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6 Tips to Help Not-For-Profits Manage Coronavirus Impact
Posted by Mike Burns on Fri, Mar 27, 2020 @ 05:30 PM

Repercussions from the COVID-19 virus affect almost every facet of your not-for-profit’s operations, from the delivery of your services to managing your workforce. Many cultural organizations and educational institutions must grapple with the public health safety measures that may have temporarily shuttered their operations. Protecting your employees and staff from contracting the highly contagious COVID-19 virus may be resulting in new policies around meetings, and remote work arrangements. To help protect your staff still on the premises, you may be called to increase the frequency and scope of your cleaning services.

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Topics: accounting, Non-profits, NFP, Mike Burns, COVID19, Coronavirus, Families First Coronavirus Response Act, COVID-19

Clarifications Coming to Not-For-Profit Accounting for Nonfinancial Assets
Posted by Allan Klose on Mon, Mar 2, 2020 @ 04:24 PM

By Allan Kose, CPA and David Miller, CPA

The Financial Accounting Standards Board (FASB) recently released a proposed accounting standard update that would affect how not-for-profit organizations account for their nonfinancial assets. Not-for-profit organizations would present contributed nonfinancial assets as a separate line item from contributions of cash or financial assets in their statement of activities.

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Topics: not-for-profit, Audit Committee, NFP, Allan Klose, David Miller

The SECURE Act – 9 Key Takeaways for Employers
Posted by Chrissy Hammond on Mon, Mar 2, 2020 @ 10:54 AM

The Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law on Dec. 20, 2019 by President Trump, is the most expansive piece of retirement legislation since the Pension Protection Act of 2006. Effective Jan. 1, 2020, the law will have some impact on nearly every retirement plan and participants with numerous provisions intended to increase retirement security, expand plan coverage, encourage retirement savings and decrease plan costs. It offers small businesses tax incentives to set up automatic enrollment in retirement plans for its workers, or allows them to join multiple employer plans, where they can band together with other companies to offer retirement accounts to their employees in the first place.

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Topics: not-for-profit, 403(b), NFP, the SECURE Act, retirement planning

Biggest Stories in 2020 for Not-For-Profit Risk Management
Posted by Chrissy Hammond on Mon, Mar 2, 2020 @ 10:30 AM

No one wants to be surprised by a risk that suddenly becomes a reality. The risk landscape is constantly changing for not-for-profit organizations, so we set out to learn more about hot topics in risk management to help guide your 2020 risk planning.

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Topics: not-for-profit, NFP, risk, risk management, Not-For-Profit Risk Management, risk mitigation

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