Nonprofit

If you are a nonprofit school serving students in any grade K-12, you may be eligible for EANS

What is EANS? Emergency Assistance for Nonpublic Schools (EANS) is part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (CRRSA Act), the second federal economic stimulus package recently passed. The CRRSA Act created a fund that was...

Guest Article: WHERE STORIES, DONATIONS, AND QUARANTINE LIFE MEET

If I told you to hire my company, you would look at what we do and make a decision but if we told you the full story of our background you would learn more of the heart and soul of our product or service. This is so important today, to so many people, more than ever....

AUDIT COMMITTEE BOOTCAMP WRAP UP

In the fall of 2020, we presented a three-part webinar series, Audit Committee Bootcamp. We created this webinar series to bring important information about the audit committee and its roles and responsibilities to light. The information we shared was broken out in...

News Flash! Exempt Organizations may actually have to pay income tax

UBIT. Pronounced “you-bit.” It’s one of seemingly millions of acronyms that not-for-profit organizations (let’s add another one, NFP’s) have probably heard of, but don’t know much about. It stands for unrelated business income tax, and it’s an area of the Internal...

GIFTS IN KIND – NEW RULES

Many nonprofit organizations rely not just on donations of cash and stock, but also on the donation of in-kind contributions. Food pantries see a large portion of their donations in the form of food, around the holidays toys and gift cards are high on the list, and...

NY State DOL Changes Unemployment Regulations

Employers received some good news on January 14, 2021, with an extra big bonus for certain nonprofit organizations that are self-insured for unemployment insurance. As part of the CARES Act, the federal government agreed to cover 50% of the unemployment responsibility...

Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-09 – Revenue Recognition – Not-for-profit (“NFP”) entities (including private schools )

Nonprofit organizations are required to adopt the new revenue recognition standards during 2021. For schools, this means that if they haven’t already early adopted the new standard, they will need to adopt it for the 2020/2021 fiscal year. The new revenue recognition...

Nonprofit Trends 2021

Ken Cerini, CPA, CFP, FABFA, discussed trends in the nonprofit sector in: Marketing, Fundraising, Operations, Technology, and much more!

OMIG Changes Certification Requirements

According to the OMIG website, providers that receive Medicaid payments no longer have to perform an annual certification with the OMIG each December.

New CFR Claiming Manual and Software

In case you didn’t hear, the new CFR claiming manual and related software have been released. This is for CFRs for the year ended June 30, 2020. The NYS-issued CFR software is available for download on the CFRS Home Page. Due to the late release of the CFR software,...
Employee Retention Tax Credit (ERTC)

Employee Retention Tax Credit (ERTC)

Most organizations have taken advantage of the PPP loans, which have been instrumental in helping organizations stay afloat during the pandemic. Many agencies, however, are not aware of the Employee Retention Tax Credit (ERTC). The ERTC was part of the original CARES...

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BEWARE NEW LEASE ACCOUNTING RULES…

BEWARE NEW LEASE ACCOUNTING RULES…

The accounting world is never dull, despite what outward appearances and unfair stereotypes may lead one to believe. The Financial Accounting Standards Board (FASB) continually strives to improve the transparency, usefulness, and understandability of financial...

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The Next Normal

The Next Normal

As we emerged from 2020 into 2021, there were high hopes that we were returning to some level of normalcy. COVID vaccines were, restrictions were loosening up, and employees were starting to go back to work. It seemed we had weathered the storm. Fast forward eight...

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Board Responsibilities

Board Responsibilities

Every nonprofit organization has a board of directors. Every nonprofit organization also has key management personnel. The board of directors govern the organization and its management to ensure that the mission of the nonprofit is being met and it is management’s...

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Arts & Culture – Employee Retention Tax Credit (ERTC)

Arts & Culture – Employee Retention Tax Credit (ERTC)

Most organizations have taken advantage of Paycheck Protection Program (PPP) loans since the initial passage of the CARES Act in early 2020. This rings especially true for those in the arts and culture area, which has experienced tremendous downturns in revenue due to...

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Shuttered Venue Operators Grant

Shuttered Venue Operators Grant

The Shuttered Venue Operators Grant (SVOG) program was established to aid venues, performing arts centers, museum operators, movie theaters, and similar organizations affected by the COVID-19 pandemic. This program includes over $16 billion to be distributed by the...

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Cerini Nonprofit Connection: Vaccination Policies

Cerini Nonprofit Connection: Vaccination Policies

July 2021 Cerini Nonprofit Connection Topic: Vaccination Policies Ken Cerini and guests Susan Kreeger, CEO/Founder of RealHR and Doug Rowe, Partner of Certilman Balin covered workplace vaccination policies - both from an HR and legal perspective! (inforamtion as of...

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NFP Update 2021

NFP Update 2021

June 29, 2021 Cerini & Associates, LLP, a leader in providing accounting and auditing services to nonprofits, held their virtual annual Nonprofit Update conference virtually. The major focus during this half-day training was on what the “Next Normal” for the...

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