…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 policy election is…
…profit organizations as part of its “A Bright Future Serving the Community” campaign. The donations mark the conclusion of a year-long celebration honoring the firm’s 40th anniversary of serving clients…
…Additional Not-for-Profit Accounting Resources: Financial Statements of Not-For-Profits: Changes to Net Asset Classifications( Part I) Financial Statements of Not-For-Profits: Changes to Net Asset Classifications (Part II) Functional Expense Allocation Methods…
…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….
…Questions on unrelated business income tax? We can help. Contact a member of the Not-For-Profit team or Email | 804.747.0000 Additonal Not-For-Profit Resources: How will the General Data Protection Regulation…
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…
…changes. Contact your Keiter representative or Email | Call: 804.747.0000. Additional Not-for-Profit Resources How Not-for-Profits Can Pursue Refunds from Repealed “Parking Tax” The Cares Act New Incentives for Charitable Contributions…
…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…
…profit. However, notwithstanding the statutory definition of “gross receipts” there are actually some deductions and exclusions from taxable “gross receipts.” A careful review and consideration of these may help reduce…