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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Marcia Lewis, CPA/PFS, CFP®
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With the merger of Potter & Company, LLP into Blue & Co. in 2010, Marcia became a Director in Blue's Louisville Downtown office. Marcia Lewis is a graduate of the University of Illinois - Chicago. She is a Certified Public Accountant, a Personal Financial Specialist and a Certified Financial Planner. Before moving to Louisville about 18 years ago, she was with an accounting firm in Chicago, where she had extensive experience in the tax, financial planning and small business service areas. Since joining Potter & Company, LLP in January, 1992, Marcia has continued her work in these areas. She is a member of the Kentucky Society of CPAs and served as the chair of the financial planning section. Marcia currently serves as the president of the Norton Psychiatric Center Council and is on the board of directors of The Healing Place and is past chair of the board and continues to serve on finance committee of The Presbyterian Community Center. |
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