Not-for-Profit Blog

Blogs September 15, 2016 Are You Protecting Your “Good Standing”?

While not-for-profits are certainly answerable to the IRS, they also have distinct reporting responsibilities at the state level. In fact, most states require not-for-profits that are organized as corporations to file annual reports or updates, inclu…

Blogs August 18, 2016 The Final Rule – The New Overtime Regulations

In May 2016, the U.S. Department of Labor published its long-awaited Final Rule revising the standards needed to meet the new white collar exemptions. The Final Rule is the DOL's first major revision to white collar exemptions since 2004 and will res…

Blogs July 15, 2016 Proposed Amendments to New York’s Not-for-Profit Corporation Law Awaiting Governor’s Signature

The New York State Assembly and Senate passed bill A.10365-B/S.7913-B, amending the current Not-for-Profit Corporation Law and the Estates, Powers and Trusts Law to clarify and refine some of the changes to both laws effected as part of the 2013 New …

Blogs June 23, 2016 Pennsylvania Volunteer Clearance Requirements

For volunteers age 18 or older, criminal background checks and child abuse clearances are required if the individual volunteers with a child care service activity or service responsible for a child’s welfare or having a direct volunteer contact with …

Blogs June 15, 2016 FASB Update for Private Companies and Not-for-Profit Organizations Webcast

The Financial Accounting Standards Board is offering a webcast to provide an update on the FASB’s standards projects pertaining to private companies and not-for-profit organizations.

Blogs April 06, 2016 FASB Issues New Guidance on Lease Accounting

FASB issued its new lease accounting guidance in Accounting Standards Update No. 2016-02, Leases (Topic 842). The new ASU will require lessees to recognize the following for all leases with terms of more than 12 months at the commencement date.

Blogs April 06, 2016 The New World of the Computer Hacker

Publicized cybercrime cases make most people think that cybercrime risk only comes from far away and involves a breach of massive amounts of data. Threats from within the organization (even a not-for-profit) are often a bigger danger and are sometime…

Blogs March 14, 2016 IRS Tax Exempt Priorities for 2016

The IRS Exempt Organization Division has made compliance and enforcement a major priority. Here are the major IRS priorities concerning the oversight of existing tax exempt organizations. The emerging areas of risk include non-exempt charitable trust…

Blogs March 03, 2016 Should Our Not-for-Profit Organization Have a Gift Acceptance Policy?

Perhaps driven by a question on Schedule M of the federal Form 990, boards have been considering whether a gift acceptance policy is desirable for not-for-profits they serve. Here are some of the benefits and considerations for adopting/updating a Gi…