PKF O'Connor Davies Value Series

State charitable registration and periodic filings enhance fiscal transparency. They provide useful information to the public, funders, the State Attorney General to assist with regulatory and law enforcement efforts, and to other interested persons. Currently, over 40 states require nonprofit organizations to register prior to fundraising. Fundraising regulations are complex and vary from state to state.  In this podcast, the speakers will address why fundraising regulations are in place, the general fundraising registration and annual filing process, what steps a nonprofit organization should take to be in compliance, and so much more.

The Employee Retention Credit (ERC) is a potentially lucrative federal government tax credit for non-profit organizations. However, there are many misconceptions surrounding the ERC:Who qualifies? How to determine the credit.How it interacts with other government funding. This podcast helps set the record straight, with valuable information provided by Chris Migliaccio, Partner and the Firm's Employee Retention Credit Leader and Kristin Anderson, Senior Manager, as they discuss with Lenore Sanchez the key issues for exempt organizations in determining qualification for and claiming the ERC.

Nonprofit organizations that develop and execute Diversity, Equity and Inclusion (DEI) policies can strengthen their internal operations and culture along with the quality of life in the communities they serve. Even if your organization already has an official DEI policy, you’ll benefit from this opportunity to discover the valuable information provided by Truphena Martin, our Diversity, Equity and Inclusion Manager, as she discusses with Senior Manager Lenore Sanchez the steps involved in forming and implementing a DEI policy. They will also describe the importance of examining the policy periodically, refining it as needed, as well as monitoring, measuring and quantifying key benchmarks to assess its effectiveness. 

A Board’s review of IRS Form 990 is a best practice to help ensure fulfillment of the Board’s fiduciary responsibilities.  Studies show that tax-exempt organizations that have an established Board review process are more likely to be in compliance with tax laws and regulations. What’s more, Board and management involvement traditionally results in greater transparency, accountability and promotes the proper stewardship of resources. With Form 990 available to the general public, it is important that the Board ensures the organization’s mission and activities are accurately reflected. The presenters in this podcast speak to significant areas of the Form 990 that the Board and management should focus on. These areas are categorized into three broad areas: governance, tax compliance and financial management.

We invite you to listen and learn about organizational Environmental, Social and Governance (ESG) policy and why it is important to your nonprofit.   Not-for-profit organizations are facing a growing demand from their stakeholders to disclose their ESG initiatives and performance and on reporting them quickly and accurately. The pressures are coming from donors, employees and the Board of Directors. ESG reporting demonstrates how an organization portrays their ESG goals, metrics and progress; however, many organizations do not know where to start. Communicating ESG information is important to the internal and external stakeholders of the organization, including donors.  The challenges can be overwhelming for many organizations. This 11-minute podcast covers various ESG frameworks, risk management, best practices and current trends in the nonprofit industry that should encourage your organization to get started on establishing ESG goals and monitoring results.

We invite you to listen and learn about fiscal sponsorship arrangements and the options available sponsoring Internal Revenue Code section 501(c)(3) organizations as well as to sponsored projects and sponsee organizations.   In a fiscal sponsorship arrangement, a not-for-profit exempt organization supports and protects another group, the sponsored partner, and shares its mission to raise funds and awareness in a charitable cause. Fiscal sponsorship continues to become a more widely used tool for charitable impact; however, at times this option is still overlooked. This podcast covers the basics, including the six models of fiscal sponsorships, who the users are, the benefits, risks and key practices to help ensure that fiscal sponsorship arrangements are appropriately structured. 

Understanding the activities that may put a charitable organization at risk is paramount to protecting and maintaining tax-exempt status under Internal Revenue Code 501(c)(3). In this podcast, the second of the series, Garrett Higgins and Eva Mruk answer Lenore Sanchez’s specific questions regarding: private inurement and private benefit, lobbying and political campaign activities, commercialization of activities (UBI), compliance with annual tax filings, practices to avoid revocation, and more.Listen to their answers carefully and beware of these risky activities. As the panel moderator says: tax-exempt status is a privilege, not a right. Ensure that it is protected and maintained.

This inaugural podcast covers the topic of “International Activities” conducted by nonprofits and their global outreach through programs, grant-making, and investing.  Lenore C. Sanchez, Manager, Not-for-Profits hosts the podcast with  Garrett Higgins, Partner-in-Charge and Eva Mruk, Partner of Exempt Organizations Tax and Advisory Services providing valuable insight.  The presenters provide practical guidance on the complex rules and discuss a number of tax considerations when conducting activities outside of the United States.

Recognizing how critical cybersecurity is to our clients, this podcast features an informative discussion on some complex digital issues. Given the important responsibilities of the board members we serve, this topic is of particular importance. This 15-minute podcast covers a range of subjects, including in-house vs. outsourced CISO (Chief Information Security Officer), funding, privacy laws, the need to develop a privacy policy, understanding and managing related risks knowing that oversight must be continuous. 

Is your board controlling risk? Does your organization need a pulse check? Board members and management of not-for-profits are invited to listen to the new podcast hosted by Mark Bednarz and Larry Baye of PKF O’Connor Davies. It just might help your NFP – through your specific actions – mitigate risk concerns and ensure organizational sustainability.  Among other helpful advice, Larry lets you know about evaluating your “bench strength” and Mark offers practical ways to realize your “game plan” through risk oversight.

The subject of ethics and compliance is serious stuff and encompasses every type of organization. Mark Bednarz, Partner-in-Charge of our Risk Advisory Practice, sits down with Dr. Leann Platenburg, an independent ethics counselor, for an information-packed conversation as to the seven steps for the development of a meaningful and impactful ethics and compliance program. Listen to this nine-minute podcast focusing on the goal of avoiding reputational damage, lack of competitive advantage, and ‒ yes ‒ federal fines.

Thinking of changing property management companies for your housing entity? Stew Grubman, the Partner-in-Charge of the Bethesda office, shares some good advice based on his extensive experience in affordable and special needs housing. What accounting and other factors need to be addressed with such a change so that the transition runs smoothly? He will give you a number of points that need to be considered beforehand. You need a plan and Stew is there for you.

Mark Bednarz, Partner in our Risk Advisory Group, discusses with Jeffrey Haas, Professor, New York Law School, the duty of a board director as well as the matter of personal liability. Whether for a private or publicly-held entity, a director broadly has a “duty of care” as a corporate fiduciary. Professor Haas speaks to the transparency of business connections on matters brought before the board and acceptable ways to achieve that goal. This short podcast is packed with useful information for professional personnel at all levels and is presented in an engaging tone.