Navigating IRS Form 990 and Illinois Nonprofit Regulations
Form 990: More Than a Tax Filing Many boards treat Form 990 as a routine federal filing. In reality, it’s a public document that reflects your organization’s governance, financial practices, and credibility. Form 990 is reviewed by: It communicates: A technically correct but incomplete or inconsistent Form 990 can still raise questions. When boards recognize […]
When Revenue Gets Complicated: Making Sense of Grants, Donations, and ASC 958
Why Revenue Recognition Feels Harder Than It Should Revenue feels simple—until timing and conditions enter the picture. Grants and donations rarely arrive without context. Some support future programs. Some depend on milestones. Some restrict how or when funds can be used. The key question becomes: Is this revenue now, or later? As organizations grow, these […]
Weak Internal Controls in Nonprofits: Fraud Risk and Prevention
Why Weak Internal Controls Develop in Nonprofits Internal control gaps usually grow from practical decisions, not negligence. Common contributing factors include: In small organizations, combining duties may feel efficient. As revenue and operations expand, those same structures increase fraud risk and error exposure. What Are Internal Controls in a Nonprofit? Internal controls are policies and […]
Outdated Accounting Systems: When Familiar Tools Start Holding You Back
Why Outdated Systems Stick Around Most nonprofits do not intentionally choose outdated accounting systems. They keep them because they feel reliable. The staff know where everything lives. Reports look familiar—even if they take effort to prepare. Budget considerations often play a role. Upgrades can feel optional compared to program costs. Instead of replacing the system, […]