Han Group LLC

06/20/2024

Han Group was honored to serve as gold sponsors at the AICPA 2024 Not-for-Profit Industry Conference. The event began on a high note with a remarkable presentation by our very own Nancy Johnson and Heather Johnson, CPA. Throughout the conference, we had numerous opportunities to learn, network, and reconnect with industry professionals.

Thank you to everyone who made this event a success!

06/06/2024

Exciting News! Han Group is proud to sponsor and speak at the AICPA & CIMA 2024 Not-for-Profit Industry Conference on June 17, 2024, at 8 AM. Our partners, Nancy Johnson and Heather Johnson, will present "Don't Panic: Change is Inevitable - Strategies for Success During Transition," offering practical advice and proven strategies to navigate and thrive through periods of change. Join us to gain valuable insights and drive success together!

05/28/2024

With cryptocurrency donations on the rise, does your nonprofit have a crypto plan?

We break down the new guidance on crypto assets from , which provides better clarity on how organizations should measure, present, and disclose transactions involving these more volatile forms of currency.

As donors change the way they invest, they also change the way they give. The professionals at Han Group are following all of these advancements, so please reach out to us if you have any questions!

https://hangroupllc.com/crypto/

Does Your Nonprofit Have a Crypto Plan? It May Be Time To Adopt One As digital currencies like Bitcoin and Dogecoin gain popularity, more donors are looking toward these novel assets as a means to contribute to their favorite causes. The landscape of charitable giving is evolving, with cryptocurrenc...

05/21/2024

Did you know that donors can also benefit from making donations when they do so through a certain type of account? Donor-advised funds provide donors with multiple tax benefits, including the ability to take an immediate deduction, even before sending funds to a specific organization. The number of DAF accounts has grown over time in part because of their incentives to donors.

Read more here:

3 Benefits of Donor-Advised Funds Use of donor-advised funds has increased over time and for good reason—they provide multiple perks to donors. There are more ways to give and more nonprofits to give to than there ever have been, according to the National Philanthropic Trust, a charity that manage...

05/14/2024

Americans trust nonprofits as valued members of their communities. In the most recent Trust Barometer, 51% dub them the most dependable information resource, and 46% believe NGOs bring people together, unlike government and business.

But that trust has slipped from 2020 highs. That’s why being meticulous about your nonprofit’s financials and reporting are essential.

At Han Group, we are dedicated to nonprofit accounting, so we understand the unique challenges and the details required to be the trusted stewards of people's donations.

https://hangroupllc.com/tracking-nonprofit-trust/

For nonprofits, trust is everything More people trust nonprofits than other institutions, therefore, upholding financial integrity is critical. Trust is earned, and nonprofits can show they are responsible stewards of donor money through clear and accurate finance and accounting practices. A nonprof...

04/29/2024

Is your nonprofit sitting on too much cash? 💰 While maintaining a strong cash reserve is critical, letting excess funds sit idle in low-interest accounts can hinder your potential. It's time to make your money work harder for your mission!

Our latest article explores the benefits of investing your nonprofit's excess cash and provides best practices for developing a sound investment strategy—from understanding key terminology to setting clear roles and responsibilities.

Read the full article from , a senior manager at Han Group, to learn how to make your nonprofit's dollars go further!

https://hangroupllc.com/is-your-nonprofit-sitting-on-too-much-cash/

Maintaining a cash reserve is key to an organization’s financial strategy. But don’t let too much excess cash just sit there — use it to invest in your mission. Investing isn’t something that most people consider themselves experts in. For many of us, making investment decisions is usually t...

04/12/2024

Discover key changes in the 2024 Uniform Guidance Update - the most significant revisions in a decade. Learn about increased thresholds in several key areas, cybersecurity requirements, and updated disclosure requirements. Stay informed and compliant with these critical updates.

Read more: https://hangroupllc.com/news-flash-2024-uniform-guidance-updates-for-recipients-of-federal-funds/

The most extensive changes to the Uniform Guidance in ten years are slated for an effective date of October 1, 2024. Here we share highlights of key changes of impact to nonprofit recipients of federal funding: HIGHLIGHTS of KEY CHANGES: Single Audit Requirement Threshold Raised from $750,000 to $1,...

04/03/2024

Nonprofits: don’t risk your status because of poor recordkeeping. We break down which financial, legal, staffing, and founding documents the IRS says to keep, plus expert rules of thumb on retention periods.

Stay informed and protect your mission. Reach out to Han Group if you have any questions about which documents you need to keep permanently, and which ones you should only retain for a certain period of time.

https://hangroupllc.com/safeguard-your-tax-exempt-status-with-flawless-finance-records/

Nonprofits should have a document management system in place to ensure accurate recordkeeping. Poor recordkeeping can jeopardize nonprofit organizations’ tax-exempt status. Organizations must retain certain records to maintain lawful compliance with the US government to protect their status. Witho...

04/02/2024

Attention : April is packed with critical tax deadlines that can easily be overlooked. From foreign bank account reporting to political expenditures and more, it's crucial to be prepared. While some of these might not be as well-known as the 990, they are equally important for many organizations.

Staying ahead of these deadlines is essential for maintaining your nonprofit's compliance and financial health.

Check out our helpful list of filing deadlines coming in April, assembled by Han Group Tax Manager .

https://hangroupllc.com/critical-tax-deadlines-for-nonprofits-this-april/

Ensure your nonprofit stays on track with these must-know tax filing dates. April marks a significant period for nonprofits, not only as a precursor to the May 15 deadline for 990 filings but also as a month punctuated with critical deadlines of its own. The following list of April tax deadlines hig...

03/19/2024

Your nonprofit’s annual 990 is far more than just an IRS form to fill out. It tells your organization's story through finances, governance, and impact. Yet boards may not fully grasp their duty when reviewing it.

As a nonprofit leader, don't just present numbers to the board. Walk board members through key sections that showcase your mission and community benefit. An informed board that understands the qualitative aspects of the 990 ultimately helps sustain your nonprofit.

Here's a quick guide on what to look for in this critical financial doc:

https://hangroupllc.com/what-every-nonprofit-board-should-know-about-your-990/

A nonprofit leader’s guide to reviewing 990s with your board. As a nonprofit leader, one of your main responsibilities is providing the board of directors the insight and resources they need to bring your nonprofit’s mission to life. Part of that job is presenting financial documents, like the a...