Nonprofit News

FASB Offers Reprieve from Updated Lease and Revenue Recognition Rules

FASB Offers Reprieve from Updated Lease and Revenue Recognition Rules If you’re feeling burned out from coping with extreme circumstances brought on by the COVID-19 pandemic, you’re not alone. Fortunately, the Financial Accounting Standards Board (FASB) and Congress are offering some compliance-related relief for certain entities. Deferral of Revenue Recognition Rules Let’s start with Accounting…

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7 CARES Act Benefits for Nonprofits

7 CARES Act Benefits for Nonprofits The recent Coronavirus Aid, Relief, and Economic Security” (CARES) Act provides relief to employers struggling to stay afloat during the novel coronavirus (COVID-19) pandemic. The not-for-profit sector is no exception. In fact, some provisions in the new law are specifically tied to charities. Following is a brief summary of…

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Nonprofit Tax Law Changes

3 Tax Law Changes Affecting Nonprofits The Taxpayer Certainty and Disaster Tax Relief Act passed late last year includes three significant tax law changes that can affect not-for-profit organizations. They deserve your attention now because the law’s provisions may affect the current tax year — and even previous tax years. Following are brief summaries of…

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Nonprofit Collaboration Is Key in Community Response to COVID-19 Pandemic

Nonprofit Collaboration Is Key in Community Response to COVID-19 Pandemic By Bob Reynolds, CPA, CGMA In response to the COVID-19 pandemic, health care providers, local business leaders, government and nonprofit organizations, and concerned philanthropists are working tirelessly to meet the needs of employees, customers, and those most at risk in their local communities. I recently…

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Nonprofit Response to COVID-19

Nonprofit Response to COVID-19 | MVNC Virtual Gathering The global pandemic has affected local nonprofit organizations in ways we thought would never happen. Join the Miami Valley Nonprofit Collaborative in a free virtual discussion about the way our industry is handling donor engagement, fundraising and events, client services and volunteer engagement. Your meeting facilitators include:…

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