Nonprofit Resources
Important Reminder: HEERF Annual Reporting Due March 24, 2023
March 14, 2023 - The next round of Higher Education Emergency Relief Fund (HEERF) required annual reporting for Year 3 (January 1, 2022, to December 31, 2022), is due no later than March 24, 2023, for institutions that expended HEERF grant awards during this time frame.
Required Disclosure Regarding Cash Deposits in Excess of FDIC Insurance
March 13, 2023 - In light of the current questions being raised about the U.S. banking system, organizations should be aware of the importance of the required financial statement disclosure regarding cash deposits in excess of FDIC insurance. This disclosure provides the required information regarding an organization’s cash deposits in excess of the federally insured amounts.
Free Enhanced Online Access to U.S. Accounting Rules Now Available
March 6, 2023 - Free enhanced online access to accounting rules developed by the Financial Accounting Standards Board and the Governmental Accounting Standards Board is now available. This includes advanced features for searching, navigating, copying and pasting, and printing.
Nonprofit Issues Newsletter, February 2023
February 28, 2023 - Insight about the current economic forecast and the impact of inflation on nonprofits, recent IRS updates, additional guidance on Pell Grant and Direct Loan reconciliation, and more.
Webcast for Churches: The Church Financial Field Guide – Costly Mistakes to Avoid, Part 1
February 28, 2023 - From managing budgets like nothing has changed to ignoring vulnerabilities that lead to fraud, we explain common and costly mistakes to avoid and provide practical steps you can take as you work to maximize your ministry’s impact.
Economic Forecast and Impact of Inflation on Revenue and Compensation
February 27, 2023 - Nonprofit leaders need to make strategic decisions amid ongoing uncertainty. Here are key takeaways from our recent discussion about the current economic forecast and the impact of inflation on investments, contributions, and employee compensation.
Requirements for Mandatory Direct Loan Reconciliations
February 21, 2023 - Learn about the mandatory reconciliation requirements for the Federal Direct Loan Program, including the types of reconciliations and their frequency and resolution.
Requirements for Pell Grant Reconciliations
February 21, 2023 - Information to help higher education financial aid and business offices understand the requirement for reconciling the Federal Pell Grant Program.
IRS Provides Clarification on the Qualified Appraisal Requirement for Cryptocurrency Contributions
February 27, 2023 - Although cryptocurrency may be traded on an exchange with readily available market quotations, the IRS’s position is that cryptocurrency is not a security and gifts of cryptocurrency must be substantiated by a qualified appraisal.
Key Federal Tax Figures for 2023
January 18, 2023 - Our 2023 Key Federal Tax Figures summary is designed to be a helpful reference tool throughout the year. Download or print your free copy.