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Blair spoke with host Nicole Petallides and another guest on the economic impacts of the tragic Key Bridge collapse in Baltimore.

A tax-exempt organization that has $1,000 or more of gross income from an unrelated business must file Form 990-T. Form 990T has been completely redesigned with many of the changes relating to the new regulations under TCJA.

This content takes a look at some of the changes to the 2020 Form 990.

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.

This article offers an overview of the changes for 2020 of which filers of Form 990-PF need to be aware.

Discussion of the proposed regulations surrounding a not-for-profit’s reporting of contributed non-financial assets or “gifts-in-kind” – i.e., land, buildings, materials and supplies, food, clothing, etc.

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

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.

Notes on claiming a refund or credit in conjunction with the repeal of the unrelated business income tax (“UBIT”) on qualified transportation benefits.

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.

The FASB has issued ASU 2018-08, Topic 958, Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made. Practitioners may be surprised to learn that transactions once considered 'exchange-type' may in fact have been contributions all along.

The Tax Cuts and Jobs Act contains a provision that requires tax-exempt organizations to recognize as income certain fringe benefits offered to their employees and pay a tax on that unrelated business income (UBI). Here's how and why these fringe benefits will now result in UBI.

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.

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.

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.

Passage of the Tax Cuts and Jobs Act has many leaders of tax-exempt organizations seeking answers as to whether and how the new law will affect them. And most will be affected. Here's why.

The New Jersey Division of Consumer Affairs (NJ DCA) has changed the way forms and extensions are filed to an online process, an adjustment that will impact all tax-exempt organizations that file New Jersey registration statements.

The Tax Cuts and Jobs Act will incorporate major changes to personal and corporate income taxes, estate taxes, and other changes to laws that will impact tax exempt organizations, bond financing, charitable contributions and excise taxes.