Contact Us Follow Us :       | Find Us |
CBIZ Tofias

Subscribe to Our Blog

Client Satisfaction Survey Results

ClientSatisfaction_new

Follow Us

Make Your Form 990 A Roadmap for Donors, Board Members, the IRS and the Public
Posted by Lisa Burke on Wed, Apr 11, 2018 @ 02:22 PM

With the May 15th due date for calendar year not-for-profits just around the corner and provisions inthe Tax Cuts and Jobs Act increasing scrutiny on not-for-profits’ executive compensation, employee benefits, and unrelated business income, it’s a good time to take a look at the message your organization’s tax return is sending. In years past, the IRS Form 990 was no more than a compliance task; an annual filing requirement to keep the IRS at bay. After all, there is no tax due, so what’s the big deal?

Read More

Topics: tax-exempt, not-for-profit, IRS, Form 990, Form 990-EZ, NFP, Charity Navigator, GuideStar, tax effect, Amazon Web Services, Lisa Burke

Regulation Round-Up for Not-For-Profits: New Requirements to Monitor
Posted by Brenda Booth on Tue, Mar 20, 2018 @ 07:50 AM

Over the past several months, regulators have released new guidance that will affect not-for-profit accounting and taxes. The following highlights some of the major developments from the end of 2017 and the beginning of 2018.

Read More

Topics: Brenda Booth, not-for-profit, NFP, Mark Winiarski, Form 1023-EZ, Excise Taxes, DAF, tax effect, Donor-Advised Funds

The Time Has Come to Evaluate Your  Not-For-Profit's Executive Compensation
Posted by Hal Wallach on Mon, Mar 19, 2018 @ 02:55 PM

Executive compensation can be a consistent point of contention for many not-for-profit organizations. Many find themselves trying hard to strike a balance between:

  • Paying compensation that can attract and retain the level of talent needed to help the organization fulfill its mission and purpose, and
  • Complying with IRS rules related to paying compensation that is “reasonable”
Read More

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

Operating Reserves and the Not-For-Profit Organization’s Budget
Posted by David Brown on Thu, Feb 1, 2018 @ 04:55 PM

Organizations evolve. Operating environments change, and not-for-profit organizations can expect to feel a financial impact from the new tax legislation. Looking at your budget and operating reserves now can help your organization be prepared for what comes next. There are plenty of factors that weigh in on your bottom line, but the need for adequate operating reserves is a significant factor in maintaining financial stability.

Read More

Topics: David Brown, not-for-profit, nonprofit, cash reserves, operating environment, tax legislation

Cybersecurity Risks in the Season of Giving
Posted by Ray Gandy on Wed, Dec 20, 2017 @ 01:53 PM

December is a giving time of year, and not-for-profit organizations may be on the receiving end of some financial gifts. Individuals and businesses have strong tax incentives to make charitable contributions before the calendar year wraps up, and as a result, donations may be flooding in. 

Read More

Topics: not-for-profit, NFP, cyber attacks, Ray Gandy, cyber security, Holiday cyber risks

7 Lessons Not-For-Profits Learned From Early Adopting the New Financial Statement Standard
Posted by Michelle Spriggs on Tue, Dec 19, 2017 @ 04:57 PM

Not-for-profit organizations have a year to work on their new financial statement presentation requirements. Changes released in August 2016 affect the financial statement presentation of net asset classification, governing board designation, investment return, underwater endowment funds, capital gifts, expenses, liquidity and operating cash flows. Organizations will need to have the changes ready to go for their 2018 calendar year-end filings (Dec. 31, 2018 or 2019 fiscal year end filings, e.g. June 30, 2019).

Read More

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

6 Tips for Retaining a Not-For-Profit CFO
Posted by Jay Meschke on Mon, Dec 18, 2017 @ 04:58 PM

Not-for-profit chief financial officers (CFOs) fill many roles, and may be involved in decisions ranging from accounting to real estate and administration. The smaller the organization, the more likely it is that your CFO covers a wide range of responsibilities. He or she could be providing oversight over finance teams while also creating a high level strategy for financial and investment decisions.

Read More

Topics: CFO, not-for-profit, NFP, nonprofit, not-for-profit talent, retention, Jay Meschke

Accounting Updates That Affect Not-For-Profit 2017 Financial Statements
Posted by Mark Winiarski on Tue, Nov 28, 2017 @ 03:10 PM

The close of the calendar year provides a good opportunity for not-for-profit organizations with June 30 fiscal year ends to plan ahead. Many accounting standard changes went into effect for 2017 fiscal years. The updates could affect financial statements in multiple places, from adding or changing disclosures to modifications in internal controls over financial reporting.

Read More

Topics: ASU, not-for-profit, FASB, Mark Winiarski, 2017 fiscal year end, Equity Method of Accounting, Consolidation

Data Analytics Drive Compliance Efforts in the 2018 IRS Work Plan for Not-For-Profits
Posted by Betty Isler on Tue, Oct 31, 2017 @ 01:50 PM

Data-driven analytics are here to stay when it comes to compliance enforcement for not-for-profit organizations. The IRS Tax Exempt and Government Entities FY2018 Work Plan outlines strategies and approaches that the IRS will use to monitor tax compliance for tax-exempt organizations.

Read More

Topics: not-for-profit, IRS, Non-profits, NFP, tax compliance, Betty Isler, tax exempt bonds, NFP Compliance, 2018 IRS Work Plan, tax-exempt organizations, IRS Work Plan

Frequently Asked Questions About Not-For-Profit Audits
Posted by Joyce Masse Troy on Mon, Oct 23, 2017 @ 04:11 PM

A financial statement audit is bound to produce questions on financial statement reporting, and many are matters that are better addressed before the start of the audit. Questions addressed during the reporting year can save not-for-profit organizations a lot of time during their next audit and could eliminate potential control deficiencies reported as a result of addressing these prior to the audit. The following are among the top questions we routinely hear from our clients.

Read More

Topics: Joyce Masse Troy, not-for-profit, endowment funds, Not-For-Profit Audits, Split-Interest Agreements, financial statement audit, financial statement reporting

Popular Posts

Browse by Tag

see all