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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.

Millennials currently comprise of 80 million people who possess the most buying power of any generation and they are crucial to the future success of not-for-profits. Here are a few things to keep in mind when cultivating this increasingly influential group.

Before investing a not-for-profit’s funds, the board of directors, with management’s assistance, should strongly consider developing an investment policy and there are some basic fundamentals of a sound investment policy.

An organization may maintain its tax-exempt status even if it has unrelated business activity; however, it may be liable for tax on its unrelated business income. This tax is referred to as unrelated business income tax (“UBIT”).

There are certain activities that can jeopardize an organization’s 501(c)(3), and therefore their tax exempt status. It is important to be familiar with these topics in order to avoid risking your organization’s ability to fulfill its mission.

Governor Wolf signed two bills on December 22, 2017. Both Acts amend the Solicitation of Funds for Charitable Purposes Act to affect several important Pennsylvania Department of State Bureau of Corporations and Charitable Organizations processes.

Your not-for-profit organization should review its 403(b) plan and the number of participants annually to ensure that it is in compliance with the proper filing and auditing requirements.

The IRS has issued an alert regarding a scam from last year that targeted companies and this year is setting its sights on schools and not-for-profits. There are several things not-for-profits can do when it comes to this type of cyber fraud.

EisnerAmper partner MG and senior manager Cindy Feder recently wrote an in-depth article about the Tax Cuts and Jobs Act and its provisions that could have far-reaching impact on tax exempt organizations and charitable giving.

Succession is key to sustainability. Succession planning should start at the board level, yet only 34% of not-for-profits reported having a succession plan in place. Not having an effective succession plan could adversely impact donor funding.

Many not-for-profit organizations continue to be soft targets for fraud and are often at a disadvantage due to their limited resources. Those organizations lacking stronger controls and experienced staff could set the stage for fraud.

Adequate insurance coverage is important to protect a not-for-profit from major disruptions to its operations, yet many not-for-profit boards of directors may not be familiar with the types of insurance coverage available to their organizations.

According to the IRS, there are 7 scenarios where a private foundation would be considered engaging in self-dealing. In order to avoid an audit and potential penalties, it is imperative foundations understand what these are.

There are several tips to help Not-for-Profits mitigate fraud including developing a fraud prevention policy with procedures and guidelines, do self-audits, and use an independent auditor.