Clarifying Accounting for Nonprofit Grants and Contracts

Clarifying Accounting for Nonprofit Grants and Contracts with ASU 2018-08

In June 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, Clarifying the Scope of the Accounting Guidance for Contributions Received and Contributions Made. The ASU was issued to improve the accounting guidance for nonprofits with the ultimate goal of minimizing the diversity … Read more…

Photo of employees walking to office in company that will need to file their first time audit requirement

Hitting the First Time Audit Requirement

Consider the following scenario: it’s October 10th, and you have just been notified by your third-party administrator that your retirement plan program has exceeded the maximum number of eligible participants to qualify for “small” plan status. Your program is now … Read more…

Photo of nonprofit volunteers unloading non cash donations from truck

Recognizing Non-Cash Donations to Your Nonprofit

In addition to cash donations, nonprofit organizations receive non-cash gifts and donations, which must be recognized in the organization’s financial statements. Generally speaking, the criteria for recognizing and accounting for non-cash donations is the same as that for cash donations: … Read more…

Photo of a strong woman business leader in the Construction Industry

How to be a Strong Woman Business Leader

The attached article, written by Ann Golden Egle, MCC, is a great, quick read on the realities of starting your own business and how to be successful at it. One of the many valuable takeaways from this piece is the advice to “relax and listen deeply”. Take a few moments to enjoy this article and the helpful guidance it offers…

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