Frequently Asked Questions / Ask the Expert

Q:  Are there any special accounting requirements for Stimulus money?

• Yes, there are special requirements.  For more information see Recovery Act of 2009 Funding: 10 Tips for Governments and Not-For-Profit Organizations

Q:  Is there a minimum amount for sending a letter acknowledging the gift as a donation and noting the 501(c)3 information?

• Yes, the amount is $250.

Q:  Do nonprofits need to register with the Attorney General's office in every state they receive donations from?  What if they don't know where the donations come from?  Are they required to register in every state just in case?

• If a nonprofit organization solicits funds people in other states, the organization may need to register with those states to be in compliance with local laws.  Giving USA Foundation published an Annual Survey of State Laws Regulating Charitable Soliciations as of January 1, 2010.  The survey includes State Regulatory Agency inforamtion for each state, registration requirements and other useful information.

If you have a question that you would like to ask a CPA, please send it to info@centerfornonprofitexcellence.org.  The answer will be sent to you directly and a generic version will appear on the website.