Written by Joell Grisel, CPA, Manager, and Thomas Koustenis, Tax Intern Online payment services such as Venmo, PayPal, and many others, are more common than ever, especially for the sale of goods and services. While no banks or hard currency are involved in these transactions, these digital payments for goods and services are still considered […]
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By: Ryan Adams, CPA, Manager Before nonprofit organizations were required to implement Accounting Standards Update No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, uncovering the amount of assets that were both liquid and available from an organization’s financial statements was often an insurmountable task. While it was true that one could ascertain the amount […]
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By: Sara Jacobi, CPA CEPA Director Still waiting for your 2021 Federal tax refund? Tried calling the IRS, only to wait on hold for two hours without talking to anyone? Sent correspondence to the IRS to resolve a notice, only to continue to receive collection notices? If one or more of these items apply to […]
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By: Jason Terwilliger, CPA, CIA, Manager Communication is a cornerstone of any effective team of individuals working together to achieve common goals. This is especially true for the accounting and development departments in nonprofit organizations. When it comes to accurately reporting on an organization’s financial position, both accounting and development have important roles. Development staff […]
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By: Rick Shields, CPA, CFE, Principal Not-for-profit (NFP) organizations often operate in an environment of affiliates with the assumption that all entities are part of one overall unit. This may be correct, however, as with many aspects of accounting, it is not as simple as it may seem on the surface. Below is an introductory […]
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Establishing an endowment fund is a big step forward for an organization. It demonstrates that the organization is serious about helping the community through its charitable work well into the future and is taking the necessary steps to ensure that future. An organization with an endowment fund is a beacon to potential donors that want […]
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Overview The Employee Retention Credit (ERC) is a refundable payroll tax credit your not-for-profit (NFP) organization may be eligible to claim. The ERC was originally enacted with the CARES Act in March 2020 and was extended and expanded with the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which was passed in December 2020. […]
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On March 19, 2021, the Office of Management and Budget issued memorandum M-21-20 (the Memo), providing an automatic six-month extension for all single audit filings for fiscal year ends through June 30, 2021 (Appendix 3, part IX, of the Memo). For reference, here is a short list of those approaching: As mentioned above, the extension […]
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According to a study by the University of Maryland, cyber-attacks happen on average every 39 seconds. Blue & Co. hosted a webinar on Tuesday, July 13 from 12:00 p.m. to 1:00 p.m. EST entitled Cybersecurity & Data Management Best Practices for Nonprofit Organizations. Andrew Brock, CPA, sat down with two of Blue & Co.’s cybersecurity and […]
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Blue & Co. and Ashley|Rountree and Associates hosted a webinar on Thursday, June 10 from 12:00 p.m. to 1:00 p.m. EST entitled Not-for-Profit Revenue Sources – Earned Revenue. This is the second webinar in a two-part series. During the second part of the series, we will discuss unique opportunities where not-for-profit organizations can generate earned income, along with […]
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CARMEL, Ind. (May 5, 2022) – Blue & Co., LLC is excited to announce our new partnership with Vsimple, a workflow management software company based in New Albany, IN. Blue & Co and Vsimple will be working closely together to address the workflow and process improvement challenges of manufacturers throughout the Midwest. “At Blue & […]
It is that time of year again! The Center for Medicare and Medicaid Services (CMS) has issued the proposed rule that would update Medicare payment policies and rates for the fiscal year (FY) 2023’s Skilled Nursing Facility (SNF) Prospective Payment System (PPS). The Patient Driven Payment Model (PDPM) was implemented on October 1, 2019. This […]
One of the most challenging conversations in any multi-physician practice or specialty-based hospital employed group is about how to create a fair distribution of on-call and/or inpatient hospital service coverage while balancing the duties of an outpatient practice. The COVID-19 pandemic has contributed to clinician burnout, and physicians and Advanced Practice Providers (APPs) place significant […]
