On February 10, 2020, the Financial Accounting Standards Board (FASB) issued a Proposed Accounting Standards Update (ASU) “Presentation and Disclosure by Not-for-Profit Entities for Contributed Nonfinancial Assets” designed to improve transparency […]
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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 […]
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Having sound governance policies to accomplish an organization’s mission encourages operational and managerial efficiency. Organizations that receive more than $25,000 in non-cash contributions are required to file a Schedule M […]
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While the Further Consolidated Appropriations Act, 2020 (Act) brought about extensions for certain credits and deductions, it also brought the following two changes for exempt organizations: Parking Tax Retroactively Repealed […]
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When your favorite time of year rolls around (completing your organization’s Form 990, of course!), it can be difficult to know what you should be providing to your tax return […]
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Update published on June 5, 2020: FASB issued Accounting Standards Update (ASU) 2020-05, Revenue from Contracts with Customers (ASC 606) and Leases (ASC 842) Effective Dates for Certain Entities, as part of […]
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Did you know that just because a nonprofit organization is exempt from income tax, does not automatically qualify it to be exempt from property taxes? A general rule is that […]
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On September 10, 2019, proposed REG-102508-16 was issued to end the reporting of names and addresses of substantial contributors listed on Schedule B of Form 990 or Form 990-EZ for […]
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A strong board of directors will oversee implementation of strategic objectives for the organization, but also has ultimate responsibility and liability. Building a strong board of directors is challenging, yet […]
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It’s pretty well known that exempt organizations’ current Form 990s or equivalent filings (990-EZ, 990-PF, etc.) are required to be available for public inspection. However, did you know these public […]
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