The professionals of UHY LLP offer an uncommon approach to assurance services; a refreshing combination of attitude and aptitude to help stakeholders better comprehend the financial performance of not-for-profit organizations. The primary goals of assurance services are to instill confidence among stakeholders and provide for accurate financial reporting. With our depth of resources, we can help not-for-profit organizations deal effectively with the myriad of issues facing them today.
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Thursday February 8 2018
There are many intricacies involved in administering retirement plans. The implementation of sound internal controls is necessitated by the many rules retirement plans are subject to, and by the fact that some of those rules tend to change quite frequently. Because of the complexity of those rules, mistakes (generally human errors) can occur in almost all retirement plans, even plans run by experts.
Often times what attracts a person to a nonprofit board is a shared interest or passion for the mission of an organization. Of course this is important, as a board position requires an ample amount of volunteer time. However, it is important for board members to not lose sight that they are ultimately tasked with the governance of the organization. A point that should not be taken lightly. The importance of this responsibility is demonstrated by the IRS annual Return of Organization Exempt from Income Tax (Form 990) which dedicates an entire section to governance, management and disclosure, and includes a list of all board members.
UHY LLP (“UHY”), today announced its $25,000 sponsorship of the Double H Ranch. Based in Lake Luzerne, New York, The Double H Ranch is a philanthropic program with global reach that serves over 60,000 children dealing with life-threatening illnesses. The goal of this sponsorship program is to create more awareness, donations and volunteer support for the ongoing “Mission Awareness” campaign for the Double H Ranch, which is just one hour north of UHY’s Albany, NY office.
Recent court decisions and the Internal Revenue Service (IRS) Chief Counsel Memorandum (CCM) reinforce the need to keep accurate records and adequately disclose all charitable contributions as well as gifts made to others.