NFP E-News Update
May 9, 2013
The Financial Accounting Standards Board (FASB) recently issued Accounting Standards Update (ASU) No. 2012-05, Statement of Cash Flows (Topic 230): Not-for-Profit Entities: Classification of the Sale Proceeds of Donated Financial Assets in the Statement of Cash Flows.
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NFP E-News Update
May 2, 2013
In a letter from Lois Lerner, Director of Exempt Organizations (EO), the IRS spelled out its workplan for FY 2013.This article identifies some of the areas that will be the focus of the EO (the IRS division responsible for oversight of nonprofit organizations) in the coming year.
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NFP E-News Update
April 25, 2013
The Pension Protection Act of 2006 (PPA) required small organizations (those normally with gross receipts of $50,000 or less) to begin filing Form 990-N (e-Postcard) with the IRS. In addition to the filing, the PPA instituted automatic revocation of tax exempt status for organizations that do not file a tax return or notice for a period of three consecutive years.
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Jeffrey L. Reed, CPA |
Mr. Reed serves as a Director with Blue & Co., LLC, and has extensive experience in providing audit, accounting and various consulting services. Engagements include hospitals and related organizations, community mental health centers, physician practice groups, managed care organizations, long-term care organizations and other healthcare industry organizations.
Mr. Reed is also responsible for various other types of engagements including internal audits, internal control and fraud prevention, agreed upon procedures, debt capacity studies and related engagements, employee benefit plan audits, governmental audits, federal financial assistance engagements, board and audit committee communication and education and risk assessments.
Mr. Reed received his Bachelor of Science Degree in Accounting from Ball State University in 1991 and serves as the Treasurer of the Board for a healthcare organization and as the independent advisor for another board. |
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