News & Blog
Webinar: Navigating Nonprofit Rules for Political Activity
With the 2024 presidential election heating up, nonprofit organizations that participate in political activity need to ensure they understand and follow all rules regarding political activity and lobbying. It’s an election year, which means increased political activity. As always, it’s critical for nonprofits to properly follow the rules around political activity and lobbying. To provide…
3 Things to Know When Creating a Reserves Plan
Preparing for the unexpected is a given in the nonprofit sector. Because nonprofit leaders know that their organization’s financial status can change relatively quickly, especially if a major funder discontinues support. A 2023 study of nonprofit financial health uncovered the troubling reality that many nonprofits face: In 2022, there was a 10% decrease in donor…
Navigating compliance as a 501(c)(4) tax-exempt organization
Here’s a helpful guide for these organizations, especially when it comes to political activity and lobbying. Nonprofit leaders understand all too well that they have a profound duty when it comes to legal and ethical oversight of their organization’s activities. Congress’s chief tax-writing arm, the Committee on Ways and Means, recently announced it was evaluating…
Han Group Joins Prestigious International Accounting Association LEA Global
As a firm built on collective expertise and a passion for empowering nonprofits, we’re thrilled to be part of LEA Global’s mission of enabling members to achieve more together. We are excited to announce that Han Group has recently been accepted into LEA Global, a professional association connecting over 140 of the world’s top accounting…
It’s about to get easier to communicate with the IRS. Here’s why.
The IRS’s new fiscal year guidance plan lays out strategic goals that aim to improve efficiency, communication, and customer experience. By Han Group The IRS’s new fiscal year guidance plan is focused on improving the taxpayer experience and interaction with the agency, said Deep Master, a Tax Manager at Han Group who helps nonprofit clients…
Trends in funding and donor flexibility signal opportunity for nonprofits in 2024
Nonprofits are built for moments of difficulty. While the impact of the pandemic, inflation, and revolutions in the labor market, to name a few challenges from recent years, have presented difficulties for many organizations, nonprofits are built for—and often built in response to—difficult times. Recent challenges may have even sparked positive changes that are beneficial…
New Rules Increase Accountability for Supporting Organizations
New Treasury rules tighten oversight of supporting nonprofits — organizations designed specifically to provide support to a public charity. Here are five ways these rules may affect the relationship between supporting and supported organizations. The Treasury Department recently issued new guidance to ensure that supporting organizations are serving the interests of their affiliated public charities.…
Navigating Nonprofit Audits: 5 Simple Lessons
The key to a smooth audit starts with a year-round approach to planning. Taking stock at the end of a year is an important way for a nonprofit to track its successes and highlight opportunities for growth. An organization might track how many people it served or how many new volunteers it engaged. It might…
Does Your 990 Tell a Story? It Should.
There’s hidden potential in your nonprofit’s annual tax form. If you work for a nonprofit, you may have played a role in filling out Form 990, an annual reporting document that most tax-exempt organizations must file with the IRS. Properly filing a 990 is essential to keeping a nonprofit’s tax-exempt status, and failure to do…
Public Accounting’s True Potential
There’s a CPA shortage stemming, in part, from a misperception that accountants perform monotonous, boring tasks. But those of us in the industry know how invigorating it can feel to empower our clients to achieve their missions. I’m a fan of the legal drama Suits, which follows the lives of ego-driven, well-dressed attorneys at a…
Han Group Receives Recognition as One of WBJ’s Top 50 Largest Accounting Firms
Han Group is honored to announce that we have been ranked #40 among the top 50 largest accounting firms in the Greater Washington area by the Washington Business Journal. This recognition is a testament to our team’s dedication, hard work, and commitment to excellence in the public accounting industry. We are immensely proud of…
Dive into “Underwater Endowments” in GWSCPA’s featured article by Jan McDaid, CPA, of Han Group
McDaid’s article, published on the GWSCPA’s Nonprofit Accounting Basics website, explores the essential components of an organization’s underwater endowments such as: When is an endowment considered underwater? How are underwater endowments properly displayed on the financial statements? What additional information is required to be disclosed in the notes to the financial statements? And other key information. Check out this…
Han Group Announced as Gold Sponsor for GWSCPA 2023 Women’s Leadership Conference
We are thrilled to announce that Han Group, a leading accounting and consulting firm, is the gold sponsor for the Greater Washington Society of Certified Public Accountants’ (GWSCPA) 2023 Women’s Leadership Conference. As a gold sponsor, Han Group will play a key role in supporting the conference and promoting gender diversity and leadership in…
News Flash: Important News for Nonprofits
PPP Loan Forgiveness Deadline – Don’t Miss It! Can you skip the wait for your Bank’s PPP Loan Forgiveness process? – SBA Launches New Direct Portal for Loan Forgiveness 2nd Draw PPP – SBA Introduces COVID Revenue Reduction Score Extension of Deferral now Possible for PPP Loans in Appeals Process IRS reviewing EIN status –…
Han Group Selected as a Best Accounting Firm to Work For
We are honored to be recognized by Accounting Today as one of the “Best Firms to Work For”! This award is designed to identify, recognize and honor the best employers in the accounting profession. Read Article “The firms on this list represent the best workplaces in the accounting profession, they are outstanding places to build a career.” Daniel…
Office Spotlight: Brady Saunders on Nonprofits
Working with nonprofits gives members of our team a unique perspective on not only accounting and consulting, but also their personal lives. Brady Saunders, Audit Supervisor, explained what he thought the most important elements of nonprofit service were and how his work with nonprofits has impacted his life. Saunders has been at Han Group since…