Nonprofit Accounting Basics

Recent Articles

Form 990 Preparation Tips

Originally Posted: July 17, 2020

As anyone who has had to compile information for the Form 990 knows, what the IRS is requesting is exceptionally time consuming to put together.   If your organization is subject to an au

Whose Money is it? Recording Contributions Held for Others

Originally Posted: June 25, 2020

Winter is here, and many organizations are preparing for the rush of year-end grants and contributions.

Interim Stimulus Plan

Originally Posted: June 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

Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

Originally Posted: June 2, 2020

As part of FASB’s ongoing initiative to improve the effectiveness of the notes to the financial statements, modifications were made to the fair value measurement disclosures.  On August 28, 20

Cybercriminals Exploit COVID-19 – Don’t Become A Victim

Originally Posted: May 21, 2020

In response to COVID-19, many organizations are using a Virtual Private Network (VPN) and the related IT infrastructure to shift their workforce to teleworking.

Elements of Successful Nonprofit Cybersecurity

Originally Posted: May 14, 2020

Nonprofits are more reliant on technology than ever before to deliver on their mission.

Accounting Standards Updates (ASU) 2019 Effective Date Reminder

Originally Posted: April 30, 2020

This Effective Date Reminder lists only those pronouncements issued as of November 1, 2019.

ASU 2014-09 Revenue from Contracts with Customers (Topic 606)

Coronavirus Aid Relief for Tax-Exempt Organizations

Originally Posted: April 1, 2020

CARES Act provisions affecting exempt organizations and their donors

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the

Nonprofit Resources for Remote Work During the COVID-19 Outbreak

Originally Posted: March 23, 2020

As the number of COVID-19 cases continues to rise in the

IRS Guidance Released for Tax-Exempt Organizations to Claim Credit/Refund for Fringe Transportation Benefits Tax

Originally Posted: March 17, 2020

On January 21, the IRS issued guidance for how not-for-profit organizations can claim a refund or credit for unrelated business income tax related to fringe transportation benefits, for which they

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