Quinn
Forum Replies Created
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I’d lean towards recording the organisation’s share as revenue and the winner’s share as a liability, rather than treating the entire pot as revenue and the payout as an expense. The key is whether the organisation has control of the full proceeds or is holding part for the winner. I’d confirm the treatment with your accountant, particularly because raffle and gaming rules can vary by jurisdiction.
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I think outsourcing some of the bookkeeping is a good option, especially with a volunteer board. You could also ask local accounting firms about nonprofit services. Whatever route you choose, I’d keep clear separation of duties and board oversight around cash and payments.
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I’d be interested in seeing examples of this as well. Digital transactions introduce a few extra considerations around authorisation, documentation and audit trails. A policy that keeps those controls clear while remaining practical would be especially useful.
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Enter the historical cost or other basis (purchase price plus improvements). For property that cannot be sold, report the cost basis and note any restrictions on Schedule D or Schedule O. This keeps your filing transparent and compliant.
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Your suspicion is understandable. Anti-DEI executive orders are creating a chilling effect in the private sector. Banks are de-risking by avoiding nonprofits with DEI missions, even stable ones. Corporations are retreating from DEI, and the FTC is using antitrust arguments against them. Connect with other nonprofits to find a processor willing to serve you.