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.
A key component of all audited and reviewed financial statements are the footnotes. It is in the footnotes that key transactions are explained and other important information is disclosed.
