Not-for-Profit

Many of your donors are now in the process of preparing their 2014 tax returns. You may also have just completed or are still preparing acknowledgement letters thanking them for their 2014 contributions. We know you are aware of the need for such letters. You may not, however, be aware of the dire consequences that may be in store for your donors if the letters aren’t received timely or are not written in accordance with stringent IRS guidelines

Like many businesses in the for-profit sector, nonprofit organizations need to ensure they are continuing to comply with the Affordable Care Act (ACA). Organizations that fail to comply may face stiff penalties.

In December 2014, the Obama administration finalized the Office of Management and Budget’s (OMB’s) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, commonly referred to as the Uniform Guidance. The rules are effective for new awards made on or after December 26, 2014. The Uniform Guidance has been described as historic reform that will make long-term changes to the federal government’s financial assistance programs. There are several key policy reforms