Tax Brief: Form 990, Schedule R – Related Organizations and Unrelated Partnerships
The IRS Form 990, Schedule R is designed to provide information about related organizations, certain transactions with related organizations, and certain unrelated partnerships through which the organization conducts significant activities. This article will explore the relevant reporting requirements for each … Read more…
Determining the Proper Date to Recognize Donations
Determining the proper date to report a donor receipt can sometimes be difficult. Ordinarily, a contribution or donation is considered “made” at the time when delivery occurs. This is the time when a donor gives up control of the funds … Read more…
Tax Brief: Qualified Sponsorship vs. Advertising
A nonprofit can raise money through both qualified sponsorship payments and advertising; however, it is imperative the appropriate distinction between the two is made. Income generated from the sale of advertisement space is considered an unrelated business activity, therefore subject … Read more…
Video Replay — “Annual GAAP Update for Not-for-profit Organizations”
Join the Jones & Roth Nonprofit Team for an overview of recent accounting standards updates and key accounting principles for not-for-profit organizations. We share best practices and requirements for ensuring compliance with reporting standards and walk through the recent updates … Read more…
Contribution Accounting Under U.S. GAAP
In June 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08, Not-for Profit Entities (Topic 958): Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made. The ASU was issued to improve the accounting … Read more…
Fraud: It’s Not Just for Insiders
In our ever-expanding digital world, many of us have had at least one of the following experiences: If you have, these are all warning signs of potential fraud from outsiders. We are continuing to see a growing number of schemes … Read more…
Tax Brief: Form 990, Schedule I Grants and Other Assistance
The IRS Form 990’s Schedule I is designed to provide information about a not-for-profit organization’s giving of grants and other assistance to domestic individuals, governments, and organizations. This includes cash grant awards, non-cash assistance, scholarships, stipends, and other similar payments. … Read more…
Tax Brief: Form 990, Schedule M: Noncash Contributions
From donated clothing to medical supplies to securities, non-cash contributions are a vital form of support of many non-for-profit organization. The IRS Form 990 Schedule M is used to report information about non-cash contributions received by a not-for-profit organization. The … Read more…
Webinar replay: Retirement Plan Options for Not for Profit Entities
In our recent Nonprofit Roundtable we present a comprehensive review of employee retirement plan choices for your organization. Whether you are setting up a new plan or wondering if your existing plan is right for your group, this roundtable will … Read more…
Key Performance Indicators for Not-for-Profit Organizations
Key Performance Indicators (KPI) KPIs are quantifiable measures of how well you are performing activities that are critical to the success of your organization Statement of Financial Position Indicators Liquidity Current Ratio and Quick Ratio The current ratio and quick … Read more…
