All posts by Mike Sperling

Pandemic, civil unrest spotlight potential of mutual aid

The COVID-19 pandemic and the response to racial justice issues have brought greater attention to mutual aid. Although the concept is nothing new, its emergence in recent times highlights the possibility that nonprofits can partner on mutual aid projects to enhance their mission- and cost-effectiveness when resources are tight. With the need for services so high, it’s worth exploring. Continue reading Pandemic, civil unrest spotlight potential of mutual aid

Donor-advised funds

How they work and how to land them

Donor-advised funds (DAFs) have shown consistent growth over the last nine years, according to the 2019 Donor-Advised Fund Report from the National Philanthropic Trust (NPT). NPT data from nearly 1,000 charities shows that DAFs grew in all key areas, including in the number of individual funds and total grant dollars awarded to charitable organizations. Data for the NPT’s 2020 report is currently being collected. Continue reading Donor-advised funds

Capacity building: Focus on your strengths, not your weaknesses

The COVID-19 pandemic, waves of civil unrest and rocky economic times have led to a tsunami of external and internal forces for which many nonprofits have found themselves unprepared. Organizations are struggling to continue serving their constituencies while keeping their employees safe and doors open to the extent permitted, all under the shadow of questions about funding. Continue reading Capacity building: Focus on your strengths, not your weaknesses

Influencer marketing comes to nonprofits

As the COVID-19 crisis intensified earlier this year, pop singer Ariana Grande began taking to Twitter every week to share a list of organizations she was supporting to help provide relief to those hit hard. As a result, organizations such as The Bail Project, Fund for Families and The Mental Health Fund saw a significant jump in contributions and new donors.
Continue reading Influencer marketing comes to nonprofits

Classifying workers as employees or independent contractors

When bringing back workers, follow the rules

Part of your nonprofit’s entrance into the “new normal” nonprofit world may involve rehiring workers — and perhaps hiring some new replacements. For tax obligation purposes, you’ll be required to classify those workers as employees or independent contractors (ICs).
Continue reading Classifying workers as employees or independent contractors

5 planning strategies in uncertain times

The COVID-19 pandemic, waves of civil unrest and rocky economic times have led to a tsunami of external and internal forces for which many nonprofits have found themselves unprepared. Organizations are struggling to continue serving their constituencies while keeping their employees safe and doors open to the extent permitted, all under the shadow of questions about funding. Continue reading 5 planning strategies in uncertain times

NOTIFICATION OF TEMPORARY OFFICE CLOSURE

Dear Clients,

BJHC is committed to providing exceptional accounting and tax services while keeping you and our staff safe.  We continue to closely monitor the COVID-19 situation with the guidance and advice from relevant authorities, including the Federal and State government entities, the Centers for Disease Control and Prevention, and the World Health Organization.

The safety and health of our clients and staff (and their families) is at the forefront of our decision making.  Last week we made the firm decision to eliminate all face-to-face client appointments and meetings.  Beginning today, we have decided to temporarily close our Topsfield office.  This temporary closure will assist in the recommended social distancing.

Our office staff will remotely continue to work during this office closure.  Our staff have remote access to our secure Client Portal, SmartVault, as well as email and USPS communication.  Income tax preparation and accounting work will continue throughout this closure; though only on a remote basis.  Voicemail messaging will be monitored frequently.

We encourage our clients to use electronic means to transfer data – email, SmartVault, and DropBox.  We will also continue to receive mail; though not on a daily basis.  USPS method of communication and transfer of your tax documents should always be done using certified mail, return receipt.  Both SmartVault and DropBox have an extreme level of safety and encryption.

If you wish to transmit your information through SmartVault, but do not have instructions on that process, please contact us and we will forward you instructions.  Your completed tax filings will be uploaded to SmartVault, as well as mailed directly to you.

Though there has been no official word yet, we anticipate the Federal and state filing season will be extended for a period of time this year.  As that extended date is made available to us, we will inform our clients.

This was a challenging decision for our office however, we believe it is in the best interest of all our clients and staff.  We will continue to monitor the situation with guidance from authorities.  We will contact you when the decision has been made to resume normal business office hours.

The Partners and staff at BJHC, PC.

Newsbits

Giving to donor-advised funds jumps

The National Philanthropic Trust (NPT), the largest U.S. donor-advised fund (DAF) sponsor, has some good news about grants to nonprofits from DAFs. It reports a 39% increase in the dollar amount of such grants made from its sponsored funds in fiscal year 2019, for a total of $1.39 billion. That represents a 28% increase in the number of grants made over the previous year. The jump aligns with reports from other DAF sponsors. Fidelity, for example, reported a 48% increase in grantmaking from DAFs in the first half of 2019. And Schwab said it experienced a 33% increase in the dollars granted from DAFs in fiscal 2018.
Continue reading Newsbits