Nonprofit Accounting Basics

Recent Articles

IRS Releases Guidance on Taxable Parking Expenses and Provides Relief for Some Organizations

The Tax Cuts and Jobs Act passed by Congress in 2017 (the Act) contains a provision making qualified transportation fringes (QTFs) nondeductible to taxpayers (IRC Section 274(a)(4)).

Foreign Filings

Exempt organizations (EOs) may be required to provide information on its activities conducted outside the United States on a number of information forms, including Form 990.  These reporting r

IRS Issues Guidance on Calculating UBTI Under the New Tax Law

The IRS has issued long-awaited guidance regarding the calculation of unrelated business taxable income (“UBTI”) for exempt organizations under the new tax law.

Pre-Award Risk Assessments - Looking for Financial Sustainability

Pre-award risk assessments are a relatively new phenomenon in the Federal Grants marketplace.

Per Diem vs. Accountable Plans: Determining the Best Approach

One of the most frustrating internal control processes for accountants and auditors alike is the dreaded company credit card and employee expense reimbursements.  You might be thinking, let’s

FASB Clarifies and Improves Guidance for Not-for-Profit Grant and Contribution Accounting

On June 21, 2018, the Financial Accounting Standards Board (FASB) has issued accounting standards update (ASU) No.

Tax Alert: IRS Issues Guidance Eliminating Schedule B for Many Organizations

The Treasury Department has issued new guidance which eliminates the requirement to disclose the names and addresses of donors for a large swath of exempt organizations.

Preparing for ASU 2016-4: A Checklist and Glossary

Preparing for ASU 2016-4

The New Tax Bill – What Nonprofits Should Know Right Now

With this new tax bill comes sweeping changes that potentially impact all U.S. taxpayers, including exempt organizations.