The IRS recently expanded two existing programs for tax-qualified retirement plans—the Employee Plans Compliance Resolution System (EPCRS) and the determination letter (DL) program for individually designed plans. Generally,Read More →
In a recent insight, we explored the concept of “Nonprofit Heart, Business Mindset”–which, put simply, is the belief that nonprofit organizations must pursue business-orientedRead More →
As calendar-year-end nonprofits have worked through the implementation of Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, we have seen quite a bit ofRead More →
The world needs nonprofits to continue striving for meaningful impact on a wide range of social, economic and human rights issues, and it needs them to remainRead More →
Historically there has been diversity in practice among nonprofits with regard to presentation of restricted cash and cash equivalents in the statement of cash flows.
To address this diversity, the Financial Accounting StandardsRead More →
The Financial Accounting Standards Board (FASB or the Board) issued Accounting Standards Update (ASU) 2019-03, Updating the Definition of Collections, to address the issue that the definition of the term collectionsRead More →
The nonprofit industry is anything but static. Many outside factors impact their daily operations. Following is a list of what we see as the top 10 trendsRead More →
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 of Not-for-Profit Entities.
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). This new section requires tax-exempt organizationsRead More →
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 reporting periods beginning after Dec. 15,Read More →
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IRS Expands Self-Correction and Determination Letter Programs for Retirement Plans
/in Blog, Nonprofit /by John TempletonBy Norma Sharara, JD, and Joan Vines, CPA
The IRS recently expanded two existing programs for tax-qualified retirement plans—the Employee Plans Compliance Resolution System (EPCRS) and the determination letter (DL) program for individually designed plans. Generally, Read More →
Don’t Be a CF-No: How Nonprofit CFOs Can Collaborate with Senior Leadership
/in Blog, Nonprofit /by John TempletonBy Laurie De Armond, CPA, and Adam Cole, CPA
In a recent insight, we explored the concept of “Nonprofit Heart, Business Mindset”–which, put simply, is the belief that nonprofit organizations must pursue business-oriented Read More →
ASU 2016-14 – Liquidity and Availability Disclosure Issues
/in Assurance, Advisory & Review, Blog, Nonprofit /by John TempletonBy Tammy Ricciardella, CPA
As calendar-year-end nonprofits have worked through the implementation of Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, we have seen quite a bit of Read More →
From Idea to Impact: 4 Fundamental Elements for Sustainability
/in Blog, Nonprofit /by John TempletonBy Laurie De Armond, CPA, and Adam Cole, CPA
The world needs nonprofits to continue striving for meaningful impact on a wide range of social, economic and human rights issues, and it needs them to remain Read More →
Presentation of Restricted Cash and Cash Equivalents in the Statement of Cash Flows
/in Assurance, Advisory & Review, Blog, Nonprofit /by John TempletonBy Amy Guerra, CPA
Historically there has been diversity in practice among nonprofits with regard to presentation of restricted cash and cash equivalents in the statement of cash flows.
To address this diversity, the Financial Accounting Standards Read More →
FASB Issues ASU 2019-03, Updating the Definition of Collections
/in Assurance, Advisory & Review, Blog, Nonprofit /by John TempletonBy Lee Klumpp, CPA, CGMA
The Financial Accounting Standards Board (FASB or the Board) issued Accounting Standards Update (ASU) 2019-03, Updating the Definition of Collections, to address the issue that the definition of the term collections Read More →
Top 10 Trends in the Nonprofit Industry
/in Blog, Nonprofit /by John TempletonBy Laurie De Armond, CPA and Adam Cole, CPA
The nonprofit industry is anything but static. Many outside factors impact their daily operations. Following is a list of what we see as the top 10 trends Read More →
Lessons Learned from Implementing ASU 2016-14 – Functional Expenses
/in Assurance, Advisory & Review, Blog, Nonprofit /by John TempletonBy 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 of Not-for-Profit Entities.
The ASU is effective Read More →
Guidance Released on Taxable Income from Parking and Other Fringe Benefits
/in Blog, Nonprofit /by John TempletonBy 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). This new section requires tax-exempt organizations Read More →
GASB Simplifies Accounting for Capitalized Interest
/in Blog, Nonprofit /by John TempletonBy 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 reporting periods beginning after Dec. 15, Read More →