Nonprofit Accounting Basics

Recent Articles

Taxability of Credit Card Cashback Rewards

Most credit card companies offer some form of reward program to market their card and build customer loyalty.

Phishing and Spoofing Attacks Growing Ever More Common

You know the scam; someone in a foreign country has inherited a large sum of money and needs your help to get the money delivered to them.

Three Key Financial Mistakes that Financial Stewards Often Make

As stewards of critical resources that allow faith-based organizations to survive and do the good works they are called to do, those in position of managing the finances of religious organizations

Defending from the Ransomware Threat

Every time I teach a seminar on IT Security Preparedness one question always comes up: “Why is someone writing these malware programs and trying to install them on my computer?” and my answer is al

Beyond the Donor Acknowledgement Letter: Forms 8282 and 8283

Your charity just received a donation of a painting valued at $6,000.

Mission Trips and the IRS

An important part of outreach for many religious organizations are mission trips.  It is an exciting opportunity for missioners to live into their faith by working in partnership with those th

Get Smart About Art Donations

Non-cash Contributions

The OMB Rule on Indirect Costs: What You Need to Know

The Office of Management and Budget’s Uniform Guidance (the Omni Circular) has brought sweeping changes for nonprofits that receive federal funding.

New Financial Reporting Standards for Nonprofits

The Financial Accounting Standards Board (FASB) has issued Accounting Standard Update (ASU) 2016-14.  This ASU is intended to update, not overhaul, the current financial statement model to imp

Three Easy Ways to Safeguard Your Church's Assets

As church members, we probably do not want to entertain the idea that the people handling the church finances could be dishonest.