2020 has been a difficult year for nonprofit organizations. Challenges include declining revenues from donor contributions and government funding, as well as increased demand for services due to the economic impacts of the pandemic. This year, more than most, for nonprofit organizations to survive in today’s economy, cutting expenses and strategic collaborations will help ensure […]
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Planning and budgeting for future years can be difficult even in times of stability. With the COVID-19 pandemic and all of the other economic changes we’ve seen in 2020, planning for the future of your Organization might seem more daunting than ever. However, planning for the upcoming periods is likely more important than ever before. […]
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On September 19th HHS released updated reporting guidelines for CARES act funding from General and Targeted distributions. Included in this announcement is a shift in the definition and calculation of “Lost Revenues”. Previous announcements and attestations indicated Provider Relief Funds (PRF) could report their use by either lost revenues or costs incurred to treat, prepare, […]
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Effective January 1, 2021, hospitals must comply with HHS’ new hospital price transparency rule that requires facilities to create and maintain a public list of their standard charges, including private payer-negotiated rates, for 300 “shoppable” services. The American Hospital Association (AHA) and others have argued that the requirement for disclosing private payer rates exceeds the […]
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Did you know that as of March 27, 2020, most Required Minimum Distributions (RMDs) were waived for the 2020 calendar year? That means that if you normally take an RMD from your IRA or business retirement plan, except for pension plans, you are not required to take that distribution for 2020. In most cases, if […]
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The Centers for Medicare & Medicaid Services (CMS) operates within a budget neutral approach. This occurs at the same time the healthcare community continues to try and find balance between reducing administrative burdens, accurately recognizing and recording services provided, and upholding the highest quality care possible. Over the last three years, there have been significant […]
Carmel, Ind. (November 23, 2022) – The accounting and consulting firms of Alerding CPA Group (Indianapolis, Ind.) and Blue & Co., LLC (Carmel, Ind.) have announced their merger. The combined firm will operate as Blue & Co., LLC (Blue & Co.), effective December 1, 2022. This acquisition will provide Blue & Co. with greater market […]
By: Holly Fields, CPA, Senior Manager Not-for-profit organizations (NFPs) that receive federal financial assistance over certain levels, either directly from a federal agency or indirectly through state or local agencies, may be required to have a single audit performed under Federal Uniform Guidance. Single Audit Requirements A single audit includes not only an audit of […]
