Posted By: Amanda Cox Nonprofit organizations have two options when purchasing assets with a useful life of greater than one year: expense or capitalize. Assets which are capitalized are referred to as fixed assets and represent tangible property and equipment with a useful life of more than a year (except collection items and assets held for investment purposes) that meet … Continued
Posted By Christina Bell, CPA Regardless of the individual mission, every nonprofit share a common goal: to raise awareness and funding to propel its mission forward. And, when prospective donors are determining what charity is most deserving of their various resources, there is perhaps no better asset than Charity Navigator. Charity Navigator, the world’s largest and most-utilized independent nonprofit evaluator, … Continued
Posted by Jonathan D. Moll, CPA Managing a nonprofit organization can be a challenging task. It takes passion and drive to create, refine, and implement programs that serve the community or members. Whether it’s a trade association of Delaware dentists or an organization that delivers supplemental educational services to Wilmington’s youth, the challenges are many. For example, managing volunteers, attracting … Continued
A new year means lots of new changes.
In August 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-14 (ASU 2016-14) to make improvements to the communication of information on not-for-profit financial statements.
Most government and nonprofit finance officers, executives, and board members are very familiar with the annual accounting or audit services they receive from their CPA firm (practitioner).
There are more than 25 types of tax-exempt organizations classified under 501(c) of the Internal Revenue Code.
On June 23, 2017 House Bill (HB) 260 was assigned to the House Administration Committee.
The answer is…YES!
The power of suggestion is everywhere and studies have shown that our expectations of others affect how they perform.