Nonprofit Issues Newsletter, June 2022
The Global Center for Nonprofit Excellence Joins CapinCrouse
We are very pleased to announce that The Global Center for Nonprofit Excellence has joined CapinCrouse, effective June 22, 2022.
The Center’s mission is to help nonprofits, funders, and industry experts work better together for the greatest impact and achieve operational excellence. Its OpX360® online assessment tool helps nonprofits identify operational competency levels and provides recommendations for excellence in six key areas of operations. Learn more.
Implementing the New Accounting Standard for Leases: Part Three
The third article in our series about the new accounting standard for leases, ASC 842, walks through the key decisions that affect the accounting for each of your lease contracts. It also covers completing the initial and subsequent measurements based on those decisions and the underlying contracts. Read more.
The CapinCrouse Lease Toolkit is designed to assist you with implementing the new standard. Access your free copy here.
Inflation’s Ripple Effect on Nonprofits and Their Employees
Inflation is top of mind for every employer, employee, consumer, and producer right now. Employers are scrambling to make tough decisions while employees request wages they consider fair amid marketplace uncertainty and increasing costs for basic necessities.
Consider these steps as you work to balance the effects of inflation at your organization.
How We Work Isn’t Working: 5 Principles to Help Improve Culture and Effectiveness at Your Nonprofit
Although it may feel like it is becoming increasingly difficult for your nonprofit to provide services to those in need with a dwindling and exhausted workforce, there is hope!
Integrating these five principles into your strategic planning can have a drastic impact on your organization’s culture and effectiveness.
QuickBooks: The End of an Era or the Start of a New Opportunity?
Intuit, the parent company of QuickBooks, has discontinued access to add-on services for QuickBooks Desktop for Windows 2019 as of June 1, 2022, and is no longer providing support or security updates for the software.
While we know this change may cause concern for long-time QuickBooks Desktop users, it’s also a good opportunity to assess your organization’s needs and options. Here’s what to consider.
IRS Raises the Standard Mileage Rate for the Second Half of 2022
The IRS has made a rare midyear increase to the optional standard mileage rate to better reflect recent changes in fuel prices. Effective July 1, 2022, the standard mileage rate for business travel and the medical mileage rate will increase by four cents per mile. The charitable mileage rate is not changing.
Read more and download our updated Key Federal Tax Summary here.
Congratulations to Our New Partners
Daren Daiga, Chris Purnell, and Logan Sharrett have been admitted as partners in the firm effective June 1, 2022. Each of these outstanding professionals serves our nonprofit clients, the firm, and their communities with distinction. Read more.
Compliance Trends Affecting Higher Education Institutions
The changes and challenges higher education institutions navigate include several regulatory updates regarding compliance.
Learn about the impact of these changes and how they will affect institutions in 2022 and beyond.