There have been numerous discussions about the economic pros and cons of a phased-in $15 wage floor but not that many around the practical application, so I thought I’d share a recent situation I encountered. Background: On January 1, 2017, the minimum wage in California increased to $10.50 per hour for employers with 26 employees or more (a large employer). Questio [...]

In our previous blog, No Strings Attached, we discussed the importance of unrestricted general operating support from grant makers. However, general operating support may not be the best – or only way – to assist every grantee organization. Instead of, or in addition to a grant, program-related investment (PRI) sometimes makes sense. If you haven’t ventured into prog [...]

By: Christian Tom What laws govern the ownership of artistic work? There have been numerous cases brought to court in the past few decades regarding the subject of legal title of artwork. One of the most famous and public cases was the Republic of Austria v. Altmann, in which the plaintiff, Maria Altmann, argued that five paintings, painted by Austrian artist, Gustav [...]

On August 3, 2017, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to clarify and improve the scope and accounting guidance for contributions received and contributions made, primarily as it relates to not-for-profit entities (NFPs). The proposed ASU covers two significant topics: Helps organizations decid [...]

Excerpt from the GHJ Nonprofit Whitepaper, The Give and The Get: The Future of Philanthropy. Most important is to have the right board make-up. A successful board needs wide diversity of skills among its members, both in their backgrounds and in their experience. This variety will enable a more thorough thought process and promote healthy discussion. The result is an [...]

By Richard Ruvelson The California New Jobs Credit, initially effective for taxable years beginning after January 1, 2009 remains in effect and is available to tax-exempt employers with 20 or fewer employees. The $3,000 per qualified new employee credit is determined by comparing the number of qualified full-time employees for the taxable year being reported with th [...]

I thought I’d share some key takeaways from a recent presentation I attended on the Patient Protection and Affordable Care Act. Most organizations have not… Determined the expected financial impact of health care reform Modeled scenarios to determine the cost-benefit of offering or not offering benefits to employees Thought about the “look back” period and how to [...]

By: Richard Ruvelson Many tax-exempt organizations are not aware of the fact that they may be entitled to claim credits for excise taxes paid for certain on-road and off-road vehicle use. For federal purposes, gasoline and aviation gasoline purchases may qualify for the credit. Ultimate purchasers of gasoline for uses including the following qualify: Off-highway bu [...]

By: Richard Ruvelson Former Commissioner of Internal Revenue Mark Everson met with a group of GHJ clients and tax personnel on Wednesday August 7, 2013. Everson currently serves as the Vice Chairman of alliantgroup, a national tax consulting firm that works closely with businesses and accounting firms with respect to federal and state tax credits and incentives, as w [...]

By: Richard Ruvelson (principal at GHJ) For those who were able to attend the GHJ Annual Nonprofit Accounting and Tax Update Workshop last week, you heard me talk about the Form 990, as well as other developments, and received a copy of this blog in your folder. For anyone who wasn’t able to attend the workshop, be sure to read below for a quick refresher. The Cente [...]