by Kyle R. Evans, CPA Tax experts agree: adjusting to new accounting standards and the effects of the 2017 Tax Cuts and Jobs Act can make the nonprofit world more confusing – and challenging. That’s why it’s essential for a CPA or other financial adviser to serve as your nonprofit’s partner and guide year-round to […]
Read More
by David J. Manbeck You love your job with a nonprofit organization. You believe strongly in the good work you do every day. But there’s one part you do not love — the annual audit. Pennsylvania statute says charitable nonprofits with contributions of at least $750,000 must undergo an annual independent audit by a […]
Read More
by Edward J. Straley In June 2018, the Financial Accounting Standards Board culminated a four-year review with new rules for revenue recognition by nonprofits. While the new standard, known as ASU 2018-08, did not substantially change the way that nonprofit organizations identify and report revenue, it did clarify the standard rules and provided better […]
Read More
By David J. Manbeck No matter the mission of a charitable organization, those running it share a common trait: They became involved in the nonprofit world out of a desire to do good. But some organizations focus so much on the mission that they neglect the “taking-care-of-business” side of running a nonprofit. If they’re not […]
Read More
By David J. Manbeck, CPA and Donna M. Mullin, J.D., CPA Effects of the 2017 Tax Cuts and Jobs Act on nonprofit charities may boil down to a straightforward question: Why do people donate as much as they do? Some nonprofits are nervous that an increase in the standard deduction may mean a decrease in […]
Read More
As nonprofits approach the end of their fiscal year, there are five things even the best-run nonprofits would be well-advised to check to ensure they – and those counting on their help – are not headed for a nasty surprise.
Read More
The Department of Labor identified no exceptions for nonprofits or charitable organizations. With the overtime rules taking effect Dec. 1 — midway through the fiscal year — it will likely require many nonprofits to reexamine their budgets and how they are allocating resources.
Read More