Shortages abound in this COVID-19 world, and that includes contributions and grants for many nonprofits. Most organizations face hardships as governments reallocate funding to combat and contain the virus. Add [...]
When you started your organization, it probably wasn’t because you wanted to keep track of your payroll, expenses and other financial considerations. It was because you had a dream to serve [...]
We all know the importance of volunteers. But can we put a number on the value of their work? The answer is yes—and that number is a big one. According [...]
When preparing for financial statement audits, it is important to consider all related parties and foundations that directly support your organization. Whether the organization is defined as a support organization [...]
On May 20, 2020, the Financial Accounting Standards Board (FASB) voted to delay the effective date of revenue recognition (ASC 606) and lease (ASC 842) standards for all private companies. [...]
Some nonprofits are getting a welcome reprieve in deadline extensions for their Form 990 and federal single audit reports. IRS Form 990 and Similar Forms The Internal Revenue Service (IRS) [...]