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Recently Published
Alerts
- New proposed electronic deposit mandates for most federal business taxes effective January 1, 2011.
- Illinois EFT deposit requirements effective October 1, 2010
- Illinois Tax Amnesty
Articles
- 加快并购美国公司的步伐
- IVCA Profile Q&A: Mark J. Blumenthal, Partner at Blackman Kallick
- Excess Capacity - Tax Advantage or Disadvantage?
Business Surveys
- Survey of Chicago Area Business Leaders, September 2009
- Survey of Advisors to Family-Owned Businesses
- Survey of Chicago Area Business Leaders, February 2009
Construction Edge
- Managing Indirect Costs Calls for a Keen Eye ... and a Plan
- An Escalation Clause Can Help Curtail Materials Cost Woes
- Four Ways Dishonest Employees Can Steal Your Money
Insurance Edge
- Senator Dodd's Financial Reform Bill Includes Provisions for Regulation of Reinsurance and Surplus Lines
- Preparing Your Organization for Risk, Threats and Opportunities: The Importance of Enterprise-Wide Risk Management (ERM) Education
- Benefits of Membership in the Federal Home Loan Bank System
Legal Talent
- Varying Rates for Contract Attorneys: Caveat Emptor!
- Top 10 Reasons to Hire Temporary Help in a Down Economy
- Five Organizational Tips for Staffing a Document Review Project
Manufacturing Edge
- Lean, Six Sigma and ERP - Working Together
- How Much Is Your Business Worth?
- Capital Spending: Treat It Like An Investment, Because It Is
Not-for-Profit Edge
- Effective Dashboards for Not-for-Profit Boards
- Nonprofits Need Innovative Thinking to Survive the “New Normal”
- Online Donation Portals Ease Contributions, Receipt Process
Articles with the keyword "not-for-profit"
25 result(s) displayed (1 - 25 of 55):
Not-for-Profit Webinar: Practical Strategies for Addressing UBIT and Executive Compensation
Date: Wednesday, September 29, 2010Time: 11:00am CT1 hour of CPE credit will be given.Register here.Not-for-Profit organizations have traditionally experienced a reduced level of scrutiny by the IRS relative to for-profit companies; that is changing. As the IRS continues to search…
Is the Nonprofit Boom Right for Your Business?
From OpenForum.com.Can you see it? Right now, big things are changing in the landscape of the business world. Both large businesses and small businesses are changing their entire business structure and marketing efforts around one simple idea:They're becoming nonprofits.Instead of…
IRS extends filing deadline for small charities to Oct. 15
From USAToday.com.The IRS will provide a reprieve for thousands of non-profit soup kitchens, amateur sports leagues and veterans organizations that missed a May 17 deadline to file an annual return with the government or lose their tax-exempt status.The IRS new…
Small businesses, charities face more reporting rules
From USAToday.comA little-known provision in the health care reform law could significantly increase tax recordkeeping requirements and costs for nearly 40 million self-employed workers, small businesses and charities, the IRS' national taxpayer advocate said Wednesday.Starting in 2012, self-employed workers, small…
Governance Check Sheet Required for Audits of Exempt Organizations
Not-for-Profit partner, Brian Whitlock, recently spoke at the Chicago-Kent College of Law Conference on Not-for-Profit Organizations. (Click here to download the conference brochure.)During the conference, Fred Kluss, Group Manager, Tax Exempt/Government Entities for the IRS stated that IRS agents are…
Blackman Hosts Not-for-Profit Client Workshop
On Tuesday, May 25, Blackman Kallick hosted the first in a series of Not-for-Profit Client Breakfast Workshops designed to provide in-depth, hands-on assistance with pressing accounting issues facing not-for-profit organizations. Topics covered were: Fair Value Measurements and Disclosures for Entities…
Amid Red Ink, Tax-Exempts Asked To Add To Coffers
From NPR.orgState and local governments, eager to close their budget gaps, are increasingly going after charities and other tax-exempt groups. Government officials are proposing new fees on nonprofits to help pay for services. They're also challenging the exemptions these groups…
Clifford B. Shapiro Promoted to Partner in the Not-for-Profit Practice
Join us in congratulating Cliff Shapiro on becoming a Partner in Blackman Kallick's Not-for-Profit practice. His leadership, extensive experience and hands-on dedication to his clients has directly contributed to the significant growth and specialization of our Not-for-Profit group.***Cliff is an…
Blackman Sponsors Chicago Botanic Garden's Antiques & Garden Fair
From abc7chicago.com.This popular event is celebrating its 10th year in 2010.The Chicago Botanic Garden is pleased to announce that the Antiques & Garden Fair, its signature spring event, will be returning for a tenth year. The Fair, which runs from…
Changes to 2009 Form 990
For calendar year 2008 (and fiscal year 2009) nonprofit organizations, the IRS unveiled a completely new Form 990. The new form included an 11-page “core” form and 16 schedules. The core form was applicable to all eligible filers, while the…
IRS Exams of Trade Associations Planned
An IRS official recently stated that the IRS will be initiating 650 examinations of 501(c)(5) and 501(c)(6) organizations. The IRS official indicated that the exams would cover all 501(c)(6) organizations, but would be limited to only 501(c)(5) agricultural organizations. The…
Blackman Sponsors 2010 C4 Miles Run/Walk: Making Strides for Mental Health
Register today for the 2010 C4 Miles Run/Walk: Making Strides for Mental Health, taking place Sunday May 2nd. Blackman is proud to sponsor this event.C4 Miles is one of the very few such races for mental health in Chicagoland. Not…
States Move to Revoke Charities’ Tax Exemptions
From nytimes.com.Faced with steep declines in tax revenue, an increasing number of states and localities are considering eliminating various tax exemptions for nonprofit groups.A bill before the Hawaii Legislature, for instance, would require charities to pay a 1 percent tax,…
Effective Dashboards for Not-for-Profit Boards
If you have ever attended a board meeting, you have likely seen your fair share of those big three-ring binder “board books” which contain all the information needed for the meeting. The volume of financial information that the board is…
IRS Issues 2009 Form 990; Explains Significant Changes
From the Journal of Accountancy. The IRS has issued final 2009 versions of Forms 990 and 990-EZ, as well as their instructions. The IRS has also provided a detailed explanation of significant changes to the forms.Form 990, Return of Organization…
Nonprofits Need Innovative Thinking to Survive the “New Normal”
With 2009 in the rear-view mirror and the economy showing some signs of recovery, many charitable organizations are not doing enough to weather what is expected to be a tough 2010. Too much complacency: that is the consensus Ian Wilhelm…
Burns Named 2009 'Woman to Watch' by Illinois CPA Society
Genevieve Burns, Partner in Charge of Blackman's Not-For-Profit Practice has been named one of the Illinois CPA Society's 2009 'Women to Watch.' The Illinois CPA Society's Women's Executive Committee, American Institute of Certified Public Accountants Work/Life and Women's Initiative Executive…
Private Foundation Tax Planning Update
As year-end approaches, it is a good time to evaluate your Foundation’s position with regard to the Section 4940 excise tax on investment income. The Section 4940 tax is typically applied at a rate of 2% of investment income. Investment…
Lowenthal Speaks on Tax Development for Charitible Organizations
Blackman Kallick Senior Manager, David Lowenthal, presents to the Professional Advisory Committee of the Jewish United Fund on new tax developments for charitible organizations including private foundations, supporting organizations and donor advised funds on October 19. The meeting is located…
Recovery Act Recipients: Understand Your Record-Keeping and Reporting Obligations
The American Recovery and Reinvestment Act of 2009 (ARRA) is capturing news headlines around the country. Approximately $300 billion of additional federal funds are being passed down from federal agencies to entities that are generally subject to single audits. ARRA…
Illinois Enacts Uniform Prudent Management of Institutional Funds Act on June 30, 2009
The Uniform Prudent Management of Institutional Funds Act (UPMIFA) was signed by Governor Pat Quinn on June 30, 2009 and is effective immediately.UPMIFA replaces the Uniform Management of Institutional Funds Act (UMIFA) approved in 1972. UMIFA provides uniform, fundamental rules…
FAS 157: New Reporting Requirements for Employee Benefit Plan Investments
In September 2006, the Financial Accounting Standards Board (FASB) released Statement No. 157, "Fair Value Measurements" (FAS 157), which defines fair value, establishes a framework for measuring fair value and expands financial disclosures about fair value measurements. FAS 157 is…
Whitlock to Speak at Chicago-Kent College of Law Conference on Not-for-Profit Organizations
It's off the drawing board and into practice! May 15, 2009, was the initial due date for not-for-profit organizations with 2008 calendar year-ends. Join Brian Whitlock as he presents "New IRS Form 990" at the 28th annual Chicago–Kent College of…
Save on Taxes: Convert Your Private Foundation to a Donor-Advised Fund
A Donor-Advised Fund (DAF) is one solution for an individual who established a private foundation, but has been overburdened by administrative costs and tasks. In Blackman Kallick's experience, private foundations with less than $2 million of assets can sometimes achieve…
FAS 124: Guidance on How to Report Gains/Losses on Endowments
The ongoing credit and liquidity crisis in the United States and throughout the global financial system has resulted in substantial volatility in financial markets and the banking system. These and other economic events have had a significant adverse impact on…
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