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Discovering The Tax Implications of Nonprofits Owning For-Profit Businesses

The Charity CFO

Joint Ventures and Tax Implications Many nonprofits partner with for-profit entities to help advance their mission with the financial backing of their partner. For example, a mental health organization might create a joint venture with a for-profit healthcare system to establish mental health facilities in underserved areas.

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Best Practices when Accounting for Grants

The Charity CFO

But in order to get the most out of these grants, you need to understand how to properly manage and account for them. The IRS has strict regulations on how to handle grants and charitable contributions, so it is essential that you understand the best practices when accounting for them. Conduct regular audits.