Many special events, such as dinners, galas, auctions, and walk-a-thons, are organized to raise contributions to support the organization’s activities.
While neither charity auctions nor the various rules governing them are new, we receive numerous questions about them and observe many examples of inadequate auction procedures by both large and sm
Exempt organizations, both large and small, are relying more and more on a variety of corporate sponsorships to provide much-needed support for events and programs.
Tax-filing season may have just ended but it’s always a good time to make sure that your organization is following the IRS donation “substantiation rules” so that your benefactors will have the pro
Statement of Financial Account Standards 116 (FASB116) is the primary guidance relating to the recording of contribution revenue by not-for-profit organizations (NFPs).
The Omnibus Budget Reconciliation Act of 1993 (or “OBRA93”) contained two major provisions affecting charities and their donors by introducing the "substantiation" and "disclosure" requirements.
As if planning for a fundraising event, such as a silent auction or an annual dinner, wasn’t already one of the busiest times on the calendar for a charity organization, there is the required recor
On May 28, 2014, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) issued substantially converged final standards on revenue recognition.
