Featured Articles

Rebecca Schorling
Jun 25, 2020

Winter is here, and many organizations are preparing for the rush of year-end grants and contributions. The appropriate recording of these grants and contributions will vary based on the terms of the agreements and the donors’ intentions. One instance an organization may encounter is a contribution in which a donor specifies a beneficiary. On these occasions, it may be unclear whose revenue the contribution belongs to, the recipient’s or the beneficiary’s. Is the contribution merely restricted or could it be a contribution held for others?

 

Patricia A. O'Malley, CPA
Jun 11, 2020

Last week the Interim Stimulus Plan was passed by Congress and signed by President Trump as an amendment to the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act.  The main provisions applicable to nonprofit organizations relate to the additional funding of the Payroll Protection Plan (PPP) and the SBA’s Economic Injury Disaster Loan (EIDL) Program.

Subscribe to Front page feed