‘Board-designated assets’ may help your nonprofit weather an economic storm
Board designation may help your nonprofit steward excess liquidity.
Employees of local companies may be a ready volunteer force
Volunteering is still down since the pandemic. Could your nonprofit find new volunteers at local companies?
Changes to auditor’s report aimed at visibility and transparency
By Frank T. Ardito, CPA Vice President & Director When you receive your audited financial statements for the year ended December 31, 2021, there will be a change to the auditor’s report. The American Institute of Certified Public Accountants (AICPA) Auditing...Does your nonprofit owe tax on its sponsorships and advertising income?
Your not-for-profit may prefer to avoid unrelated business income tax (UBIT). When it comes to sponsorships and advertising it’s important to understand what is and what isn’t taxable.
New lease accounting standard: The time has come to prepare
By Ryan C. Peck, CPA Senior Accountant & Auditor Since the process of enhancing the lease accounting standard began in 2006, and given several delays of the implementation dates, it sometimes seemed as if the new standard would never become a reality. But the time...New accounting rules govern reporting of gifts in kind
If your nonprofit organization accepts contributions of nonfinancial assets, new rules govern financial reporting of gifts in kind.