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During this down economy, the donation of goods and services are getting more attention as many households turn to such gifts as an alternative means of providing support for various causes. Some nonprofit organizations, however, rely on such gifts as a routine part of their contribution activities.

In an increasingly competitive nonprofit world vying for fewer resources, an organization’s survival and sustainability is largely dependent on its capacity for short and long-term strategic financial decision making. It is this capacity that determines the success of decisions organizations make in response to external and internal stimuli. In today’s environment, organizations tend to fall into one of three categories regarding these stimuli:

When most of us first think about tax, we tend to focus on federal requirements as being of foremost importance.  While federal rules are extremely important for the nonprofit organization, state tax compliance is actually a much wider universe covering a very large body of rules.  With the current unprecedented budget shortfalls that states are experiencing, most states are stepping up enforcement efforts.  Not paying attention to state tax authorities can be a very expensive mistake.