Tax Brief: Tax Impacts from Debt Financed Rental Property
Tax-exempt organizations engaging in business that is unrelated to its primary exempt purpose may generate income that subject to the unrelated business income tax (UBIT). One common type of income that may be subject to UBIT is income derived from … Read more…
Webinar: “What Every Nonprofit Needs to Know about Form 990”
Jones & Roth’s 2023 Nonprofit Roundtable presents what every nonprofit needs to know about the Form 990. We share best practices and policies for ensuring compliance with reporting requirements. You’ll gain valuable information that could affect the way you raise … Read more…
Does it count as a charitable contribution?
Just because something is called a donation, doesn’t mean it yields a charitable deduction. In fact, many charities offer programs wherein participants are required to make a “donation” prior to partaking. When trying to determine whether a donor can claim … Read more…
Virtual Currency Donations
What is virtual currency? Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. Virtual or “crypto” currency utilizes cryptography to validate and secure transactions that … Read more…
Tax Brief: Form 990, Schedule L: Transactions with Interested Persons
The IRS Form 990 Schedule L is used to disclose certain types of transactions between a not-for-profit organization and interested persons. These transactions include excess benefits transactions, loans, grants or other assistance, and business transactions. This schedule is also used … Read more…
Nonprofit Webinar: Annual GAAP Update for Not-for-profit Organizations
The Jones & Roth Nonprofit Team provides an overview of recent accounting standards updates and key accounting principles for not-for-profit organizations. We will share best practices and requirements for ensuring compliance with reporting standards and walk through the recent updates … Read more…
When Should Your Executive Director Think Like a CEO?
Nonprofit leaders are known as “executive directors” and for-profit leaders are known as “CEOs.” Is there a difference between the two? Both are leaders of their organizations; both strive to meet the expectations of their board of directors; and both … Read more…
Impact of New Lease Accounting Standards on Not-for-profit Organizations
The long-awaited accounting standard update (ASU) for leases is finally at our doorsteps. ASU 2016-02, Leases is effective for private companies and not-for-profit organizations with annual reporting periods beginning after December 15, 2021. Early implementation is permitted. The core principle … Read more…
Dashboard Reporting – Three key metrics
The not-for-profit sector is an ever-growing and evolving industry and with that comes various challenges and opportunities. With good financial reporting and analysis, not-for-profit organizations can prepare for these challenges and take advantage of opportunities that arise timely and with … Read more…
Accounting Standard Update for Gifts in Kind
A recent accounting standard update (ASU) for nonprofits has been issued by the Financial Accounting Standards Board (FASB). ASU 2020-07 Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets will be effective for nonprofits with annual reporting periods beginning … Read more…
