Nonprofits Warned About Email Scam
According to published reports, a number of organizations have received emails from an individual in England who was unknown to the organizations and offered a donation of approximately $30,000. Learn how this scam works.
Public Confidence in Nonprofits Varies
Statistics to consider when you complete your next Form 990 or draft your next annual report, along with information on how CapinCrouse can help.
The IRS Takes These Board Financial Responsibilities Seriously – Do You?
If you serve on the board of an organization, you’ve probably heard the term “fiduciary responsibility” and know that it applies to your role as a board member. Yet you may not be aware of exactly what that involves for board members of not-for-profit organizations.
Renewed Attack on Minister’s Housing Allowance
April 20, 2016 - On April 6, 2016, the Freedom From Religion Foundation renewed its attack on the minister's housing allowance by filing a complaint. This is only the first step in what will probably be a several-year court proceeding.
The Top 10 Year-End Fiscal Tasks
Performing these simple steps throughout the year will result in your year-end financial close being similar to any other month-end, rather than a stressful and time-consuming event.
Nonprofit Issues Newsletter, Spring 2016
Learn how to create and implement an effective ERM strategy, correctly allocate joint costs, benefit from micro-donations, and assess the health of your church. Plus Newsbits on the FASB Not-for-Profit Financial Statements Project, new guidance on lease accounting, a phishing scheme involving W-2s, and more.
The OMB Rule on Indirect Costs: What You Need to Know
The Office of Management and Budget’s Uniform Guidance (the Omni Circular) has brought sweeping changes for nonprofits that receive federal funding. Nonprofits need to get up to speed on their rights and responsibilities under the rule — to avoid forfeiting reimbursement dollars.
Minister’s Housing Allowance and Retirement Plan Contributions
The minister's housing allowance is a unique tax component that can provide substantial benefit to qualifying employees. However, many nonprofits don’t realize that including this nontaxable allowance when calculating retirement plan contributions could have significant consequences. Here's what you need to know.
FASB Issues New Guidance on Lease Accounting
On February 25, 2016, the FASB issued an Accounting Standards Update (ASU) on financial reporting for leasing transactions. Here are some helpful resources.
FASB Not-For-Profit Financial Statements Project Update
The Financial Accounting Standards Board (FASB) Exposure Draft issued in 2015 will be addressed by the Board in two phases. The following identifies the components of tentative board decisions to date.