Nonprofit
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 […]
How to Maintain Not-for-Profit Status
AAFCPAs Partner, Robin Kelley, CPA, as well as Susan Abbott, Esq., of Goodwin Procter, will lead Lawyers Clearinghouse’s Nonprofit Incorporation Workshop: How to Maintain Not-for-Profit Status. This seminar, designed as Part II to Lawyers Clearinghouse’s very popular Nonprofit Incorporation Workshop, focuses on compliance requirements once initial filings are completed. Robin and Susan will highlight important […]
2014 Federal Forms 990 Changes Affecting Supporting Organizations
Nonprofit organizations with a December 31, 2014 year-end are now in the process of reviewing their Forms 990 for the upcoming May 15th due date. In advance of the filing deadline, AAFCPAs would like to advise nonprofits and their Board members of the significant revisions that specifically affect supporting organizations. In 2014, the IRS revised […]
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, […]
FASB Votes to Propose a Deferral to the Effective Date for Revenue Recognition Standard by One Year
AAFCPAs would like to inform you of an update from today’s FASB Board Meeting (April 1, 2015), in which they voted to propose a one-year deferral of the effective date of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“the new revenue standard”). Following a member comment period (30-days), we anticipate […]
New York State Nonprofit Revitalization Act – Guidelines to Compliance
Reminder: Review Fiscal Policies and Audit Procedures AAFCPAs strongly recommends that nonprofits registered to conduct charitable solicitations in New York State review and revisit their by-laws and policies to ensure compliance with the New York State Nonprofit Revitalization Act of 2013 (The “Act”). The Act, effective July 1, 2014, included sweeping reform legislation which reduces […]
Revised Massachusetts Charter School Audit Guide
AAFCPAs Highlights Changes and Practical Considerations to Ensure Charter Schools Are Well-Prepared for Your Financial Audit by John Buckley, CPA In June of 2014, the Massachusetts Department of Elementary & Secondary Education (DESE) issued its revised Charter School Audit Guide, including significant changes to the financial reporting and audit requirements of charter schools. This guide […]
Security Alert: NCCS Data Breach of Form 990 Online and e-Postcard Filing Systems
Urban Institute’s National Center for Charitable Statistics (NCCS) Alerts Users of Data Breach Users of the Form 990 Online and e-Postcard Filing Systems received an email today from the Urban Institute’s National Center for Charitable Statistics (NCCS) informing its constituents of a data breach. AAFCPAs has confirmed that this email is legitimate; NCCS’ 990 websites […]
Must-Know Federal and State Fundraising Rules and Regulations for Non Profits
Are you registered in each state where you fundraise? The majority of states and the District of Columbia require charitable nonprofits and/or professional fundraising consultants (sometimes referred to as “solicitors”) to register with the state before engaging in fundraising activities in that state. Charities that solicit contributions in more than one state, on the internet, […]