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 toRead More →
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 toRead More →
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 toRead More →
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 oneRead More →
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 organizationsRead More →
First, what is an audit (and what is it not)? The purpose of an audit, as defined by the American Institute of Certified Public Accountants (AICPA), is “to provide financialRead More →
On September 17th, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU), 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed NonfinancialRead More →
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novelRead More →
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Revisions to the Uniform Guidance Affecting Recipients
/in Blog, Nonprofit /by Templeton CompanyBy 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 Read More →
Nonprofit Data Breach Vulnerabilities and How to Avoid Them
/in Blog, Nonprofit /by Templeton CompanyBy 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 Read More →
Cares Act Employee Retention Credits for Nonprofit Employers
/in Blog, Nonprofit /by Templeton CompanyBy 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 Read More →
Provider Relief Funds – Reporting and Audit Requirements
/in Blog, Nonprofit /by Templeton CompanyBy 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 Read More →
IRS Issues Final Regulations on UBTI “Silos”
/in Blog, Nonprofit /by Templeton CompanyBy 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 Read More →
Nonprofits Have Additional Time to Comply with New Lease Accounting Standards
/in Assurance, Advisory & Review, Blog, Nonprofit /by Templeton CompanyBy 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 Read More →
IRS Proposes Excise Tax Relief for Exempt Organization Executive Compensation Under Code Section 4960
/in Blog, Nonprofit /by Templeton CompanyBy 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 Read More →
Is Your Organization Audit Ready?
/in Assurance, Advisory & Review, Blog, Nonprofit /by Templeton CompanyBy Barbara Finke, CPA
First, what is an audit (and what is it not)? The purpose of an audit, as defined by the American Institute of Certified Public Accountants (AICPA), is “to provide financial Read More →
FASB Issues ASU On Contributed Nonfinancial Assets
/in Blog, Nonprofit /by John TempletonBy Tammy Ricciardella, CPA
President Trump Signs into Law CARES Act – Tax Impacts for Business, Charities and Individuals
/in Blog /by Templeton CompanyOn March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel Read More →
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