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Revisions to the Uniform Guidance Affecting Recipients

By Tammy Ricciardella, CPA On Aug. 13, 2020, the Office of Management and Budget (OMB) issued Final Guidance on amendments to the OMB Guidance for Grants and Agreements (Uniform Guidance). This reflects the first revisions to this guidance since they were originally issued in 2013. The impact from these revisions range from minor and unique […]

Nonprofit Data Breach Vulnerabilities and How to Avoid Them

By Mike Lee, CIPM, Alexandre Chanoine, J.D. and Derrick King As more people are shifting to digital lifestyles and remote operations, data is being passed through the internet now more than ever. Proportionate to this, however, are the opportunities for potential compromise of the data, particularly via a data breach. Data breaches are the unauthorized […]

Cares Act Employee Retention Credits for Nonprofit Employers

By Carolyn Smith Driscoll, Gabe Rubio, Brad Poris Many nonprofit organizations were forced to shutter or temporarily close their operations under a governmental order as a result of the coronavirus pandemic, while others were forced to severely limit their offerings. One way to continue to pursue your organization’s objectives is to ensure that you are […]

Provider Relief Funds – Reporting and Audit Requirements

By Carla DeMartini, CPA, Chad Krcil, FHFMA, CHFP, and Venson Wallin, CPA, CGMA, CFE, CHC, FHFMA, CHFP, HCISPP Through the CARES Act and supplemental funding from the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act, the U.S. Department of Health and Human Services (HHS) is in the process of distributing $178 billion to hospitals and […]

IRS Issues Final Regulations on UBTI “Silos”

By Marc Berger, CPA, JD, LLM On Dec. 2, 2020 the U.S. Treasury and IRS published final regulations under Internal Revenue Code (IRC or Code) Section 512(a)(6), the provision requiring tax-exempt organizations with more than one unrelated trade or business to calculate unrelated business taxable income (UBTI) separately with respect to each trade or business. […]

Fall 2021 Audit Internship

Functions: As an entry level position for a fall internship, interns actively participate in the full audit process of all the clients of the firm. You will be responsible for utilizing your educational background as well as communication and organizational skills by providing assistance in the full audit process including: preparation of work papers, trial […]

Audit Manager

OPPORTUNITY: We are currently looking for an Audit Manager to join us in our Fort Lauderdale office. The Audit Manager is responsible for leading or participating in audit engagements. Oversees the execution of audit engagements, trains staff and assesses audit quality. Essential Functions: • Ensures that audit activities comply with Audit Department standards • Accomplishes […]

Nonprofits Have Additional Time to Comply with New Lease Accounting Standards

By Lee Klumpp, CPA, CGMA In 2016, the Financial Accounting Standards Board (FASB) updated its lease accounting rules (ASC 842) and closed a diversity in practice in the previous standard. The major change is that organizations must now include lease assets and liabilities on their balance sheets. The upshot is that despite a recently granted […]

IRS Proposes Excise Tax Relief for Exempt Organization Executive Compensation Under Code Section 4960

By Marc Berger, CPA, JD, LLM, Alex Lifson, MBA, MST, Norma Sharara, JD, and Joan Vines, CPA In June 2020 the IRS proposed regulations under Internal Revenue Code (IRC) Section 4960 that, among other things, would allow certain tax-exempt organizations and related for-profit entities to avoid paying 21% excise taxes on certain executive compensation. Even […]