By Barbara Finke, CPA Are you tired of the “new normal,” logging into yet another virtual meeting and hoping your internet will hold out for your key presentation? Or do you love being remote so much that you’ve thrown out all your business pants and shoes,...
By Divya Gadre, CPA Since navigating the headwinds of the past year, nonprofit organizations have reimagined their operations to maintain relationships with donors, volunteers and the communities they serve while discovering new means to protect mission funding. Even so, the impacts of the pandemic and calls...
By Tammy Ricciardella, CPA On Aug. 12, 2021, the Office of Management and Budget (OMB) issued the 2021 Compliance Supplement (Supplement). The Supplement is effective for audits of fiscal years beginning after June 30, 2020. The Supplement can be accessed on the OMB website. The Supplement is...
By Carla DeMartini, CPA What is the Provider Relief Fund? The Provider Relief Fund (PRF) is the federal program issued under the Coronavirus Aid, Relief, and Economic Security (CARES) Act aimed at supporting eligible health care providers in the battle against the COVID-19 pandemic. The PRF is...
On June 11, 2021, Health Resources and Services Administration (HRSA) released a Reporting Requirements Policy Update related to provider relief fund reporting requirements. The updated Post-Payment Notice of Reporting Requirements seeks to amend the previous reporting requirements released on January 15, 2021. These reporting requirements...
On June 16, 2021, the Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Update (ASU) related to the Leases standard (Topic 842). The proposed ASU would improve the discount rate guidance for lessees that are not public business entities which includes nonprofit organizations,...
By Robby Vanrijkel COVID-19, the economy and political shifts have resulted in tumultuous times for many nonprofits. Organizational resilience depends heavily on securing funding, and organizations are seeking out new ways to engage with donors to ensure they have the resources needed to continue their missions....
By Stacey Powell, CPA, and Sam Thompson, CPA The Coronavirus State and Local Fiscal Recovery Funds (CSLFRF) provide $350 billion in emergency funding for eligible state, local, territorial and tribal governments. The U.S. Department of the Treasury (Treasury) has published an Interim Final Rule that implements...
By Gail Spielberger, CIPM Privacy in the age of modern technology is a major concern for individuals and, moreover, is the focus of laws and regulations directed at organizations that use personal data. The fast-moving digital landscape has not only challenged current lawmakers, but has also...
By Michaela Kay, CPA 2020 was quite the year. While we started off with record highs in the stock market, by mid-March, we saw the fastest 30% decline in the S&P 500 in the history of the index. Since then, we have continued to see many...
