Associations: Avoid certain activities to preserve tax-exempt status

Nonprofit trade associations, or 501(c)(6) organizations, exist to promote their members’ common interests and improve business conditions or “one or more lines of interest.” Whether the association is a local chamber of commerce, a real estate board or a large professional group, associations’ tax-exempt status is contingent on their sponsoring certain types of activities —… Read more »

Fiduciary duties: What your board members need to know

Not-for-profit board members — whether compensated or not — have a fiduciary duty to the organization. Some states have laws governing the activities of nonprofit boards and other fiduciaries. But not all board members are aware of their responsibilities. To protect your nonprofit’s financial health and integrity, it’s important that you help them understand. Primary… Read more »

What To Do If Your Nonprofit Receives an IRS Audit Letter

The IRS’s staffing shortages have been well publicized and audits of individuals have decreased in the past several years. But it’s a mistake to assume that the agency has stopped scrutinizing not-for-profits and conducting audits when it deems necessary. If your organization receives an audit letter, you need to know what the process involves and… Read more »

YHB Represents Community Banks in Washington, DC

In May of 2019 YHB Principals, Kim Belcher, Justin Crowder and Jesse Meadows, had the pleasure of representing community banks across the  country on a panel for the American Bankers Association (ABA). Also, on the panel were representatives from each banking regulatory agency. The panel intended to address questions and concerns related to CECL practice both from… Read more »

Three Questions to Ask Your Auditor Before Your First Benefit Plan Audit

Is your first benefit plan audit in the near future? If so, you’ll need to be prepared. Any business with employee benefit plans covered by ERISA will be subject to complex regulations and possibly an annual audit, once they have 100 eligible employees. Plan sponsors have a fiduciary responsibility to properly manage their plans. Before… Read more »

National Manufacturing Outlook Survey

With 2019 just a few months away, we are offering you the opportunity to participate in our annual YHB-LEA Global National Manufacturing Outlook Survey. This project is part of our efforts to serve you as a true strategic business advisor. Your participation will help us help you. This survey is being conducted in association with leading… Read more »