Nonprofit Accounting Basics

Recent Articles

Policy Development Outline for Small and Midsize Nonprofit Organizations

The following steps are designed to prompt responses that can become the components of a gift acceptance policy that can serve as a guideline for staff and board.  

Drafting a Gift Acceptance Policy

A gift acceptance policy explains an organization’s position on accepting both cash and non-cash gifts and outlines any prohibitions on the type of donor or donations to be accepted by the organiza

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

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

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

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

Capital Budgets Play an Important Role in Nonprofit Planning

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

Auditor’s Reports Will Soon Look Different

Auditor’s reports will look different for audits of financial statements for periods ending on or after December 15, 2020.

Lobbying and Political Activities Chart

Nonprofits are allowed to lobby, but the type of nonprofit determines the level of lobbying allowed.  Some nonprofits can engage in political activity, but not all are allowed that flexibility

Remote Work Reinforces the Need for Appropriate Cybersecurity

The abrupt shift to virtual operations during the COVID-19 pandemic exposed the vulnerabilities of some nonprofit organizations and resulted in a painful ‘lesson learned’ for others.

The Basics of Nonprofit Dissolution

Weathering the storm of major disruptions financial disruptions is a challenge for all organizations.

Lobbying Requirements Comparison Chart