By Marc Berger, CPA, JD, LLM and Katherine Gauntt It’s been more than a year since the Supreme Court announced the landmark decision in the South Dakota v. Wayfair case, opening the door for states to require organizations to collect and remit sales tax even if...
By Laurie De Armond, CPA What is the audit committee self-assessment? This is a tool designed to assist the audit committee in evaluating how well the audit committee is executing their responsibilities. Please refer to BDO’s Effective Audit Committees for Nonprofit Organizations audit committee self-assessment section to...
By Tammy Ricciardella, CPA As calendar-year-end nonprofits have worked through the implementation of Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, we have seen quite a bit of diversity in the preparation of the liquidity and availability disclosure required by the ASU. To...
By Laurie De Armond, CPA, and Adam Cole, CPA The world needs nonprofits to continue striving for meaningful impact on a wide range of social, economic and human rights issues, and it needs them to remain financially healthy. To do so, organizations need to balance a nonprofit heart with a...
By Amy Guerra, CPA Historically there has been diversity in practice among nonprofits with regard to presentation of restricted cash and cash equivalents in the statement of cash flows. To address this diversity, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016‑18, Statement of...
By Laurie De Armond, CPA and Adam Cole, CPA The nonprofit industry is anything but static. Many outside factors impact their daily operations. Following is a list of what we see as the top 10 trends that are currently impacting nonprofit organizations. Protecting Nonprofit Nonpartisanship The current political environment has created a...
By Donna Bernardi Paul, SPHR, SHRM-SCP Are differences in work and communication style in the workplace among the different generations the cause of leadership/supervisory challenges or is it something else? There have been a plethora of articles, seminars, webinars and discussions around millennials in the workplace and the...
By Marc R. Berger, CPA, JD, LLM The IRS Tax Exempt and Government Entities (TE/GE) division released its Fiscal Year 2019 Program Letter on Oct. 3, 2018. The Program Letter outlines its projects and priorities for fiscal year 2019 for tax-exempt organizations, employee plans, Indian tribal governments, and...
By Katherine Gauntt Sales tax is imposed upon retail sales of tangible personal property and taxable services in 45 states and the District of Columbia. Each state determines the circumstances under which a sales tax is imposed on the purchaser. Purchases by nonprofit organizations are exempt in most...
By Laurie De Armond, CPA, and Adam Cole, CPA Nonprofit organizations are uniquely shaped by their mission, history, size, program goals and community. But leaders of these organizations—whether a CFO at a global health services charity, a CIO of an education endowment or the executive director at...
