Aug 19, 2024 | Nonprofit Insights
Many nonprofits recognize the importance of establishing strong internal controls. But it is just as important to know why certain internal controls are in place. In other words, what are the objectives of your internal controls and what are you trying to accomplish...
Aug 12, 2024 | Nonprofit Insights
It has been more than two years since Accounting Standards Update No. 2016-02 (ASC 842) became effective for private companies and nonprofit organizations for fiscal years beginning after December 15, 2021. However, some nonprofits are still adjusting to this major...
Aug 7, 2024 | Nonprofit Insights
The Employee Retention Tax Credit (ERTC) was devised during the pandemic to provide financial relief to businesses and nonprofit organizations that continued paying employees while shut down due to COVID-19 or that had a significant decline in gross receipts during...
Mar 11, 2024 | Nonprofit Insights
A study of the nonprofit workforce conducted in 2021 by the National Council of Nonprofits revealed a rising workforce crisis. According to the study, nonprofit organizations were experiencing “intolerably high job vacancy rates,” causing harm to the individuals and...
Mar 11, 2024 | Nonprofit Insights
The most significant revisions to the American Institute of Certified Public Accounts’ (AICPA’s) Statements on Standards for Tax Services (SSTS) in over a decade went into effect on January 1, 2024. The SSTS are enforceable standards that all AICPA members providing...
Mar 11, 2024 | Nonprofit Insights
In 2018, the Pineapple Fund donated Bitcoin grants worth $55 million to 50 nonprofit organizations. Since then, more donors have expressed interest in donating cryptocurrency to the charities they wish to support. This raises the question: Is it smart for your...
