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The Benefits of Unplugging from the News

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  The Benefits of Unplugging from the News In today’s world, headlines are everywhere—on our phones, in our inboxes, and across every social media feed. While staying informed is important, constant exposure to news updates can take a toll on our mental well-being, productivity, and even our perspective on the world. Taking intentional breaks from the news cycle, often called “unplugging,” offers benefits that can help restore balance and clarity in our daily lives. 1. Reduces Stress and Anxiety News stories often focus on crises, conflicts, and emergencies—issues that naturally trigger our stress response. When we consume a steady stream of negative information, it can leave us feeling anxious or even helpless. Unplugging gives your mind a chance to breathe, lowering stress levels and helping you regain a sense of calm. 2. Improves Focus and Productivity Constant notifications and news alerts can fragment your attention. By stepping back, you free up mental space to focus on work,...
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New Fiscal Year, Now What? A Fresh Start for Your Nonprofit’s Finances

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  New Fiscal Year, Now What? A Fresh Start for Your Nonprofit’s Finances For many nonprofits, July 1 marks the start of a new fiscal year—a perfect opportunity to reflect, reset, and refocus your financial operations. Whether you're a seasoned executive director or a first-time treasurer, here are key steps your organization should take now to set the tone for a successful year ahead. 1. Close the Books on Last Year Before diving into new initiatives, be sure last year’s financials are finalized. That includes: Reconciling all accounts (bank, credit cards, grants, etc.) Reviewing all income and expense entries for accuracy Preparing reports for the board and stakeholders Archiving key financial documents If you're working with an accountant, now's the time to connect and make sure everything is wrapped up properly. 2. Kick Off with a Fresh Budget Your new budget should be more than a spreadsheet—it should be a roadmap. Review your budget in detail: Are the pr...
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The 990 Tells Your Story - Make Sure it's Accurate

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📄 Why It’s Important to Have an Accurately Prepared Form 990 For nonprofit organizations, Form 990 is more than a tax form —it's a public record of your mission, financial health, and commitment to transparency. Ensuring it is accurately prepared is not just a compliance issue; it’s a key part of responsible nonprofit management. Here’s why accuracy on Form 990 matters: ✅ 1. Stay Compliant—and Keep Your Exemption Form 990 is required by the IRS to maintain your tax-exempt status . Even if no taxes are due, nonprofits must file—and file on time. Errors or omissions can lead to penalties, audits, and in serious cases, revocation of tax-exempt status. 🧾 2. Build Public Trust Form 990s are public documents. Donors, grantmakers, journalists, and watchdog organizations all have access. An accurately prepared return demonstrates that your organization is well-run and transparent—both essential to building and keeping public trust. 💸 3. Protect and Enhance Fundraising Efforts...
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Illinois Simplifies AG990-IL Extension Process for Nonprofits

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  Streamlining Compliance: Illinois Simplifies AG990-IL Extension Process for Nonprofits Effective October 29, 2024, the Illinois Attorney General's office has implemented significant changes to the extension process for the AG990-IL, the annual report required of charitable organizations. These modifications aim to reduce administrative burdens and align state deadlines more closely with federal requirements. Understanding the Previous Extension Framework Under the former system, nonprofits were required to navigate a two-tiered extension process: Initial 60-Day Extension : Organizations had to submit a written request before the original due date, which is six months after the fiscal year-end. Additional 2.5-Month Extension : To align with the federal Form 990 extension, a second request was necessary. This included: A written extension request. A draft AG990-IL form. Financial statements (balance sheet and income statement). A $15 statutory filing fee. A copy...
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💰 Why Realistic Budgets Matter for Nonprofits

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In the nonprofit world, where every dollar counts and every mission-driven decision matters, budgeting is more than a numbers game—it’s a strategic tool that fuels impact. But too often, organizations build budgets based on optimism, wishful thinking, or simply duplicating last year’s numbers. While good intentions are at the heart of every nonprofit, those intentions need to be grounded in financial reality. Here’s why creating a realistic budget is essential for a nonprofit’s health, credibility, and sustainability: 1. 📊 Supports Strategic Decision-Making A realistic budget helps nonprofit leaders make informed decisions about programming, staffing, and growth. Without an accurate financial roadmap, it's difficult to prioritize resources or plan for the unexpected. 2. 🤝 Builds Trust with Funders and Stakeholders Funders want to see that your organization understands its financial position and manages resources responsibly. Unrealistic budgets can lead to red flags and missed o...
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Why Do So Many Nonprofits Choose June 30 as Their Fiscal Year-End?

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For many nonprofit organizations, the decision of when to end their fiscal year isn’t just a technicality—it’s a strategic move. If you’ve ever noticed that a large number of nonprofits close their books on June 30 , you're not alone. In fact, this mid-year date is one of the most common fiscal year-end choices in the nonprofit sector. But why? Here’s a look at the key reasons: 🌱 1. Alignment with Program Cycles Many nonprofits follow the academic calendar, especially those in education, youth services, and community programs. A June 30 year-end allows organizations to: Close the books after the end of school-year programs. Start fresh in July when summer and planning cycles begin. Simplify budgeting and reporting tied to school-year activities. 💸 2. Timing of Grant Funding Government and foundation grants often follow a July–June funding cycle. Closing the fiscal year on June 30 makes it easier to: Match revenue with related expenses. Report grant usage ...
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Why Volunteer-Led Nonprofits Need Professional Accounting Services

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Volunteer-led nonprofits are at the heart of many communities—driven by passion, sustained by generosity, and focused on mission over money. But even with the best intentions, managing the financial side of a nonprofit can quickly become overwhelming without the right expertise. That's where professional accounting services become not just helpful, but essential. 1. Accountability to Donors and Grantors Whether you're collecting small community donations or applying for grants, funders want to know that their money is being handled responsibly. Clear, accurate financial statements prepared by a professional accountant build credibility and trust. They show donors that your nonprofit values transparency and good stewardship—two qualities that encourage ongoing support. 2. Compliance with IRS and State Requirements Even the smallest 501(c)(3) organizations are required to file annual Form 990s and maintain proper financial records. Mistakes or omissions—common when relying on...
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