CDCs & Affordable Housing

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CFOs Embrace the Cloud for Scalability, Reliability, and Independence

CFOs Embrace the Cloud for Scalability, Reliability, and Independence

CFOs are more commonly migrating services to the Cloud in order to unlock benefits that can help them free up resources and achieve a new level of scalability. They and their management teams are capturing greater reliability, cost-effectiveness, and security through the right Cloud services. The Cloud used to fall mainly under the jurisdiction of […]

HUD Extending the Due Date for Certain Financial Statements

HUD Extending the Due Date for Certain Financial Statements

Recent Security Breach Leads to Global Extension for Owners with 6/30/15 Fiscal Year Ends The U.S. Department of Housing and Urban Development (HUD) has issued a blanket extension for all 6/30/15 fiscal year end Real Estate Assessment Center (REAC) submissions (both owner and CPA certified) from the original due date (9/30/15) to 10/31/15.  The reason […]

Navigating Charity Evaluators

Navigating Charity Evaluators

How nonprofits can positively impact their rating Communication and transparency are paramount for companies looking to win over advocates in the information age, and the nonprofit sector is no exception. Just as Yelp transformed business reviews and TripAdvisor changed the way the world chooses vacation destinations, evaluation tools are impacting donor perception of charities. The […]

Community Investment Tax Credits: Donors Investing Over $1K in CDCs Realize Significant Tax Benefits

Community Investment Tax Credits: Donors Investing Over $1K in CDCs Realize Significant Tax Benefits

The Community Investment Tax Credit (CITC) was established as a way to incentivize Commonwealth residents to invest in community development corporations (CDCs).  The CITC program allows taxpayers to realize considerable tax savings when they make a qualified investment (cash contribution) in a CDC’s community development plan.1 Donor Benefits The CITC is an outstanding tax incentive […]

Proposed Nonprofit Financial Statement Format Changes

Proposed Nonprofit Financial Statement Format Changes

On April 22, 2015, the FASB issued a proposed Accounting Standards Update (ASU) entitled Not-for-Profit Entities (Topic 958) and Health Care Entities (Topic 954): Presentation of Financial Statements of Not-for-Profit Entities.  The proposed ASU is intended to improve the financial reporting of not-for-profit entities (NFPs) and to provide more useful information to the donors, creditors, […]