Cherry Bekaert: Not-for-Profit Industry Guidance

Not-for-profits (NFP) across the country often struggle with their accounting processes due to outdated software, spreadsheets and manual data entry. Sage Intacct, a cloud-based platform, can simplify accounting processes so not-for-profits can focus on the business of helping others. In this episode of our NFP podcast series, we hear about the power of Sage Intacct from Kristen Jenei, Managing Director at Cherry Bekaert, and Hina Babar, a Director at Cherry Bekaert.Tune in to learn how ...

On campuses around the country, the name, image and likeness (NIL) policy is revolutionizing the way student-athletes can obtain benefits while attending a college or university. As of July 2021, student-athletes can enter NIL deals if they comply with state law and the NCAA’s rules. Essentially, NIL allows college athletes to monetize their personal brand by profiting from their name, image and likeness through various opportunities such as endorsements, sponsorships, social media posts and ...

Section 179D Energy-Efficient Commercial Buildings Deduction (section 179D) is an energy tax deduction created to incentivize the adoption of clean solutions in commercial buildings. Originally intended for the commercial industry, not-for-profit organizations are now able to take advantage of this notable tax deduction if they invest in energy-efficient improvements. Since not-for-profits are tax-exempt, they can allocate the energy tax incentive to a taxpaying entity working on the structur...

The Inflation Reduction Act of 2022 (IRA) opened the direct pay program for not-for-profit or tax-exempt organizations to qualify for energy tax credits if they were investing in clean energy solutions. Before the IRA, there were clean energy tax credits available to tax-paying entities to take advantage of, but tax-exempt organizations couldn’t reap any benefits when choosing to invest in energy enhancements. The Internal Revenue Service (IRS) often releases new guidance on energy tax credit...

Nonprofit organizations, from social services to trade associations and charter schools, play an essential role in supporting our communities. But these organizations often[HR1] face several challenges and restrictions when it comes to fulfilling their missions. Throughout [HR2] 2024, not-for-profit (NFP) organizations will have many opportunities to increase impact and streamline operations. Matthew Socha, Not-for-Profit Practice Leader, hosted John Fedus, Partner, and Amelia Craw...

Cyber breaches like the recent Blackbaud data security incident remind us that no one is out of reach of cybercriminals. In our newest Not-for-Profit webinar, join Matthew Socha, Partner and Industry Leader of the Firm’s Not-for-Profit practice, and Steve Ursillo, Partner and Leader of the Firm’s Information Assurance & Cybersecurity practice, for a discussion on Blackbaud’s response, next steps for organizations impacted by the breach and an overview of the most common cyber control defi...