fbpx

Category: Not-for-Profit Industry

< Back to Thought Leadership

Updated Deadlines for Single Audit: Is Yours Approaching?

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 […]

Read More

On-Demand Webinar: NFP Revenue Sources – Earned Revenue

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 […]

Read More

Flexible Budgeting for Not-for-Profits

Organizational budgeting is far from a simple process, and this is especially true for those in nonprofit leadership. There are often many complexities to consider when developing a financial plan capable of carrying the mission forward into the next fiscal year and, certainly, the added challenges of the COVID-19 pandemic have not made this task […]

Read More

Understanding Your Options if Your Organization Fails the Public Support Calculation

If your organization is exempt under section 170(b)(1)(A)(vi), section 170(b)(1)(A)(iv) or section 509(a)(2) of the IRS code, it must annually meet one of two public support calculation tests (shown on Form 990, Schedule A) to maintain its publicly supported status: The organization is over 33 1/3% publicly supported. This means that 33 1/3% or more […]

Read More

Statement of Functional Expenses: Three Steps for Accurate Expense Allocations

An area of common concern for not-for-profit organizations is how to best allocate certain expenses among the various functions between management and general activities, program services and other supporting activities like fundraising and membership development. Users of your financial statements, and of course your auditors, will want to ensure that expenses that are not directly […]

Read More

Columbus CEO Talks Cybersecurity and Data Management with Blue & Co.

The following article was made available and moderated by Ray Paprocki, publisher and general manager at Columbus CEO. In this article, Ray interviews Tom Skoog, the Cybersecurity and Data Management practice leader at Blue & Co., LLC. Columbus CEO Virtual Roundtable: Cybersecurity The U.S. government recently blamed the Russians for a major hack of federal […]

Read More

2020 Compliance Supplement Addendum Issued and Extensions Granted

On December 22, 2020, the Office of Management and Budget (OMB) issued the 2020 Compliance Supplement Addendum (Supplement Addendum). The Supplement Addendum provides guidance on auditing Coronavirus Aid, Relief, and Economic Security (CARES) Act money and other COVID-19 relief programs. The addendum has the same effective date as the original August 2020 Compliance Supplement for […]

Read More

New Requirements for Not-for-Profits Reporting Contributed Nonfinancial Assets

As we continue through the first part of a new year, it is important to be reminded of a new Accounting Standards Update (ASU) that has been issued by the Financial Accounting Standards Board (FASB). In September 2020, FASB issued ASU 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. This new standard […]

Read More

Indiana Sales Tax Changes for Nonprofits

By: Angela Crawford, CPA, Senior Manager The recently enacted Senate Enrolled Act (SEA) 382 (2022) makes significant changes in the way not-for-profit organizations purchase and sell items exempt from sales tax. Sales tax information Bulletin 10 has been revised to reflect these changes. While sales tax-specific changes are detailed within the bulletin, here are the […]

Learn More
Facility Emergency Department Leveling | Stethoscope laying on top of financial reports | Blue & Co., LLC

Is Your Current Facility Emergency Department Leveling Process Working?

Blue & Co. has performed many Emergency Department Leveling Reviews for hospitals. The two most utilized leveling criteria are “points-based” or “intervention-based.” In either case, each hospital must determine which facility resources (or attributes) to include within its criteria, and how these resources crosswalk into ED visit levels (99281-99285). This can create significant reimbursement differences […]

Learn More
Cybersecurity in the Construction Industry

Cybersecurity in the Construction Industry

By: Tom Skoog, Cybersecurity & Data Management Practice Leader Cybersecurity for the construction industry is a growing challenge. The industry is moving towards digital connectivity, not only across the supply chain, but also ‘on site’ as more metrics related to performance, progress, and health & safety are monitored in ‘real time’. This increase in connectivity […]

Learn More