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...
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Category: Nonprofit
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...
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AUDIT COMMITTEE BOOTCAMP WRAP UP
In the fall of 2020, we presented a three-part webinar series, Audit Committee Bootcamp. We...
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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...
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GIFTS IN KIND – NEW RULES
Many nonprofit organizations rely not just on donations of cash and stock, but also on the...
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NY State DOL Changes Unemployment Regulations
Employers received some good news on January 14, 2021, with an extra big bonus for certain...
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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....
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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.
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New CFR Claiming Manual and Software
In case you didn’t hear, the new CFR claiming manual and related software have been released. This...
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IRS Issues Crucial New Guidance on Deduction of PPP Expenses
Following up on Notice 2020-32 issued in May 2020, the IRS has released Revenue Ruling 2020-27 & Revenue Procedure 2050-51 to provide guidance to taxpayers in relation to deductions for expenses covered by the Paycheck Protection Program (PPP) loans.
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SBA Necessity Questionnaire Released for Borrowers with PPP Loans Over $2,000,000
In what is likely the first step in the audit process for borrowers that received Paycheck...
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Navigating Effectiveness
During July 2020, Charity Navigator launched the Encompass Rating System. The purpose of Encompass was to provide improved comparability of differently sized nonprofit organizations, and to provide a more comprehensive assessment of the overall effectiveness of nonprofit organizations.
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