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, 2021
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 […]
April 05, 2021
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 […]
March 16, 2021
The Employee Retention Credit (ERC) is a refundable payroll tax credit that your tax-exempt organization may be eligible for. The credit was originally enacted with the CARES Act in March of 2020 and was extended and expanded with the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which passed in December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 additional […]
March 08, 2021
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 […]
February 23, 2021
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 […]
February 15, 2021
This session was hosted by Blue & Co. and Ashley|Rountree and Associates on Thursday, February 25 from 12:00 p.m. to 1:00 p.m. EST. This webinar is Maximizing and Accounting for Not-For-Profit Revenue Sources. This webinar is part of a two-part series discussing unique funding opportunities and issues related to revenue sources for not-for-profit organizations. The […]
February 10, 2021
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 […]
January 22, 2021
At the end of December 2020, the second round of the Paycheck Protection Program (PPP) funding passed under the Economic Aid Act which provides additional relief to not-for-profit organizations. In addition to the expansion of the program to include 501(c)(6) organizations, not-for-profit organizations that received the first PPP loan are now eligible to receive […]
January 04, 2021
At the close of 2020, new legislation provided some relief for not-for-profit organizations. Here are the highlights. Charitable Deduction: The $300 ($600 for married filing jointly) charitable deduction for non-itemizers provided under the CARES Act is extended through 2021. Further, the corporate charitable deduction limit will continue to be 25% of taxable income, instead of […]
December 15, 2020
The IRS has issued final regulations regarding Internal Revenue Code section 512(a)(6). These regulations have been published in the Federal Register and are effective as of December 2, 2020. Section 512(a)(6) was enacted with the 2017 Tax Cuts and Jobs Act and requires tax-exempt organizations to calculate unrelated business income tax (UBIT) separately for each […]
December 11, 2020
It’s webinar season at Blue & Co., LLC.! Check out all of our upcoming events for the week of December, 14. Monday, December 14 Panel Discussion Regarding Paycheck Protection Program (PPP) Webinar – Free to attend On Monday, December 14 from noon – 1 p.m. EST, Blue & Co., LLC will be hosting a panel […]
November 23, 2020
As we near year-end, not-for-profit organizations may see a rise in non-cash stock gifts as donors plan their holiday giving and/or meet with their tax advisors to maximize tax saving strategies for the current year. Unlike cash gifts, non-cash gifts such as stock often cause concern and pose questions for nonprofits. For example: How is […]
November 03, 2020
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 […]
October 13, 2020
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. […]
October 08, 2020
In 2020, nonprofit organizations met unprecedented challenges resulting from COVID-19. Join local nonprofit leaders for a panel discussion on how they managed change for their organization in 2020 and how they will use their experiences to plan for 2021 and beyond. During this session, Erin Hedges, Founder & President of Hedges will moderate a discussion […]
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 […]
