Contact Us Follow Us :       | Find Us |
CBIZ & MHM New England

Subscribe to Our Blog

Client Satisfaction Survey Results

ClientSatisfaction_new

Follow Us

Signs Your Not-For-Profit Needs an Executive Compensation Study
Posted by Hal Wallach on Tue, Mar 26, 2019 @ 07:53 AM

When it comes to what not-for-profit organizations should pay their top executives, the “instructions” are not always clear or obvious. The directive is that compensation should be “reasonable”, but reasonable may mean different things depending on who you ask. Your board could have an idea for a figure that is convenient for the budget, but would not attract the quality candidate that your organization needs to further its reach. On the other end of the spectrum, your compensation package may be outsized for the type of organization you operate, which risks drawing the ire of regulators and the community you serve.

Read More

Topics: not-for-profit, NFP, executive compensation, compensation risks, retain talent, Hal Wallach, not-for-profit salaries

Improve Your Accounting for Fundraising
Posted by Heather Hernandez on Fri, Mar 1, 2019 @ 11:52 AM

As not-for-profit organizations adopt the new financial statement presentation changes, they may want to take another look at their accounting for fundraising costs. Not-for-profits have some flexibility when it comes to allocating costs to fundraising efforts.

Read More

Topics: not-for-profit, financial statements, fundraising, NFP, Heather Hernandez, program costs, accounting for fundraising, joint cost allocation

How to Prepare for a Successful Implementation of the New Not-For-Profit Reporting Standards
Posted by Michelle Sylvia Spriggs on Fri, Jan 25, 2019 @ 08:35 AM

Now is the time for not-for-profit organizations to begin implementing the new changes to their financial statements. Changes issued under the Financial Accounting Standards Board (FASB) Accounting Standards Update 2016-14, Presentation of Financial Statements of Not-for-Profit Entities is effective for calendar year-end entities in 2018, and fiscal year-end entities in 2019.

Read More

Topics: not-for-profit, Michelle Spriggs, NFP, nonprofit, Not-for-profit financial statement, Financial Statement

IRS Relaxes Hardship Withdrawal Rules for Not-For-Profits
Posted by Diane Caron on Wed, Dec 19, 2018 @ 12:42 PM

Recently, the IRS made several changes to the rules related to hardship withdrawals for not-for-profit organizations. The changes may be adopted by plan sponsors as early as Jan. 1, 2019 or, if later, the first day of the plan year beginning after Dec. 31, 2018.

Read More

Topics: not-for-profit, IRS, 403(b), NFP, nonprofit, hardship withdrawals

Measuring the Impact of Revenue Recognition on Not-For-Profit Organizations
Posted by Holly Perez on Thu, Nov 29, 2018 @ 10:48 AM

Not-for-profit organizations face a big question going into their next fiscal period: how will the revenue recognition standard affect the not-for-profit sector? The answer is: it depends.

If your organization uses a basis of accounting other than the U.S. generally accepted accounting principles (GAAP), such as a cash basis of accounting, then the changes to revenue recognition under ASC Topic 606, Revenue from Contracts with Customers will not impact your organization. Organizations that follow U.S. GAAP will have some evaluating to do, particularly if your entity receives a high volume of contributions, is a membership organization, or provides goods or services (such as by operating a gift shop). 

Read More

Topics: Not-for-Profits, NFP, Revenue recognition, ASC Topic 606, Holly Perez

4 Things Not-For-Profits Can Do in 2018 to Make Adopting the Leasing Standard Easier
Posted by Heather Winiarski on Wed, Oct 31, 2018 @ 02:19 PM

The effective date for the new leasing standard under ASC Topic 842 will be here before you know it. Not-for-profit organizations that issue or are conduit bond holders for securities that are traded, listed, or quoted on an exchange or over-the-counter market begin adoption for fiscal years beginning after Dec. 15, 2018 (and interim periods within those fiscal years), and all other organizations must adopt the standard for fiscal years beginning after Dec. 15, 2019 (Jun. 30, 2021 financial statements).

Read More

Topics: GAAP, tax-exempt, not-for-profit, IRS, NFP, nonprofit, Lease Standards, Leasing, asc topic 842

The Form 990 Roadmap Continued: Navigate the Alphabet of Supplemental Schedules
Posted by Lisa Burke on Thu, Oct 25, 2018 @ 11:43 AM

In the spring, we did a deep dive into the core Form 990 and provided compliance tips for Part I through Part XI. Keeping your supplementary schedules up-to-date is also critical to your compliance. Below are some tips for the Form 990 Schedule A, Schedule R and everything in between. If these schedules are applicable to your organization, the following information can help ensure that you are filing a complete and accurate Form 990 that presents your not-for-profit in the best light and helps avoid IRS scrutiny.

Read More

Topics: tax-exempt, not-for-profit, IRS, Form 990, NFP, nonprofit, Lisa Burke, Form 990 Roadmap, Form 990 Schedules

Does Your Not-For-Profit Have an Effective Audit Committee?
Posted by Allan Klose on Mon, Sep 24, 2018 @ 05:08 PM

Not-for-profit organizations should take a page from the public company playbook when it comes to their governance. The Sarbanes-Oxley Act of 2002 (SOX), makes it a requirement for public companies to have an audit committee that follows several key mandates for reporting annual financial statements. Regardless of size, all not-for-profit organizations can benefit from having an audit committee as well, that can help with governance strategies and, ultimately, provide the best chance to ensure the organization’s success.

Read More

Topics: not-for-profit, Audit Committee, NFP, nonprofit, not-for-profit board of directors, SOX

5 Tips for Not-For-Profits in a Tight Labor Market
Posted by Jay Meschke on Fri, Sep 7, 2018 @ 04:25 PM

It’s a tough time for any organization looking to hire right now. The unemployment rate in July was at its lowest level since 1969, and all signs indicate that the trend will continue. Baby boomers will also continue to retire, leaving a massive void in the workforce.

Read More

Topics: CFO, not-for-profit, NFP, competing for talent, nonprofit, retain talent, not-for-profit talent, Jay Meschke, recruiting, not-for-profit recruitment

Donor Information Requirement Going Away for Some Not-For-Profits
Posted by Brenda Booth on Tue, Jul 31, 2018 @ 11:24 AM

Tax-exempt organizations other than those organized under 501(c)(3) or political organizations (under Section 527) will soon be able to leave off donor names and addresses from their Form 990s. The change to the annual tax filings will apply to tax years ending on or after Dec. 31, 2018, according to IRS Rev. Proc. 2018-38. Requirements for 501(c)(3) and Section 527 organizations remain the same. These organizations will continue to report the names and addresses of donors that meet certain threshold requirements as part of their Form 990, Schedule B.

Read More

Topics: Brenda Booth, not-for-profit, Form 990, NFP, 501(c)(3), tax-exempt organizations, Donor Information, Section 527

Popular Posts

Browse by Tag

see all