Certain organizations, such as churches, government entities, and community chests, are exempt from taxation. They must apply for exempt status and file information returns despite no tax liabilities.
Fund Accounting is a system used by nonprofit organizations, focusing on accountability over profitability. It ensures proper stewardship of financial resources in compliance with legal requirements.
NBER, based in Cambridge, Massachusetts, is a private, nonprofit organization dedicated to impartial economic research for policymakers, business professionals, and academia.
The Service Corps of Retired Executives (SCORE), now known as SCORE, is a nonprofit organization dedicated to mentoring small business owners and entrepreneurs in the United States.
A comprehensive explanation of the 457 plan, a tax-advantaged retirement savings account available to employees of government and nonprofit organizations. Learn about its features, benefits, and how it compares to other retirement plans.
An in-depth exploration of 501(c) organizations, their tax-exempt status, various types, and real-world examples to illustrate their purpose and function.
The National Association of Insurance Commissioners (NAIC) is a nonprofit organization that assists in the development of model laws for state insurance regulators. This article provides an in-depth look at NAIC's role, history, functions, and significance in the insurance industry.
The National Association of State Boards of Accountancy (NASBA) is a nonprofit organization dedicated to enhancing the effectiveness of state boards of accountancy in upholding and promoting high professional standards.
Our mission is to empower you with the tools and knowledge you need to make informed decisions, understand intricate financial concepts, and stay ahead in an ever-evolving market.