BLS Insights

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Month: September 2014

Identity Crisis – When There is a Need to Change Your Nonprofit’s Name

September 30, 2014

The need for a nonprofit organization to change its name happens quite frequently. The reasons vary: mergers with other organizations, additions of or changes to major programs, to distinguish from prior affiliated organizations or groups, or to improve marketability and fundraising.

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Surprise! It’s Examination Time for Investment Advisors

September 24, 2014

Investment advisers registered with the Securities and Exchange Commission (SEC) across the country should remain on alert for the annual surprise examination that they must undergo. However, this type of surprise is not as fun as a surprise birthday party, so let’s get up to speed on what a surprise examination is about. Background In … Continued

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What to Consider When Changing Your Mission Statement

September 16, 2014

A wise person once said, “The only thing that is constant in life is change.” This principle lends itself well to the world of nonprofit organizations. A variety of factors cause nonprofit organizations to change.

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Delaware Lowers the Gross Receipts Tax

September 10, 2014

Effective 1/1/2014, the State of Delaware lowered the Gross Receipts Tax for many business categories. Although the gross receipts tax has been lowered, the $100,000 exclusion did not change and still applies. Along with the $100,000 exclusion not being changed, the annual licensing fees remain unchanged. Gross Receipts Tax Change With the change in Gross … Continued

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Rental Income – Taxable to my Nonprofit or Not?

September 04, 2014

One of the most common sources of UBI is rental income; however, not all rental income is subject to unrelated business income tax (UBIT). So how is a nonprofit to know if the rental income they receive is subject to UBIT?

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