Posted by Michael H. Abernathy, CPA Of the many decisions that a nonprofit organization needs to make, setting standards for board-member size may not be at the top of the priority list; yet this decision is critical for the health and competence of the entire organization. Bylaws specifying an ideal range for board size, rather than establishing a fixed number … Continued
Governance and Management
UPDATE – IRS Issues Guidance on Employee Parking and Unrelated Business Taxable Income for Nonprofit Organizations
When the Tax Cuts and Jobs Act (TCJA) was signed into law in December 2017, it amended Section 274 and Section 512 of the Internal Revenue Code (Code) and opened the door for the potential of nonprofit organizations generating unrelated business taxable income (UBTI) due to the parking they provide to their employees.
The City of Atlanta has gotten a great deal of unwanted publicity since it fell victim to a ransomware attack in March 2018.
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.
There has-been increased attention given to Other Post-Employment Benefits (OPEB) reporting by standard-setters, elected officials, and government accountants over the past few years.
“I welcome change, as long as nothing is altered or different.”
If you ask management and board members of nonprofit organizations to identify the issues keeping them up at night, an IRS audit/examination probably isn’t on their top ten list.
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.
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.