Not-for-Profit Blog

A discussion of the provision in the 2020 spending bill that changes the current excise tax rate from a two-tiered structure to a single flat-tax rate and how it applies to private foundations.

A discussion of the spending bill recently signed by the president that includes a provision reversing the 21% unrelated business income tax (“UBIT”) on qualified transportation.

An examination of how cybersecurity can be one of the most valuable assets an organization can have -- if it is secured and regularly monitored by the organization.

There are steps controllers and audit committees can take to make the audit process run more smoothly and make their organizations more ‘audit-ready.’

In June 2018, the FASB issued Accounting Standards Update (ASU) 2018-08, “Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made” which will have a profound impact on not-for-profit organizations.

Separation of duties is a crucial part of any organization’s system of internal controls. Organizations should strive to have some separation and these strategies should be implemented so that the controls will be strengthened with new personnel.

People are more likely to donate money to an organization they trust, and having a financial statement audit is one way not-for-profit organizations can build trust as an independent audit of a not-for-profit entity provides integrity.

After the Treasury Department and the IRS received many questions regarding how to determine the amount of parking expenses that is nondeductible as well as treated as unrelated business taxable income (UBTI), the IRS has issued Notice 2018-99.

By providing more detailed information regarding liquidity, financial performance and cash flows, the new ASU 2016-14 standards to improve the transparency of not-for-profits as well as make their financial statements more valuable for users.