Nonprofit Resources


Nonprofit Issues Newsletter, June 2024

This issue covers forensic accounting, the amended Title IV regulations, outsourced accounting services, the new bipartisan Clergy Act, school voucher program considerations for K-12 schools, and more.


What is Forensic Accounting – and When Might Your Nonprofit Need It?

Fraud is a crucial topic for nonprofit leaders to address. Knowing your options for investigating and responding to suspected or alleged fraud now — before fraud occurs — can help your organization respond quickly and effectively if it does.

This includes understanding what forensic accounting is and when your organization might benefit from this specialized service.


Overview of the Amended Title IV Regulations

The amended Title IV regulations are effective July 1, 2024. If your higher education institution receives Title IV funds, we recommend that you familiarize yourself with these regulations now to ensure compliance.

Check out our summaries of the amended financial responsibility regulations and mandatory and discretionary triggering events.


Outsourced Accounting Services Considerations and Benefits

The accounting and financial operations requirements for nonprofit entities are unique, complex, and ever-changing, and necessitate specialized knowledge.

Many organizations are considering outsourced accounting services to help increase their efficiency and maximize their resources. Learn about key considerations and potential benefits for churches, educational institutions, and other nonprofits.


Bipartisan Clergy Act Introduced in the Senate

Two U.S. senators have introduced legislation beneficial to pastors reconsidering previous choices that affect their retirement.

If it passes, the proposed Clergy Act would give ministers who opted to exempt out of the Social Security system a temporary window to revoke their exemption and re-enter the system beginning in 2026. Learn more with this article from the Evangelical Council for Financial Accountability (ECFA).


School Voucher Program Considerations for Private K-12 Schools

With the increase in school voucher or school choice programs in the U.S., private K-12 schools must weigh the potential opportunities, challenges, and risks these programs pose for their institutions.

Here are key takeaways from a recent panel discussion on this topic with Council on Education Standards & Accountability (CESA) member schools.



Treasury Department and IRS Provide FAQs Regarding Educational Assistance Programs

The U.S. Department of the Treasury and the IRS have published frequently asked questions (FAQs) related to educational assistance programs under section 127 of the Internal Revenue Code, known as section 127 educational assistance programs.

The FAQs, which are available here, include useful information for employers that offer these programs and employees who participate in them. Please contact us with any questions.


Join Our Free Cyber Series Webcast on Incident Management

In today’s unpredictable world, nonprofits must be prepared for a variety of incidents — including cyberattacks. Register for our free CapinTech Cyber Series Webcast on Incident Management on Wednesday, July 17 at 1 p.m. EDT. You’ll gain practical steps, strategies, and considerations for developing an incident management plan.

You can learn more and register here.


2024 OMB Compliance Supplement Now Available

The 2024 Compliance Supplement, which applies to entities subject to audits in accordance with 2 CFR Part 200, has been released by the U.S. Office of Management and Budget (OMB). Our recent email alert provides a summary of key updates.


Congratulations to Our New Partners

We are pleased to announce that Nathan Davis, Courtney Gregory, Mark Hepner, Jeremy Landon, Ashley Peabody, and Ryan Smith have been admitted as partners in the firm effective June 1, 2024. These six outstanding professionals are dedicated to serving our nonprofit clients and the firm with excellence. Learn more.


Benefit from Specialized Insight and Expertise

Since the firm was founded 52 years ago, CapinCrouse has been devoted to serving nonprofit organizations whose outcomes are measured in lives changed. Today we serve over 1,600 nonprofit clients nationwide, and we are the largest accounting firm in the country exclusively serving nonprofit organizations, based on INSIDE Public Accounting data.

Our comprehensive audit, tax, consulting, and cybersecurity services are tailored to the unique requirements and challenges of nonprofit entities. Please reach out to us at any time to discuss your organization’s specific needs or any questions you have. You can also access a wide range of informative free resources on our website and follow us on LinkedIn for updates, event information, and more.

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