‘Tax exemption’ Versus ‘tax deductible’

The terms ‘tax exemption’ and ‘tax deductible’ are not one and the same. ‘Tax-exempt’ implies that organization doesn’t have to pay taxes on its income.’Tax deductible’ means that a donor can claim tax deductions in his federal income… Read More

How to Form a Cooperative: Steps Involved

Cooperatives are normally formed as corporations under respective state cooperative laws. The process of forming a cooperative is very similar to the process of incorporation. Like corporations, cooperatives are formed on organizing documents (articles) and governed by adopted… Read More

What are Cooperatives ? Meaning & Scope

A cooperative is defined as a group of interested members who get together to work and achieve a common goal helping each other in the process. These members may be individuals or group entities like businesses. Cooperatives are… Read More

Valuation of Non-Cash Donation (in-kind)

Valuation of in-kind or non-cash donation is a tricky and complex issue faced by many nonprofit organizations. Many a times, a donor would like to inflate the value of in-kind donation made to your organization for getting higher… Read More

Non Profit Accounting for Dummies

Critical review of  Non Profit Accounting for Dummies Accounting and proper book keeping plays an important role in any nonprofit organization. Like any for profit organization, a nonprofit organization is subject to evaluation and monitoring by a large… Read More