Thought Leadership
When it comes to thought leadership and staying informed, we’ve got you covered. See below for recent articles, webinars, and downloadable resources available.
Want updates like these sent directly to your inbox?
April 26, 2022
By: Tom Skoog, Cybersecurity & Data Management Practice Leader Last month, we introduced the concept and importance of Incident Response Plans as part of overall cybersecurity. As stated previously, The National Institute of Standards and Technology (NIST) has developed a framework all incident response plans should consider, including: Preparation Detection & Analysis Containment & Eradication […]
April 04, 2022
By: Tom Skoog, Cybersecurity & Data Management Practice Leader Over the years, we have highlighted several steps businesses and nonprofits can take to reduce the risk of a cyberattack. Most of these initiatives previously discussed are designed to prevent or significantly reduce the chance that your organization becomes a victim of a cyberattack. However, no […]
March 14, 2022
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 […]
February 22, 2022
By: Holly Fields, CPA, Senior Manager In 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 – Leases (Topic ASC 842). For non-public not-for-profit entities, this ASU is effective for fiscal years beginning after December 15, 2021 (i.e., calendar year 2022 for entities with a December 31 year-end). Whether your not-for-profit […]
February 01, 2022
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 […]
January 20, 2022
Has your charitable organization moved in the last year? Have you had a significant change in use of property? If your organization is located in Indiana, and you answered yes to either, you likely need to file a new Form 136 Application for Property Tax Exemption. Indiana Code exempts from tax real property and business […]
January 04, 2022
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 […]
December 16, 2021
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 […]
November 29, 2021
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 of 2020 and was extended and expanded with the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which passed in December 2020. An […]
November 18, 2021
Part VII of the Form 990 is one of the more closely examined and highly scrutinized sections of an exempt organization’s tax return, both from the public and potential donors as well as other organizations and businesses. This is mainly because this section reports compensation for the listed individuals. For this reason, it is important […]
October 26, 2021
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 […]
August 11, 2021
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. […]
July 13, 2021
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 […]
July 08, 2021
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 […]
June 02, 2021
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 […]
Webinars
March 31, 2023
By Nancy Orben, CPA, Senior Manager, Laura Philpot, Senior Accountant, Business Services, and Lisa Totten, Senior Accounting Specialist at Blue & Co. Attention all not-for-profit organizations! Are you currently using QuickBooks Point of Sale in your gift shops, ticket sales, or day-to-day business? If so, you may have heard the recent news that Intuit will […]
March 14, 2023
Trusted Insights from The National Bank of Indianapolis Nonprofit Services Team Not-for-profit organizations are increasingly falling victim to fraud, with a rising number of incidents and an ever-growing amount of money being lost. Fraudsters find it easy to target not-for-profits, as their publicly available 990s provide valuable information. Protecting your organization from such fraudulent activities […]
February 20, 2023
By: Mike Gricius, Senior Manager at Blue & Co. While not-for-profits rely heavily on grants and donations to fund their charitable missions, they can also explore other funding options, such as Program-Related Investments (PRIs). PRIs offer a unique opportunity for not-for-profit entities to invest in a way that generates both social impact and financial returns. […]
February 01, 2023
By: Kandy Wischmeier, CPA, Tax Manager at Blue & Co. If your not-for-profit organization is located in Indiana and has had a significant change in the use of property, has moved in the last year, or is a new entity, you may be required to file Form 136, Application for Property Tax Exemption. Entities are […]
January 10, 2023
By: Rick Shields, Principal, CPA, CFE Effective January 1, 2023, Kentucky implemented numerous changes to its sales tax laws. Historically, not-for-profits have been able to take advantage of numerous Kentucky sales tax exemptions. In practice, that has allowed not-for-profits to operate as though sales tax does not apply to their operations. Kentucky has been expanding […]
December 14, 2022
By: Ryan Adams, Manager, CPA The process of creating not-for-profit (NFP) budgets can be overwhelming. One can argue that the NFP’s budget can be even more challenging to prepare than a budget for a business enterprise. The NFP may provide goods and services in addition to receiving donations with or without restrictions or conditions, government […]
