By Tammy Ricciardella, CPA Many nonprofit organizations receive a variety of gifts-in-kind (GIK) that provide them with resources to supplement their programming. GIK represent a wide variety of non-cash items donated to nonprofits. Nonprofits must follow Accounting Standards Codification (ASC) Topic 820, Fair Value Measurement, to account...
By Laurie De Armond, CPA, and Adam B. Cole, CPA All nonprofits want to do good. Helping their constituents and driving impactful, positive change in communities is what propels their mission forward. Whether they’re on a quest to combat social injustice, poverty or climate change, nonprofits...
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 Tammy Ricciardella, CPA On Aug. 15, 2019, the Financial Accounting Standards Board (FASB) issued an exposure draft that would grant private companies and nonprofit organizations additional time to implement FASB standards. Comments on the exposure draft are due by Sept. 16, 2019. The exposure draft describes...
