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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Stephen A. Sheridan, CPA
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Mr. Sheridan is a certified public accountant with more than 25 years of accounting experience including 11 years with Ernst & Young where he helped professional practices and other small businesses develop effective tax strategies. He worked for several years as Nationwide Corporation's Assistant Treasurer before becoming a founding owner of the public accounting firm of Sheridan, Barton, Vasko & Company. Steve joined Blue & Co. as a Director in 2007 when the firm he co-founded merged into Blue. He now leads the Ohio office's personal financial counseling practice while also consulting with clients on management, accounting and taxes. Mr. Sheridan earned his Bachelors of Science in Accounting from Case Western Reserve University and went on to receive a MS degree in Financial Planning from the College for Financial Planning. He is a Certified Financial Planner, Chartered Life Underwriter and a Chartered Financial Consultant. |
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