Article 3 in a 3 part series Nonprofit Accounting Considerations for Digital Asset Donations As cryptocurrency and other digital assets have soared in popularity, many not-for-profit organizations have started considering…
…the lessor shall disclose which line items include lease income in the statement of comprehensive income. A lessor shall present any profit or loss on the lease recognized at the…
…– Goodwill and Other (Topic 350): Accounting Alternative for Evaluating Triggering Events (“ASU 2021-03”) attempts to simplify the goodwill triggering event evaluation process for private companies and not-for-profit entities. Existing…
…interest policy for your nonprofit, please contact your not-for-profit Keiter Opportunity Advisor. Our not-for-profit team is well versed in these and other not-for-profit best practices. More resources for strong not-for-profit…
…event recordkeeping specific to your not-for-profit organization? Contact your Keiter Opportunity Advisor or Email | Call: 804.747.0000. Our not-for-profit team is well versed in these and other not-for-profit accounting considerations….
…Many non-profits have multiple types of fixed assets, such as vehicles, equipment, buildings, building improvements, and furniture. While many non-profit organizations use a single threshold for a one-size-fits all policy,…
…non-profit tax engagements Manage a diverse portfolio of non-profit clients across multiple industries and sectors Provide strategic guidance on complex tax matters including unrelated business income, exempt status, and state…
Tax Exempt Organizations Expecting Refunds Due to the Nonprofit Parking Tax Repeal On December 20, 2019, the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the “Act”), was signed…
…with results that may portend future changes to US accounting standards. The Not-for-Profit Advisory Council The Not-for-Profit Advisory Council (“NAC”) was established in October 2009 and serves as an advisory…
Single Audit Update for Not-for-Profit Organizations Background of OMB A-133 Compliance Supplement Each year, the Federal Government provides over $400 billion in grants to State, local and tribal governments, colleges,…
…endowments made up of held-to-maturity investments. CECL is effective for non-profits for fiscal years beginning in 2023. Background In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards…
By Keiter CPAs | Not-for-Profit Team Not-for-profit organizations can benefit from charitable contribution incentives included in The CARES Act On March 27, 2020, President Trump signed into law the Coronavirus…