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Tag Archives: NFP Fraternal

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Not-for-Profit Single Audit Requirements – Evaluation of Revenue Sources

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 […]

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Accounting for and Disclosure of Crypto Assets for Nonprofits

By: Andrew Brock, CPA, Senior Manager Diversification through crypto assets, including cryptocurrency or other digital assets, in an organization’s investment portfolio, has become a more prevalent conversation, especially over the past couple of years, in light of some of the performance in these types of investments. It is a conversation that has organizations wondering if […]

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Accounting Software Considerations for Nonprofit and Government Organizations

By: Rick Shields, CPA, CFE, Principal Few people outside the nonprofit accounting world have an appreciation for its complexities, and how they apply regardless of the amount. A person may say, “The organization has total revenues of $3 million, how difficult could it be?” Those who work in the field on a daily basis are […]

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2022 AICPA Not-For-Profit Industry Conference – Key Takeaways

By: Annmarie Novotney, CPA, Director Earlier this year, several members of our Blue & Co. Not-for-Profit Services Team attended the 2022 AICPA Not-For-Profit Industry Conference.  The annual conference covers key accounting, auditing, and tax issues as well as emerging updates related to the not-for-profit industry. This conference is extremely helpful to both industry professionals and […]

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Ohio Scholarship Granting Organization (SGO) Tax Credit

By: Bob Findley, CPA, Director and Sam Bass, CPA, Staff Accountant In September 2021, Ohio enacted section 5747.73 of the Ohio Revised Code, which allows a tax credit for individuals and businesses who make a qualified donation to a Scholarship Granting Organization (SGO) certified by the Ohio Attorney General. How does this impact your nonprofit […]

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Indiana Scholarship Granting Organization (SGO) Tax Credit

By: Doug Hasler. CPA. Director An Indiana Scholarship Granting Organization (SGO) is an organization that awards school scholarships to eligible students. Qualified SGOs receive funding for school scholarships from private, charitable donations. Those who have donated to an SGO that has been certified by the Indiana Department of Education (IDOE) will then be eligible to […]

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The Importance of Incident Response Plans – Lessons Learned

By: Tom Skoog, Cybersecurity & Data Management Practice Leader “Those who fail to learn from history are doomed to repeat it.”  Sir Winston Churchill This is our fifth and final article in our five-part series on the importance of incident response planning as part of your cybersecurity program. As a reminder, the concept of Incident […]

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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 […]

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The Importance of Incident Response Plans – Recovery

By: Tom Skoog, Cybersecurity & Data Management Practice Leader This is our fourth article in a five-part series on the importance of incident response planning as part of your cybersecurity program. The purpose of an Incident Response Plan is to proactively plan the actions you will take if you are faced with a serious cybersecurity […]

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The Importance of Incident Response Plans – Containment & Eradication

By: Tom Skoog, Cybersecurity & Data Management Practice Leader This is the third installment in our five-part series on the importance of incident response planning as part of your cybersecurity program. The purpose of an Incident Response Plan is to proactively plan the actions you will take if you are faced with a serious cybersecurity […]

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