The New England Not-For-Profit Accounting Advisor

Rebranding a Nonprofit: Four Reasons Why the CFO Needs a Seat at the Table

Posted by Jennifer Harrington on Wed, Jan 27, 2016 @ 08:00 AM

By guest contributor: Jennifer Harrington, President, HATCH

I recently met with the Executive Director of a nonprofit agency who was lamenting that her organization’s most recent branding efforts had not gone as well as expected. I asked what went wrong, and her perspective was that:

  1. The process was lengthy and expensive, and
  2. She didn’t get the deliverables needed to launch the brand in the market.

What struck me was that while a metric for success for a new brand is the ability to clearly articulate the organization’s story, the metric for failure usually comes down to money not well-spent.

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Tags: CFO, not-for-profit, NFP, Rebrand, rebranding, nonprofit, Marketing

Tax Extenders Come with Benefits for Tax-Exempt Organizations and Their Donors

Posted by Richard Scoresby on Mon, Jan 25, 2016 @ 03:14 PM

The passage of the Protecting Americans from Tax Hikes Act of 2015 (PATH) brought with it opportunities for long-term tax planning that benefit tax-exempt organizations. The PATH Act makes permanent several popular tax provisions, including measures related to:

  • Qualified conservation contributions,
  • Food donations,
  • Distributions from IRA accounts,
  • Payments from controlled entities to their not-for-profit parent organizations, and
  • S corporation charitable contributions

These provisions offer incentives for taxpayers to donate to charitable causes through deductions and other favorable changes to their tax liability.

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Tags: tax, Non-profits, Not-for-Profits, Richard Scoresby, NFP, Tax Extenders

Filing Deadline Approaches for Massachusetts Nonprofits Property Tax Exemption

Posted by Joe Giso on Mon, Jan 25, 2016 @ 08:30 AM

Massachusetts-based not-for-profits should be preparing now to file their Form 3ABC. The form provides a full or partial tax property tax exemption for an organization’s real or personal property so long as the organization files it by March 1, 2016.


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Tags: Massachusetts, non-for-profit, Form 3ABC, nonprofit

Information Reporting Deadlines for ACA Extended

Posted by Chrissy Hammond on Sun, Jan 24, 2016 @ 04:30 PM

Employers subject to the Affordable Care Act (ACA) and applicable providers of health coverage have a longer window to circulate and submit their required 2015 health insurance information reporting forms. IRS Notice 2016-4 extends the deadline for employees to receive their reporting forms until March 31, 2016. Employers and other providers of minimum essential coverage will have until May 31, 2016, if submitting physical forms and June 30, 2016, if filing electronically.

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Tags: Massachusetts, non-for-profit, Form 3ABC, nonprofit

4 Ways to Improve Your Not-for-Profit’s Board and Management

Posted by Joel LaSalle on Fri, Jan 22, 2016 @ 01:37 PM

A not-for-profit’s board of directors helps an organization monitor its operations in order to ensure that the not-for-profit meets its obligations to the community. Members of the board can ensure that an organization appropriately manages its financial assets and pursues ventures that support its tax-exempt mission. A board assists in verifying that the pay a not-for-profit executive receives is appropriate to the market in which the nonprofit operates. They can also be valuable sources for guidance about how to improve the management and internal functioning of your organization.

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Tags: accounting, Non-profits, Not-for-Profits, NFP, board members, Joel LaSalle

A Not-for-Profit’s Guide to Upcoming Accounting Changes

Posted by Mike Burns on Thu, Dec 17, 2015 @ 01:31 PM

We remain in a relatively quiet time for changes in accounting and reporting standards affecting not-for-profit organizations, notwithstanding larger proposals affecting the intermediate and longer term. Some of the near term changes are essentially tweaks to ensure organizations are following standards with consistency rather than having the diversity in practice that can sometimes arise. Despite not having any major changes to report, we encourage all organizations to pay close attention to all new accounting rules as they may find themselves in a special or unique circumstance that could affect their reporting. 

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Tags: accounting, Federal OMB Grant, Non-profits, OMB, NFP, A-133, lease accounting changes, Mike Burns

Why Does Your Not-for-Profit Need A Financial Advisor?

Posted by Mark Perry on Wed, Dec 16, 2015 @ 10:32 AM

By guest contributor: Mark E. Perry, Managing Director, SJ Advisors LLC

In these increasingly challenging and changing financial markets, it is vital to have a “financial advisor you can trust” at your side as you steer your not-for-profit institution through the debt issuance process and other debt related initiatives. A municipal advisory firm (“MA”) provides this guidance and counsel.

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Tags: tax-exempt, not-for-profit, Non-profits, financial advisor, financial markets

Electing 501(h) Makes More Room for Lobbying

Posted by Betty Isler on Mon, Dec 14, 2015 @ 03:29 PM

Lobbying is among the most effective tools not-for-profits have to promote their causes. Not-for-profit and charitable organizations routinely lobby Congress and local governments in support of specific objectives. Whether it is to feed the homeless, rehabilitate drug abusers, support community arts, protect wetlands or serve countless other local, regional, national and international purposes, not-for-profits are permitted to engage in lobbying activities as long as they meet certain guidelines put forth by Congress and the IRS.

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Tags: lobbying, not-for-profit, Non-profits, NFP, Betty Isler

Three Opportunities for Not-for-Profits to Lower Benefit Costs

Posted by Jim O’Connor on Fri, Dec 11, 2015 @ 09:31 AM

Although the Affordable Care Act (ACA) ushered in more opportunities for individuals to access health coverage, it has not stemmed the inflationary trend that continues to drive up health insurance costs. Because the health reform law has not slowed the rise in health insurance-related expenses, employers will have to look for ways to do so themselves.

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Tags: not-for-profit, Affordable Care Act, Jim O'Connor, Lower Benefit Costs

Not-for-Profit Financial Statement Presentation Changes Update

Posted by Michelle Spriggs on Sun, Nov 15, 2015 @ 11:00 AM


For the past three years, the FASB has been evaluating how to streamline the financial reporting model used by not-for-profits and health care entities. In 2015, the FASB published the long-awaited exposure draft that included the following proposed changes to the NFP Financial Reporting Model: reducing the number of net asset classes from three to two, modifying the statement of activities including a requirement to present an intermediate measure of operating performance, and changing the presentation of cash flows. The Exposure Draft also called for enhanced disclosures by not-for-profit organizations about their liquidity.

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Tags: financial statements, Non-profits, FASB, Michelle Spriggs, NFP