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.
Author Archives: Casey Hagy, CPA
In September 2015 the IRS proposed regulations that would change the gift substantiation rules.
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.
School has officially started across the country, and it looks like students won’t be the only ones who will be graded out of 100 points this year. Charity Navigator, a nonprofit organization that evaluates charities in the United States and compares them to charities with similar causes, recently changed their rating system from a 70-point scale to a 100-point scale.
A wise person once said, “The only thing that is constant in life is change.” This principle lends itself well to the world of nonprofit organizations. A variety of factors cause nonprofit organizations to change.
Have you ever wondered how many nonprofit organizations there are in the United States? Over 1.5 million! Having a strong Board is crucial for the survival of these organizations.
There is a saying that whether we like it or not things must change and this year the format of audit reports are changing as a result of the AICPA’s Auditing Standards Board Clarity Project.
A wise philosopher once said, “If it looks like a duck, swims like a duck, and quacks like a duck, then it is probably a duck.” This keen form of inductive reasoning may have led to a not-so-widely known accounting standard update in 2012.