December 17, 2019
Form 990 Compensation Reporting
When your favorite time of year rolls around (completing your organization’s Form 990, of course!), it can be difficult to know what you should be providing to your tax return […]
Read MoreNovember 20, 2019
Contributions and Exchange Transactions: A Reminder on Upcoming New Revenue Standards
Update published on June 5, 2020: FASB issued Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (ASC 606) and Leases (ASC 842) Effective Dates for Certain Entities, as part of […]
Read MoreOctober 22, 2019
Property Tax Exemptions for Nonprofits
Did you know that just because a nonprofit organization is exempt from income tax, does not automatically qualify it to be exempt from property taxes? A general rule is that […]
Read MoreSeptember 30, 2019
Proposed Rules to End Donor Reporting Requirement for Non-501(c)(3) and Non-527 Organizations
On September 10, 2019, proposed REG-102508-16 was issued to end the reporting of names and addresses of substantial contributors listed on Schedule B of Form 990 or Form 990-EZ for […]
Read MoreSeptember 11, 2019
Reviewing Your Organization’s Board Governance Model
A strong board of directors will oversee implementation of strategic objectives for the organization, but also has ultimate responsibility and liability. Building a strong board of directors is challenging, yet […]
Read MoreAugust 20, 2019
Exempt Organization Public Disclosure and Availability Requirements
It’s pretty well known that exempt organizations’ current Form 990s or equivalent filings (990-EZ, 990-PF, etc.) are required to be available for public inspection. However, did you know these public […]
Read MoreJuly 31, 2019
Alternative Investments and Foreign Reporting for Nonprofits
Nonprofit organizations are often looking for ways to diversify their investment portfolios. One way to achieve diversification is to invest in alternative investments, which can include domestic and foreign limited […]
Read MoreJuly 26, 2019
New Lease Accounting Standard Deferral
Update published on June 5, 2020: FASB issued Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (ASC 606) and Leases (ASC 842) Effective Dates for Certain Entities, as part of […]
Read MoreJuly 10, 2019
Legislative Update for Exempt Organizations: July 2019
On July 1, 2019, the Taxpayer First Act of 2019 (the “Act”) was signed into law. The law is generally intended to improve customer relations with the Internal Revenue Service […]
Read MoreJune 18, 2019
Should My Organization Consider Establishing an Operating Reserve?
The recent Accounting Standards Update (No. 2016-14) issued by the Financial Accounting Standards Board on the Presentation of Financial Statements of Not-For-Profit Entities has increased awareness of liquidity in not-for-profit […]
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