Nonprofit

CECL for Nonprofits Is Here – Helping You Prepare

Nonprofits have endured the challenges of adopting several new accounting standards over the last several years. Now, after a lengthy deferral period, the Financial Accounting Standards Board (FASB) Accounting Standards

State Charitable Solicitation Registrations and Other Filing Requirements

Did you know that states have their own laws requiring charitable organizations to register or file financial information? Most charitable organizations are aware of charitable solicitation registration requirements but may

Reporting a Change in Responsible Party: What It Means for Your Tax-exempt Organization

Written by Whitney Roberson, CPA IRS regulations require any entity with an EIN to update responsible party information within 60 days of any change by using Form 8822-B. You may

Breaking Down Barriers—and Siloes: Addressing Leadership Challenges in a Remote Environment

By: Barbara Finke, BDO USA Are you tired of the “new normal,” logging into yet another virtual meeting and hoping your internet will hold out for your key presentation? Or

Nonprofit Newsflash, Winter 2020

We want to make sure your organization stays on top of the ever-changing tax laws and regulations while staying in the best position to foster growth and continued success. We

Guidance Released on Taxable Income from Parking and Other Fringe Benefit

By Marc Berger, CPA, JD, LLM The bill known as the Tax Cuts and Jobs Act, enacted in December 2017, added new Section 512(a)(7) to the Internal Revenue Code (IRC).

Lessons Learned From Implementing ASU 2016-14 – Functional Expenses

By Tammy Ricciardella, CPA Nonprofit organizations with calendar year ends are working to implement the provisions of Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements

GASB Simplifies Accounting for Capitalized Interest

By Susan Friend, CPA The Governmental Accounting Standards Board (GASB) Statement No. 89 (Statement), Accounting for Interest Cost Incurred before the End of a Construction Period, which is effective for

IRS Answers Many Questions on New 21% Executive Compensation Tax

Tax-exempt and certain governmental entities, as well as their for-profit entities, may need to pay an excise tax on executive compensation and parachute payments in excess of $1 million per

Nonprofit Newsflash – Spring 2019

Our Spring 2019 Nonprofit newsletter gives insight into the new 21% executive compensation tax, the status of Uniform Guidance, the new statement from the Governmental Accounting Standards Board (GASB) about eliminating