Nonprofit Issues Newsletter, August 2022
Nonprofit Board Governance: Goals and Responsibilities
Nonprofit board governance often is not fully understood by nonprofit management and even board members themselves. But effective nonprofit boards play a vital role in ensuring their organization’s overall operational and financial health.
Our new article series on board governance is designed to help nonprofit leaders and board members understand the role boards should play and identify what good board governance entails, starting with a look at effective goals and responsibilities.
Inflation’s Ripple Effect on Nonprofits and Their Employees: Part Two
Many nonprofit organizations may have originally thought that the impact of inflation might be short-lived. However, as inflation has continued, organizations have had to make unavoidable decisions about compensation.
Recent research provides data on inflation’s impact on nonprofits, particularly as it pertains to employee compensation. Here are some key insights and considerations.
Implementing the New Accounting Standard for Leases: Part Four
In this final installment in our article series about implementing the new accounting standard for leases, ASC 842, we walk through the transition guidance for adopting the new standard and discuss the key financial statement presentation and disclosure provisions. This will provide you with the final action items for adopting ASC 842. Read more.
And don’t miss our free webcast, “Untangling Leases: A Step-by-Step Guide to Implementing ASC 842,” on September 29! Learn more and register here.
Lessons Learned from Data Breaches
With more and more data breaches happening, organizations are determining how to best address the issue and move forward.
All nonprofits are at risk of being impacted by a data breach at their organization or a key vendor. And in the wake of a breach, there are numerous audit, tax, and cybersecurity considerations. This article addresses some of those considerations and steps you can take to better prepare your organization for the future.
New IRS Sign-in Process for Form 990-N Filers
Starting in August 2022, the IRS has implemented a new sign-in process for nonprofit entities that file Form 990-N, Electronic Notice for Tax-Exempt Organizations (e-Postcard). Learn about the new process here.
Educators Can Deduct Up to $300 in Out-of-Pocket Classroom Expenses in 2022
For 2022, the maximum expense deduction eligible educators may take for qualifying out-of-pocket classroom expenses has increased to $300, even if they take the standard deduction. This is the first time the educator expense deduction has increased since it was enacted in 2002, at $250. Read more.
New E-Book Now Available: The Church Financial Field Guide
The Church Financial Field Guide explains seven costly mistakes churches make and how you can avoid them to maximize your ministry’s impact. Download your free copy for insights and practical steps.
Don’t Miss Our Free Cyber Series Webcast on Cyber Insurance
Understanding the ins and outs of cyber insurance can be challenging. Register for our free CapinTech Cyber Series webcast on August 31 to learn what cyber insurance could look like for your organization, what it does and does not cover, and the typical requirements to obtain it. Learn more and register.
CapinCrouse Named a Top 200 Firm for the Sixth Consecutive Year
We are honored to have been designated a Top 200 Firm by INSIDE Public Accounting (IPA) for the sixth consecutive year, moving up 10 spots on the list from 2021. The annual ranking recognizes the 200 largest accounting firms in the United States, based on net revenue.
We sincerely appreciate our dedicated nonprofit clients and team members who serve with excellence every day and make our continued growth possible!Sign up for e-news and alerts