The Bottom Line
The Bottom Line is where Klatzkin’s advisors provide analysis and insight into key developments in taxation, accounting, and other issues and how they affect businesses and individual taxpayers.

What Every Nonprofit Should Know About Donor Acknowledgment Letters

By ROBERT J. GAFFNEY

Each year, approximately $300B is donated to nonprofit organizations in the United States. Since these contributions can be taken as deductions on individual tax returns, it is no wonder that the IRS has enacted some reporting standards for the acknowledgment of these contributions.

Financial Uncertainty Top Issue Facing New Jersey Nonprofits

By MICHELLE S. MARTIN

The passion for serving others is what drives most New Jersey nonprofit boards, leaders, and team members. Whether delivering social services to at-risk youth, career transition education for the unemployed, or providing food and shelter to the homeless, almost every community has a need to be filled.

Fraud: Is Your Independent School Safe?

By CHRISTOPHER S. MAYNARD

Fraud can happen anywhere, and administrators in independent schools are often unaware that it is happening because they are not looking for it. Some common types of fraud committed in schools include, but are not limited to, conspiring with outside vendors to provide kickbacks, misuse of school-issued credit cards, and theft of equipment and other property.

The Language of Endowment Funds for Independent Schools

By CHRISTOPHER S. MAYNARD

Independent schools (K-12) face many of the same challenges as private colleges and universities in the U.S. including declining or flat enrollments, increasing tuition costs, and escalating operating costs. As a result, fundraising and endowment management are increasingly more important for independent schools to attract and retain students.

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