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4 Major Takeaways from the 2019 AICPA Not-for-Profit Industry Conference
Posted by Misty Dean on Fri, Aug 2, 2019 @ 08:43 AM

Several members of the CBIZ and MHM Not-For-Profit Practice attended the AICPA’s not-for-profit conference in Washington D.C. this summer. The annual conference covers hot topics in accounting, tax, and financial advisory, and other industry trends that practitioners and their clients should have on their radar.

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Topics: AICPA, not-for-profit, NFP, single audit, nonprofit, liquidity, grant guidance

Are Your Benefit Plan’s Alternative Investments Generating Taxes?
Posted by Lisa Burke on Thu, Aug 1, 2019 @ 05:35 PM

Alternative investments offer attractive features for employee benefit plan sponsors. Investments in real estate, businesses, and partnerships tend to yield higher rates of return when compared to traditional investment vehicles like stocks, bonds, and mutual funds. But those alternative investments could also come with tax consequences. Plan sponsors may not be aware that their plan investments are generating unrelated business taxable income (UBTI), which could lead to compliance issues.

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Topics: tax-exempt, not-for-profit, IRS, UBTI, unrelated business taxable income, NFP, nonprofit, UBIT, Lisa Burke

New Lease Accounting Standard to be Delayed?
Posted by Heather Winiarski on Thu, Aug 1, 2019 @ 03:12 PM

Not-for-profit organizations, private companies, and smaller reporting companies received welcome news on July 17. The Financial Accounting Standards Board (FASB) voted to issue proposals that would delay the effective date for changes to leasing, current expected credit loss (CECL), and hedge accounting. A second proposal would delay accounting for long-term insurance contracts as well.

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Topics: not-for-profit, NFP, nonprofit, Leasing, leasing standard

How Health Literacy Helps the Not-For-Profit (& Employee) Bottom Line
Posted by Chrissy Hammond on Tue, Jul 30, 2019 @ 06:17 PM

The Institute of Medicine defines health literacy as the “degree to which individuals have the capacity to obtain, process and understand the basic health information and services needed to make appropriate health decisions.”

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Topics: not-for-profit, NFP, Health care, health literacy

Not-For-Profit Organizations Granted Private Company Accounting Alternatives
Posted by Mark Winiarski on Wed, Jul 3, 2019 @ 01:30 PM

The Financial Accounting Standards Board (FASB) recently extended relief for goodwill and intangible asset accounting to not-for-profit organizations. Accounting Standard Update (ASU) 2019-06 will allow not-for-profit organizations to access the same simplified approach to these two issues that private companies have been granted.

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Topics: goodwill, goodwill impairment, not-for-profit, FASB, Mark Winiarski, Financial Accounting Standards Board, Accounting Standard Update

The Revenue Recognition Lesson Not-For-Profits Can Apply to Leasing
Posted by Allan Klose on Wed, Jul 3, 2019 @ 01:16 PM

Accounting changes to ASC Topic 842, Leases share many of the characteristics that made the revenue recognition updates in Topic 606 so challenging. Like revenue recognition, the Topic 842 leasing standard is another principles-based approach. It includes changes to definitions that will require case-by-case analysis. It could—and is more likely to than revenue recognition—have a financial impact on not-for-profit organizations because Topic 842 changes require all lessees to recognize lease assets and liabilities on their balance sheet. Recognizing these lease assets and liabilities will affect financial ratios and the processes that rely on them, such as loan covenants.

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Topics: not-for-profit, Audit Committee, NFP, Revenue recognition, nonprofit, Leasing, leasing standard

9 Ratios to Help Measure Your Not-For-Profit's Financial Health
Posted by Chrissy Hammond on Tue, Jul 2, 2019 @ 01:20 PM

More not-for-profit organizations are recognizing the benefit of financial performance measurement as a strategy for evaluating operations, programs, services and financial stability. One useful measurement tool is financial ratio analysis. It involves taking data from your financial statements, using it to calculate ratios appropriate for your not-for-profit, and then benchmarking those ratios against past performance, management objectives, or other similar not-for-profit organizations.

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Topics: not-for-profit, NFP, financial performance measurement, financial ratio analysis, nonprofit, ratio

Today’s Trends for Not-For-Profits
Posted by Chrissy Hammond on Mon, Jul 1, 2019 @ 10:19 AM

Not-for-profit organizations benefitted from a stronger economy and higher per capita disposable income in recent years. But each sector also faces unique challenges for future growth ranging from the effect of social media on civic organizations to the impact the low employment rate is having on higher education.

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Topics: not-for-profit, NFP, nonprofit, IBISWorld, Not-for-profit trends

Don’t Let Independent Contractors Put Your Organization in a Chokehold
Posted by Chrissy Hammond on Fri, May 31, 2019 @ 11:58 AM

Independent contractor or employee? The question has entered the ring after late-night comedian John Oliver criticized World Wrestling Entertainment for not considering its star wrestlers employees.

He makes a compelling case on his show, Last Week Tonight, that WWE wrestlers should be considered employees who are entitled to benefits such as health insurance, paid time off, and retirement plans. Both classifications of workers are important to the economy, especially as an estimated 56.7 million Americans are choosing to freelance.

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Topics: FICA, not-for-profit, nonprofit, Independent Contractor

Make Your Audit Committee Meaningful Again
Posted by Rich Howard on Fri, May 31, 2019 @ 11:07 AM

Economics 101 teaches us that time can be quantified in dollars and cents, and that if you want to measure the value of your time—i.e., your opportunity cost—start by looking at your hourly wage. Applying the opportunity cost idea to audit committees can make an audit committee seem like a hugely expensive venture.

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

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