Nonprofit Accounting Basics

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Presentation and Disclosure Requirements in ASU 2020-07 for Gifts-in-Kind

Originally Posted: December 30, 2021

The Financial Accounting Standards Board (FASB) has issued an accounting standards update ASU No.

Lila Leno, CPA, MBA

Calibre CPA Group

Public Support Tests: Why You Might Prefer Public Charity to Private Foundation

Originally Posted: December 10, 2021

While the Internal Revenue Code Section 501(c) lists 29 different types of nonprofit organizations, most tax-exempt organizations are those described in Section 501(c)(3) and have a charitable, rel

Richard J. Locastro, CPA, JD

GRF CPAs & Advisors

Jan McDaid, CPA

Han Group LLC

Bhavin Patel, CPA

Councilor, Buchanan & Mitchell, P.C. (CBM) – CPAs & Business Advisors

Capital Budgets Play an Important Role in Nonprofit Planning

Originally Posted: November 26, 2021

Annual operating budgets for nonprofit organizations will always be center stage, drawing the attention of senior management, Board, and staff.

Example Criteria for Major Decisions: A Strategy Screen

Originally Posted: November 19, 2021
General
 
  • The proposed action must align with the organization’s core mission.
  • The proposed action must serve all or a substantial subset of the organization’s

Examples of Decision-Making Procedures

Originally Posted: November 19, 2021
  • Define the decision to be made.
  • Set a specific deadline by which the decision needs to be made.
  • Identify who should be involved in the process and whether board approval will b

Decision Making Policy Example

Originally Posted: November 19, 2021

ORG Decision-making Policy

To promote making good decisions, ORG adopts the following principles:

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