Our News page contains updates and news we feel
could be valuable to your Non-Profit organization.
Affordable Housing Developers May Benefit from Opportunity Zone Tax Break
investors can defer or eliminate capital gains taxes by investing in opportunity zones or opportunity zone funds, and affordable housing projects can be good qualifying investments
Federal Micro Purchase Limit Has Been Increased
Organizations that receive and spend federal funds have fewer requirements for micro purchases, and the micro purchase limit has increased
Affordable Housing-Paying for Your Section 168(h) Election
There are ways to minimize Unrelated Business Income resulting from a 168(h) election. Learn More.
Changes in Your Legal Form
An IRS rule change allows nonprofits to keep their exempt status when they change their legal entity. Learn more.
Charter School Audits-What to Expect From a New York State Comptroller Audit
Charter schools are always subject to scrutiny because they draw money from public schools in the district. Learn more.
New IRS Search Engine for Eligible Charities
IRS has a new way to search for eligible charities. Lear More.
Nonprofits Check Your Website … IRS Will
If IRS is performing or contemplating an audit of a nonprofit, they generally look at the nonprofits website for indicators of unrelated business or improper activities. Learn more.
The Other Public Support Test – the 10% Facts and Circumstances Test
If you fail the traditional public support test you can still qualify as a publicly supported
charity if you qualify under the 10% Facts and Circumstances Test. Learn more here.
Workplace for Good: Facebook’s Free Enterprise Collaboration Tool for Nonprofits
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INSIDE THIS ISSUE:
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The 10% De Minimis Indirect Cost Rate-Not All It’s Cracked up to Be
Learn more about the 20% de minimus indirect cost rate, how it applies and what reimbursement you're entitled to.
Workers Compensation and Unemployment Guidance for NYS Charities
the document contains information about New York State workers compensation and unemployment for charities
When is Real Property Rental an Unrelated Business Activity?
This document contains rules and exceptions for when nonprofit rental income is subject to unrelated business income tax
Uniform Guidance-Payroll Documentation
this document contains a summary of the new rules for documenting payroll allocation by nonprofits that receive federal awards
Sub-Recipient Monitoring
if you receive federal awards and pass them through to other organizations, you need to determine whether those organizations are sub- recipients. If they are, Uniform Guidance requires you to monitor the use of those pass through funds.
Reducing the Possibility of Fraud in Your Nonprofit
this document contains information about resources for reducing fraud in nonprofits
Purchasing Policies for Nonprofits That Are Not Required to Have Federally Compliant Purchasing Policies
If you aren't required to have a federally compliant purchasing policy, you might benefit from some of the wisdom and best practices required for these policies.
Grantmaking and Grant Monitoring by Charities Grants to Foreign Charities
this document contains information about procedures US charities should follow when they provide grants to overseas charities or carry-on programs outside the US
Contact Us
Heveron & Company CPAs, PLLC
260 Plymouth Avenue South
Rochester, NY 14608
Telephone: (585) 232-2956
Fax: (585) 423-0599
Email: mail@heveroncpa.com