accounting systems, and policies?
For more information: http://www.amsolutions.net/nonprofit/index.html
The One Day CFO Consultation from Accounting Management Solutions, Inc. is designed to be a day of open dialog and candid conversation with a nonprofit finance expert. While the format for the day is dictated by your goals and specific objectives, we provide a suggested framework to optimize the experience.
One Day CFO: $1225.
Contact: Leigh Tucker, Accounting Management Solutions, Inc. 781.419.9220 or ltucker@amsolutions.net
 Got Books? Fundraising Program
It's Free. It's Easy. It Works. Collect Books. Get Cash!
Boost your fundraising efforts with Got Books!
The Got Books fundraising idea is easy to set up and there is no cost to your organization. Got Books will place a book donation container on your behalf, people donate books, DVDs, CDs and audio books, the containers are emptied by our professional staff and your organization gets a check.
Free, Easy and Profitable.
All you need is an outdoor space the size of a parking space. The highest visibility areas yield the best results for book donations. The Got Books experts will work with you to determine the ideal placement of a book donation container at your location, at a remote location, or even multiple containers at multiple locations.
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