Most transactions are posted automatically through the accounts payable and accounts receivable modules of the general ledger software owned by the not-for-profit.
The Tax Cuts and Jobs Act of 2017 added a 21 percent excise tax on tax-exempt organizations, including associations, that pay what the law defines as “excess tax-exempt organization executive compe
Managing a nonprofit organization’s overhead (management and general) expenses is just as important as managing program and fundraising expenses. Most nonprofits would not dispute this statement.
