Posted by Michael H. Abernathy Jr., CPA In a world of constantly changing donor demographics, nonprofit organizations need to be innovative when it comes to fundraising. According to a research study done by the Pew Research Center, millennials surpassed both boomers and gen-x’ers in 2016 to become the largest generational cohort in the U.S. workforce; this makes a societal wealth … Continued
The City of Atlanta has gotten a great deal of unwanted publicity since it fell victim to a ransomware attack in March 2018.
The power of suggestion is everywhere and studies have shown that our expectations of others affect how they perform.
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.
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.
In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-03, Interest: Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs as part of their initiative to reduce complexity in the accounting standards.
The 21st Century Cures Act, signed into law on December 13, 2016, allows qualifying small employers, including qualifying nonprofit employers, to maintain health reimbursement arrangements (HRAs) for the purpose of reimbursing employees the cost of insurance premiums purchased on their own.
In August 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-14, Not-for-Profit Entities, with the intent of providing more useful information to donors, grantors, creditors, and other users of not-for-profit (NFP) financial statements.
There is a German proverb that goes, “He who saves in little things, can be liberal in great ones.”
Contributions are a large source of revenue for many nonprofits. When your nonprofit organization receives a charitable contribution, we know you want to thank the donor as soon as possible and send them an acknowledgment letter. Before you mail out that letter, consider the following facts about gifts from donor-advised funds.