Save Time and Money by Outsourcing Your Accounting
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 [...]
Annual Report: The Value of a Volunteer
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 [...]
To Consolidate or Not to Consolidate: That is the Question… for Nonprofits
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 [...]
FASB Votes to Postpone Revenue Recognition & Leases Standards (Again!)
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. [...]
Nonprofit Deadline Extensions for Form 990 and Federal Single Audits
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) [...]
Calculating the Individual Recovery Rebate from the CARES Act
As part of the recently-passed massive Coronavirus Aid, Relief, and Economic Security (CARES) Act, taxpayers will receive a direct stimulus payment within the coming weeks. This one-time remittance is based [...]