Not-for-Profit

Five Reasons Your Organization Needs an Audit Committee

Success for not-for-profits (NFPs), regardless of their type or size, is built on a firm foundation of fiscal accountability and governance. NFPs can access expertise in these areas – and in the process more successfully fulfill their strategic goals – by leveraging the knowledge and experience of audit committees.

Your nonprofit’s bylaws

Has your organization outgrown its bylaws? Sometimes, as a nonprofit expands and matures, the guiding rules set when it was just a twinkle in its founders’ eyes need to be revisited and brought up to date. Revising your bylaws involves more than just altering the language of rarely visited documents. The process provides you with an opportunity to look closely at how your nonprofit is evolving and whether such developments are consistent with your original mission.

Congress rolls back burdensome UBIT on transportation benefits

A much-hated tax on not-for-profit organizations is on the way out. At the end of 2019, Congress repealed a provision of 2017’s Tax Cuts and Jobs Act (TCJA) that triggered the unrelated...

New Revenue Recognition Standard

The Financial Accounting Standards Board (FASB) wanted to improve comparability and consistencies across entities and industries, and improve the usefulness of financial statements through...

The Tax Cut and Jobs Act (TCJA) Summaries

This article provides you with quick access to special studies written around the Tax Cuts and Jobs Act changes.

Newsbits: Do most nonprofits benefit from mergers?

88% of nonprofits involved in a merger felt that their organization was better off post merger in terms of achieving organizational goals and increasing impact.

Newsbits: IRS releases FY 2016 compliance results

In its Tax Exempt and Government Entities FY 2017 Work Plan, the IRS reported on the nearly 5,000 examinations of exempt organizations it conducted in the 2016 fiscal year.

Newsbit: Nonprofit hiring challenges

According to this year’s Nonprofit Employment Practices Survey™ from Nonprofit HR and GuideStar, the ability to pay competitive wages ranks as the top staffing challenge faced by nonprofits for the fifth consecutive year.

Newsbits: Microsoft offers nonprofits free cloud services

Microsoft’s philanthropic arm has announced that it’ll donate $1 billion in cloud computing resources over the next three years to nonprofits and nongovernmental organizations worldwide.

Making sense of FASB’s new accounting standard for nonprofits

The FASB recently released its first update to the financial reporting rules for nonprofits since 1993. The new Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, will affect the financial statements of most nonprofits when it takes effect. This article explains the standard’s new net asset classes, how liquidity and available resources reporting has changed, and the new requirements for reporting expenses and investment return. How to present operating cash flows is also briefly discussed. A sidebar outlines the FASB’s goals for the new standard.

Nonprofit Trends: The 2016 M+R Benchmarks Study

The 2016 M+R Benchmarks Study reveals how rapidly the nonprofit universe is changing in the face of online fundraising, marketing, and advocacy efforts. Currently in its tenth year, the study’s goal is to look at how nonprofits and their supporters are behaving today to help them prepare for changes in the future.