The New England Not-For-Profit Accounting Advisor

Over the last few years, we have seen some clear trends and evolving practices on governance and risk management. This summary will allow you to assess some best practices we have observed so you can evaluate ideas and opportunities for possible improvement or evolution within your own not-for-profit organization.

Topics: Non-profits, NFP, Mike Burns, risk management, Governance

Human and social service organizations that contract with Massachusetts take note: new guidance is available for their 2015 fiscal year reporting. The Massachusetts Operational Services Division recently published the 2015 version of the Uniform Financial Statements and Independent Auditor’s Report (UFR) Audit and Preparation Manual, Compliance Supplement and 2015 Excel UFR Template.

Topics: Janet O’Neill, FY2015

The IRS is developing a technology solution that would streamline its ability to release digital copies of the Form 990 tax information filings. An announcement about the option comes on the heels of a U.S. district court ruling that ordered the IRS to produce digitally readable Forms 990 of nine organizations. Currently, the IRS releases digital copies of Forms 990 as image files. The new software would produce versions of the Forms 990 in the Metadata Exchange Format, also known as a machine-readable format and remove any personally identifiable information from the Form 990. It is slated for release in early 2016.

 

Topics: Form 990, Betty Isler

Catastrophe happens when an already devastating event—sexual assault in an academic setting—gets mishandled. Failing to comply with Title IX requirements can signal disastrous consequences for the alleged victim, the community, the university’s reputation and its financial backing.

 

Topics: Title IX, John Mulvaney