November 24, 2014/Not-For-Profit
Nonprofit Standard – Winter 2014
After attending the Eastern Association of College and University Business Officers (EACUBO) 2014 Annual Meeting, we’ve been reflecting on the most pressing trends currently challenging the higher education community. Overall, what remains constant in this rapidly transforming landscape is the mission of higher education institutions: preparing students with the right tools, knowledge and problem-solving capabilities to make productive and beneficial contributions to society
September 24, 2014/Not-For-Profit
Nonprofit Standard – Fall 2014
Six years after the start of the Great Recession, most not-for-profits (NFPs) are still trying to navigate through a troubled economy that continues to loom over most of the nonprofit sector. However, simply keeping the lights on is not the only issue facing NFPs. All nonprofits, including those with deep pockets and reserves for a rainy day, are likely to struggle with some of the following issues and their fallout throughout the remainder of 2014 and going into 2015.
May 24, 2014/Not-For-Profit
Nonprofit Standard – Summer 2014
Many times local retail chains or restaurants ask customers to donate to a local charity with the payment of their restaurant bill or store purchase. Are these donations considered tax deductible contributions? The donation is not going directly to a charity. The donation is going to a business entity that will pay the donation to the charity on the customer’s behalf.
March 24, 2014/Not-For-Profit
Nonprofit Standard – Spring 2014
In January we attended the BDO, UBS and Wells Fargo jointly sponsored event, “Summit to End the Overhead Myth,” in New York City. Led by steering committee members Steve Barker (World Resources Institute), Tom Dente (InsideNGO), Sarah Gillman (Natural Resources Defense Council), Steve Howell (Nature Conservancy), Bob Mims (Ducks Unlimited), Arun Sardana (UBS), Tom McCauley (Wells Fargo) and our own Adam Cole, New York Assurance partner in the Nonprofit & Education and Healthcare groups, the event aimed to assess the way forward for organizations to measure impact by results, not administrative overhead. Key participants also included Ken Berger of Charity Navigator and Jacob Harold of Guidestar, two of the charity rating organizations leading the charge to overhaul their rating systems.
September 24, 2013/Not-For-Profit
Nonprofit Standard – Fall 2013
Perhaps you submitted an application for recognition of tax exemption to the IRS months ago and wonder why it’s taking so long for the agency to process and send a determination letter. Tax-exempt organizations are currently experiencing significant delays after submission of their applications to the IRS. This article explores the reasons for the delay and offers suggestions to those who have submitted, or plan to submit, an application for exemption.
March 24, 2013/Not-For-Profit
Nonprofit Standard – Spring 2013
Nonprofit boards, regardless of an organization’s size and scope, play a vital role in the overall success of a nonprofit. With overwhelming economic uncertainty and increased scrutiny, boards are required now more than ever to effectively govern their nonprofits.
September 24, 2012/Not-For-Profit
Nonprofit Standard – Fall 2012
GASB Statement No. 60, Accounting and Financial Reporting for Service Concession Arrangements (SCA) will apply to governments that have another entity operating a public asset. An SCA is an arrangement between a transferor (a government) and an operator (governmental or nongovernmental entity) in which (1) the transferor conveys to an operator the right and related obligation to provide services through the use of infrastructure or another public asset, (2) the operator collects fees from third parties and is compensated by fees, (3) the transferor determines what services the operator is required to provide, to whom and at what price and (4) the transferor is entitled to significant residual interest in the service utility of the asset at the end of the agreement. Examples include toll roads, convention facilities or a parking garage.
June 24, 2012/Not-For-Profit
Nonprofit Standard – June 2012
In an effort to add further transparency into nonprofit organization reporting, the IRS added Part VI to the revised Form 990 in 2008. This section asks a variety of questions which cover a spectrum of best practices in the areas of governance, policy and disclosures.
