To help exempt organizations “silo,” or separately compute, their unrelated business or trade income, three experts who will be giving a presentation on the topic at the upcoming Not-for-Profit Industry Conference offer their thoughts.
Many private companies and not-for-profits are adopting new lease accounting standards, and public companies that have adopted the guidance are applying it amid a pandemic-fueled surge in lease renegotiations.
Not-for-profits have experienced huge challenges during the coronavirus pandemic. Careful oversight of policies related to people, cash flow, and fraud can smooth the path to long-term sustainability for the mission.
Religious organizations are vulnerable to fraud precisely because of the tenets of trust and forgiveness that define them, and the pandemic has led to increased risks. CPAs are in a position to advise churches on steps they can take to reduce fraud risk without compromising their principles.
For-profit entities are permitted to use the not-for-profit conditional contribution accounting model to account for Paycheck Protection Program loans. The accounting requires reasoned judgment, careful evaluation of barriers and thorough documentation.
Hear advice for not-for-profits related to tax and PPP applications, along with why one pioneering CPA’s own role model was her sister.
Private companies and not-for-profits have the option to perform goodwill impairment triggering assessments at the end of an interim or annual reporting period under an accounting alternative issued by FASB.
Highly paid employees require some exempt organizations to pay an excise tax.
The Tax Court held that the taxpayer had no ownership interest that would generate passthrough losses.
Private companies and not-for-profits will have an option to perform goodwill impairment triggering event assessments at the reporting date (versus on the date of a triggering event as currently required), under an accounting alternative FASB voted to approve.
Remote auditing, new risks, going concern issues and changes in internal controls give not-for-profit auditors a long list of challenges to meet as a result of the pandemic. Here’s what practitioners should keep in mind.
FASB issued a proposal that would permit certain private companies and not-for-profits to elect not to perform goodwill assessments related to triggering events.
FASB added a project to its technical agenda that would give certain private companies and not-for-profits the option to perform goodwill triggering event evaluation only on the annual reporting date.
When services are needed most and when revenue is likely dropping, not-for-profit leaders face big challenges. A finance leader at an NFP shares adaptation advice.
Not-for-profit financial statements will include more information on contributed nonfinancial assets, also known as gifts-in-kind, under a new standard issued by FASB.
Not-for-profits face challenges related to funding, operations and strategy as a result of the coronavirus pandemic. These tips can help resolve issues related to the PPP, accounting and other topics.
The Federal Reserve board announced that it has made changes to the Main Street Lending Program to allow more participation from not-for-profits, including educational institutions, hospitals and social service organizations.
The Proposed ASU would require not-for-profits to present contributed nonfinancial assets as a separate line item in the statement of activities.
Board members can help retain volunteers by making sure they are onboarded effectively, recognized and given a chance to advance.
These tips can help boards perform their duties of care, loyalty, and obedience to help not-for-profits thrive.