Nonprofit Issues Newsletter, June 2023
Thinking About Accepting a Federal Award? Read This First.
Federal awards (grants or contracts) can be appealing to nonprofit entities, including higher education institutions, voluntary health and welfare organizations, and churches. However, the administrative requirements for federal funds can be time-consuming and even burdensome in some cases.
Here are some important factors to think through before accepting a federal award.
Activating Your Church Building for Greater Community Impact: Key Considerations
Has your church considered how you could use your buildings to increase your community impact during the week?
With the right planning and steps, many churches have the opportunity to optimize their buildings for purposes beyond the typical Sunday uses. And this can be accomplished in a financially sustainable way. Learn how.
OMB Compliance Updates for Higher Education Institutions
Learn about recent key Office of Management and Budget (OMB) compliance updates as they apply to higher education institutions in this AICPA article by Lisa R. Saul, Partner and Uniform Guidance Director at CapinCrouse, and Allison Ward, Partner at CapinTech.
Lisa and Allison discuss the importance of understanding your grant agreements, common findings related to Title IV programs, Pell and Federal Direct Loan reconciliations, and more.
Pay Transparency — Is Your Organization Ready?
In recent years, society has been pushing organizations to be more transparent when it comes to the disclosure of salary information during the job application process or even in the workplace. This trend will likely grow in the future.
This article outlines the most common pay transparency requirements adopted by various states and localities.
The Inflation Reduction Act of 2022: New Incentives for Your College or University
Thanks to the Inflation Reduction Act of 2022, colleges and universities now have access to the financial incentives of investing in renewable energy as they renovate existing structures or build new ones.
Learn more about these incentives and focal points for higher education institutions.
Insight on Church Fraud
Fraud happens at all types of organizations, including churches. A recent article in The Alabama Baptist Newspaper highlights fraud control considerations that CapinCrouse Partners Nathan Salsbery and Kenneth Tan shared during a recent Evangelical Council for Financial Accountability (ECFA) webinar. You can read the article here.
Join Us at a Free Webcast This Summer
We’re offering free webcasts on a range of topics in the coming months. Click on a title to learn more and register!
- The Seven Elements of Effective Compliance in a Complex World – Learn how to mitigate compliance risks and implement an effective compliance and ethics program. Tuesday, July 18 at 1 p.m. EDT.
- How to Boost Employee Retention and Well-being Through Data and Health Plan Optimization – Join us for an in-depth look at how higher education institutions can use data to measure and understand their current costs and explore innovative strategies to help employees optimize their health plan use. Wednesday, August 9 at 1 p.m. EDT.
- CapinTech Cyber Series: 18 Critical Security Controls – Part 2 – We’ll discuss important security controls for nonprofits and how to apply them within your organization. Wednesday, August 30 at 1 p.m. EDT. You can watch the recording of Part 1 in this series here.
Congratulations to Our New Partners
Lisa Wabby and Mark Pate have been admitted as partners in the firm effective June 1, 2023. These two outstanding professionals serve our nonprofit clients, the firm, and their communities with distinction. Learn more.
The Fiscal Responsibility Act and the Employee Retention Credit
While the new Fiscal Responsibility Act of 2023 rescinds unobligated COVID-19 relief funds, it does not appear to affect the Employee Retention Credit. Our recent email alert explains.
Indiana Enacts Updated Sales Tax Rules Exempting Churches and Some Nonprofits
Under Indiana’s new sales tax rules, which go into effect on July 1, 2023, churches and some nonprofit organizations will be exempt from collecting sales tax on all sales of tangible personal property. Get the details here.
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