Accurate functional expense reporting helps organizations build trust and support mission-driven decision making Functional expense allocations are a vital component of financial reporting for not-for-profit organizations. Proper allocation and documentation…
…provisions of ASC 842 that a not-for-profit organization might see only occasionally, which may make the organization uncertain of the appropriate guidance. Free rent If an organization is fortunate enough…
…and its implications for for-profit entities, see our November 2024 analysis: For-Profit Businesses: FASB Proposes Accounting Changes for Government Grants. Step 4: Map grant terms to the framework Once the…
…non-cash donations 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….
Charitable Giving and Tax Planning Insights Many nonprofit organizations have a need to acquire real estate for use in its mission but may not have the funds to pay full…
…of the legislation is critical. In this article, we will unpack the key provisions of H.R.1 and explore its potential effects on nonprofit operations and philanthropy. Key nonprofit related provisions…
Understanding how to classify not-for-profit funding sources Navigating the landscape of not-for-profit accounting presents unique complexities and challenges, requiring careful attention to the nuanced treatment of various funding sources. One…
…Non-Profits As previously written, ASC 842 offered private companies and not-for-profit organizations a practical expedient in selecting a discount rate in the adoption of the new standard. While public business…
…gift stores of nonprofit museums generally must collect and report the tax on their sales of tangible personal property. VIRGINIA Tax Requirements on Not-for-Profit Seasonal Sales Nonprofit organizations need to…
…experience with auditing procedures, financial reporting, business process reviews, and evaluation of internal controls. Her clients include for-profit and non-for-profit entities. Macy is a member of the Not-For-Profit industry team….
…2018-67 and 85 FR 23172 make clear that EOs are well advised to evaluate their existing methodologies and develop an implementation plan that incorporates guidance received so far. Keiter’s Not-for-Profit…
…the audit process, financial reporting, and Sarbanes-Oxley set-up and testing. She serves clients in a variety of industries including insurance brokers, not-for-profit, manufacturing and distribution. In addition, she is a…