With the end of the year approaching, it is important to be aware of reporting requirements your organization may be subject to under the IRS.
Yearly Archives: 2015
In September 2015 the IRS proposed regulations that would change the gift substantiation rules.
This is a common thought running through the minds of many Controllers of not-for-profit entities, especially during times when fundraising events are being held.
As accounting professionals who specialize in nonprofit organizations, we’re often presented with opportunities to strengthen our clients’ financial position and, in turn, serve our communities both directly and indirectly.
The IRS refers to transactions in which the donor makes a payment partly in return for some type of goods or services (a benefit received) and partly as a contribution as quid pro quo contributions.
As described in our earlier blog “The AICPA Introduces the Nonprofit Membership Section,” the AICPA has broadened their membership requirements for non-CPA associates and added a not-for-profit (NFP) section which allows non-CPAs to join the AIPCA and have access to numerous NFP resources. In an effort to strengthen this new NFP section, the AICPA recently launched the NFP Certificate Program.
The Delaware Alliance for Nonprofit Advancement (DANA) 2015 Annual Conference was held on June 15th at the Chase Center on the Riverfront in Wilmington, Delaware.
In an effort to better serve the nonprofit community, the AICPA’s governing Council voted to broaden Section membership requirements for non-CPA Associates. Those who have management or governance responsibilities with respect to a nonprofit, including those who serve as board members or as volunteers, are eligible to join the AICPA as a non-CPA Associate.
At one point the top hat was commonly found throughout American history and pop culture. During the 19th century, it served as a symbol of freedom sitting atop President Abraham Lincoln’s head as he navigated the country through the Civil War.
Today (04/22/15) FASB issued a proposed Accounting Standards Update intended to improve existing standards for financial statement presentation for Nonprofit Organizations. A summary of the changes is provided, as well as, the full proposed