With only a few months left, the countdown to the mandatory 403(b) plan document restatement deadline is officially underway. All organizations that sponsor 403(b) retirement plans must restate their plan documents by March 31, 2020, using either the IRS’s pre-approved document or an individually designed plan document.
Topics: not-for-profit, IRS, 403(b), NFP, 403(b) Plan Document Restatement
Complex standards and organizations’ implementation efforts related to those standards will continue to dominate the accounting conversations for not-for-profits throughout the year. Organizations that follow a fiscal year-end should now be putting the finishing touches on their revenue recognition and contribution accounting adoption efforts. Not-for-profits that follow a calendar year-end will soon be tackling the leasing standard. Below is a preview of what organizations can expect from their 2020 accounting.
Topics: Revenue Recognition Standard, not-for-profit, Mark Winiarski, Revenue recognition, Lease Standards, leasing standard, revenue recognition for nonprofits, ASC Topic 606
