This two-part series will provide information about in-kind gifts, including the definition and recognition of such gifts and in the second article, the documentation best practices and impact on tax […]
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During 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2018-08 Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made to clarify […]
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Recently, Kentucky House Bill 487 passed, which contained significant changes to Kentucky tax laws. For purposes of this communication, we would like to highlight one major change regarding Kentucky Sales Tax […]
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Provisions in the Tax Cuts and Jobs Act (TCJA), passed late in December 2017, eliminated the deductibility of qualified transportation expenses incurred by business employers. After December 31, 2017, amounts […]
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The #MeToo Movement, which is an international movement against sexual harassment and assault, has spread across nearly every major industry like wildfire. People might assume that this problem would be […]
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In addition to the “tone at the top,” an important part of having an effective internal control is segregation of duties. Adequate segregation of duties requires certain key functions to […]
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Nonprofit organizations have various sources of revenue, and one of the trickiest areas of financial reporting for a nonprofit organization is distinguishing an item as a contribution or an exchange […]
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Intermediate sanctions sound fairly scary. In reality, regulations and penalties are equally scary, so the name is appropriate. Intermediate sanction regulations and penalties exist to stop abuses by disqualified persons […]
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A nonprofit entity is required to maintain proper records to ensure the organization complies with tax rules and regulations. If an organization is unable to provide supporting documentation proving qualification […]
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The Indiana State Board of Accounts (SBA) has the responsibility of examining the accounts and financial records for all state entities and entities receiving public money within the state of […]
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Many Continuing Care Retirement Communities (CCRCs) and Life Plan Communities (LPCs) are facing complex and dynamic challenges. In addition to the significant pressure of supporting an aging baby boomer population, […]
Entity-owned pharmacies are an important consideration for hospitals, community health centers, and other 340B grantee types. As retail pharmacy closures rise and the complexities of the 340B Drug Discount Program […]
By Joel Barnett, Technical Account Executive at Blue Pioneer Consulting and Holly Fields, CPA, Senior Manager at Blue & Co. Not-for-profit organizations handle sensitive data every day, which make them […]
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