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Implement a policy for credit card use

PSNwi16_1Providing employees with credit cards may seem convenient. But sharp criticism will likely follow if the cards are misused or appear to have been. And while large nonprofits typically have strong internal controls that minimize the risks, smaller organizations may need to take steps to protect themselves from credit card abuse. That begins with establishing a formal credit card policy.
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Joint costs: The right way to allocate

PSNwi16_3With so much attention these days paid to fundraising ratios, many nonprofits feel pressure to minimize their fundraising expenses. This makes allocating joint costs — costs associated with activities that have both fundraising and other functions — appealing. But before you take that step, make sure that you’re familiar with some frequently misunderstood accounting rules.
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PSNwi16_4DOL issues guidance on independent contractors
New U.S. Department of Labor (DOL) guidance addresses the standard for determining whether an employee is misclassified as an independent contractor under the Fair Labor Standards Act (FLSA). The guidance incorporates the “economic realities” test and provides broader FLSA coverage than the common law control test, which focuses on the employer’s control over the worker.

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