Apr 20, 2021 | Nonprofit, Nonprofit organizations
Many Nonprofits rely on annual special events as a significant source of annual revenue to help supplement their fundraising efforts. However, accounting for these events can often be challenging. Events may include gala dinners, golf tournaments, marathons,...
May 22, 2020 | Audit, Nonprofit, Nonprofit organizations
In recognition of the extraordinary business climate resulting from the COVID-19 pandemic, the Financial Accounting Standards Board (FASB) is providing relief from implementation of two major accounting standards for private companies and not-for-profit (NFP)...
Mar 31, 2020 | Nonprofit, Nonprofit organizations
On March 24, 2020, the Health Resources & Services Administration (HRSA) announced the release of $100 million in fiscal year 2020 COVID-19 funding for community health centers (CHC). The awards range from approximately $50,000 to more than $300,000 with an...
Jan 24, 2020 | Nonprofit, Nonprofit organizations, Tax
IRS issues procedural guidance for requesting refund of parking tax for nonprofit organizations The IRS has issued guidance on how to request a refund of any parking tax paid by nonprofit organizations. As a recap, the Tax Cuts and Jobs Act of 2017 created Internal...
Sep 24, 2018 | CFO Essentials, Nonprofit
On June 21, 2018, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) intended to clarify and improve the scope and the accounting guidance for contributions received and made, primarily by not-for-profit organizations. WHY DID...
