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Given the breadth of changes being suggested in the current exposure draft, respondents have been given a comment period of 120 days, ending August 20, 2015. Anyone interested in weighing in on the proposed changes is allowed to submit comments.

Form 990 Schedule G might look like the Not-For-Profit organization lost money on the event. Information on Form 990 including an explanation of each line such as gross receipts, less contributions, gross income and direct expenses. Accounting staff needs to be involved in the reporting.

The Players listed on the Form 990 and what each of the positions entail. Parts of Form 990 and Schedule J are controversial because the reader can see each individual's compensation and benefits. Form 990 includes this to enhance the transparency of nonprofit organizations.

Our Form 990 blog series includes compensation and benefits that have to be listed for each of the players involved in a nonprofit organization in Part VII of the core Form 990. Common reasons why the info for Form 990 Part VII would NOT be the same as the info in Part IX.

The Patient Protection and Affordable Care Act of 2010 imposes a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund the Patient-Centered Outcomes Research Institute (PCORI), an independent, not-for-profit organization created to conduct res

The FASB Nonprofit Advisory Committee continues to examine financial reporting and its relevance to the not-for-profit marketplace. The FASB NAC agenda may have an impact on the financial reporting practices in the not-for-profit sector. FASB’s review of donor restrictions.

FASB Account Standards Update titled Services Received from Personnel of an Affiliate that amends revenue recognition guidance for not-for-profits. Effective for fiscal years beginning after June 15, 2014 and early adoption is permitted. Learn more about the FASB update for not-for-profits.

EisnerAmper’s Not-for-Profit Services Group presented at the AICPA National Governmental and Not-for-Profit Training Program. Topics include IRS Workplan what’s new for the Form 990 series, internal controls in small environments and fraud case studies.

The EisnerAmper Not-for-Profit, Tax and Private Business Services groups teamed up to volunteer at various charities throughout New York City, resulting in a rewarding experience for team members and help and support for these charities.

If your not-for-profit is required to have an OMB Circular A-133 audit, you are required to submit your not-for-profit’s Single Audit reporting package to the Federal Audit Clearinghouse (FAC) via the Data Collection Form.

The IRS continues to make progress towards paperless filings; the latest change impacts both Forms 990 and 990-EZ. If a Form 990 or 990-EZ is being filed for a tax year beginning on or after July 2, 2019, it must be filed electronically (with limited exceptions).

What your auditor should communicate to your Not-for-Profit. The auditor and a not-for-profit organization’s board of directors and management should communicate before, during and after fieldwork to make sure the audit progresses smoothly. Blog series on the Not-for-Profit audit.

What should your auditor be communicating to you and your Not-for-Profit organization? What should happen at the end of your not- for-profit organization’s annual audit once the financial statements and the auditor’s report have been prepared signed and delivered.

The Communication of Internal Control Related Matters Identified in an Audit SAS 115 letter. At the end of your not-for-profit organization’s annual audit by your auditor, matters related to internal control over financial reporting identified in an audit of financial statements should be communicated.

The federal Form 990-PF has remained relatively unchanged for many years, unlike the federal Form 990. However, with the recent finalization of the 2013 Form 990-PF instructions, the IRS has implemented a significant change regarding the classification of grantee recipients.

Balancing a Not-for-Profit Budget. A balanced budget is based on sound principles but it can be unnecessarily limiting for some not-for-profits. Understand your not-for-profit’s financial objectives when preparing the organization’s budget.

Webinar Maintaining a Qualified 403(b) Retirement Plan. Providing a retirement plan for your nonprofit employees is an important employee benefit. Maintaining a Qualified 403(b) Retirement Plan webinar provides participants with an introduction to 403(b) plans and features common to 403(b) plans.

New 2013 data collection form and Federal Audit Clearinghouse website. Applicable for audit periods ending in 2013, 2014 and 2015. The Federal Audit Clearinghouse has launched a new Internet Data Entry System that will bring other changes. Audit questions and answers.

GuideStar Exchange will allow nonprofit organizations to change their GuideStar profile for the People and Governance section. The goal of the GuideStar Exchange is to enable GuideStar users to have a deeper understanding of the governance structure of nonprofit organizations.

  Web scanning can play a significant role in maintaining compliance and identifying vulnerabilities—here’s how.