Nonprofit
2022 HSN Supplemental Payments
AAFCPAs would like to make FQHC clients aware, as part of the Massachusetts Economic Growth and Relief Act of 2022, $20,000,000 was allocated to the Health Safety Net (HSN) Trust Fund for community health centers or hospital-licensed health centers (health centers) participating in the MassHealth program. Payments were to be made to the health centers […]
Client Success Story: Robotic Process Automation
How MGCC Distributed ~$700 million to 15,000+ Small Businesses in ~4 Months Massachusetts Growth Capital Corporation (MGCC) was charged with standing up a new program to quickly deliver an unprecedented amount of relief to small businesses across Massachusetts impacted by the pandemic. Background Since 2020, MGCC has proudly been the administrator for multiple pandemic relief […]
Changes to In-kind Donation Disclosures for Nonprofits
AAFCPAs would like to make nonprofit clients and donors aware that the Financial Accounting Standards Board (FASB) has recently issued an Accounting Standards Update (ASU) to increase the transparency about the measurement of in-kind donations received by nonprofits, as well as the amount of those in-kind donations used in nonprofits’ programs and other activities. The […]
Should Your Nonprofit Accept Cryptocurrency Donations?
With a current total market cap of all cryptocurrencies now exceeding $2 trillion dollars, nonprofits who refuse to accept, or do not have adequate policies in place for accepting crypto donations may be missing out on a large and growing funding stream. While accepting crypto donations may seem like an unwanted headache for nonprofit organizations, […]
Guidance on New Lease Accounting Standard
In 2016, FASB issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) to increase transparency and comparability of lease transactions. AAFCPAs has summarized some of the most significant changes resulting from the new ASU for your convenience: AAFCPAs has provided a detailed Whitepaper providing guidance on the FASB’s new Lease standard so clients may proactively […]
Pay for Success: a funding model with data at its core
There is at long last solid momentum gathering behind the pay-for-success (PFS) model of funding socially oriented projects and services: a shift in approach that emphasizes outcomes rather than activities. Through PFS contracts, the ecosystem of investors, government, and service providers is working together to create new opportunities and meet more impactful social goals. PFS […]
Non-Profits Eligible for ERTC, up to $19,000 per Employee
The Consolidated Appropriations Act, 2021, signed on December 27th, 2020, is expanding eligibility for the Employee Retention Tax Credit (ERTC) by allowing those who received Paycheck Protection Program (PPP) loans to qualify. Prior to December 27, 2020, PPP loan recipients could not also file for eligible tax credits. For nonprofits, the ERTC is taken against […]
AAFCPAs’ 2021 Nonprofit Educational Seminar
AAFCPAs is excited to announce that registration is now open for our 12th Annual Nonprofit Educational Seminar, scheduled for Wednesday, April 28. As a client and/or friend of AAFCPAs, your registration will be complimentary. We are excited this year to announce we will be hosting this popular event virtually! AAFCPAs’ Annual Nonprofit Educational Seminar is considered by […]
Nonprofit Executive Power Hour
AAFCPAs Partner Katie Belanger, CPA will offer her expertise in an educational webcast for nonprofit executives on December 8th to share ideas, thoughts, and cautions around a spectrum of administrative functions, including finance, technology, compliance, risk, insurance, and culture. Nonprofit executives have never faced as many challenges as they are right now, and their ability […]