January 6, 2017/Not-For-Profit
Winter 2016 Nonprofit Standard
Explore the Winter 2016 Nonprofit Standard. Topics covered will include how tax law changes may impact charitable giving, analysis of ASU 2016-14 implementation issues, foreign income tax for employees, 2017 work plan for tax exempt organizations, and the difference between nonprofit and for-profit accounting and how it impacts the fiduciary duties of board members.
October 12, 2016/Not-For-Profit
Fall 2016 Nonprofit Standard
Explore the Fall 2016 Nonprofit Standard. Topics covered will include the new FASB release of ASU 2016-14, tax implications for tax-exempt telemedicine providers, an increase in lawsuits targeting higher education, international grantmaking issues, uniform guidance procurement rules, new deferred compensation regulations, and philanthropic planning.
September 7, 2016/Not-For-Profit
Biggest Change to Nonprofit Financial Reporting in 20 Years Has Arrived
The Financial Accounting Standards Board (FASB) has released the Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958) – Presentation of Financial Statements of Not-for-Profit Entities. The standard aims to improve presentation of financial information, ultimately making nonprofit financial reporting statements more informative, transparent and useful to readers. Key qualitative and quantitative requirements covered in the final ASU include net asset classes, investment return, expenses, liquidity and availability of resources, and presentation of operating cash flows.
July 11, 2016/Not-For-Profit
Summer 2016 Nonprofit Standard
Explore the Summer 2016 Nonprofit Standard. Topics covered will include the 10 steps not-for-profits should take for cybersecurity, new GASB pronouncements, recruiting and engaging great board members, common self-dealing mistakes of private foundations, and revenue recognition of grants and contracts.
June 24, 2016/Tax, Not-For-Profit
11 Risks Hidden In Your Form 990
As watchdog groups and other stakeholders continue to expect increased transparency from nonprofits, it’s become all the more important for organizations to prepare Form 990 as accurately and completely as possible. These publicly available forms can expose organizations to public scrutiny, but they can also leave the door open for preventable penalties from the IRS and state and local taxing authorities. Read the list below to learn about some of the hidden pitfalls in your Form 990 that you may never have noticed, but need to address.
April 12, 2016/Not-For-Profit
Spring 2016 Nonprofit Standard
Explore the Spring 2016 Nonprofit Standard. Topics covered will include the right balance for NFP liquidity, ACA filing requirements, sales tax with internet sales, new GASB standards, and the impact of the new tax act on nonprofits.
November 24, 2015/Not-For-Profit
Nonprofit Standard – Winter 2015
The IRS has become much more efficient and effective in its examination activities related to exempt organizations. Although the examination rate is lower for exempt organizations than for other taxpayers, TE/GE is attempting to better target its examinations for improved results. One final note: the IRS still relies on trustworthy outside data and public information, so it’s important to make sure that your organization is accurately portrayed in the media and on its Form 990, which is a public document available on www.guidestar.org.
September 24, 2015/Not-For-Profit
Nonprofit Standard – Fall 2015
One of the benefits of tax exemption under Internal Revenue Code (IRC) Section 501(c)(3) is the ability to use tax-exempt financing. Tax-exempt bonds generally carry a lower interest rate than taxable bonds and the interest received by the bondholders is excludable from income for federal income tax purposes.
June 24, 2015/Not-For-Profit
Nonprofit Standard – Summer 2015
The Great Recession profoundly impacted the nonprofit sector. During an era in which both government funding and overall charitable giving declined, many organizations were forced to decrease their services in order to survive. At the same time, others did not fare the economy’s dire straits, and were forced to shut their doors for good.
March 24, 2015/Not-For-Profit
Nonprofit Standard – Spring 2015
At this point, we are just about through the first quarter, and 2015 has already seen a slew of legislative proposals that could considerably impact exempt organizations. From the President’s FY 2016 budget proposal, to last year’s Tax Reform Act of 2014 (TRA 2014), to a new proposal requiring that the Internal Revenue Service (IRS) give exempt organizations notice before their exempt status is revoked for non-filing, nonprofits are in the midst of a legislative landscape potentially poised for reform.
