CBIZ acquired the non-attest practice and MHM (Mayer Hoffman McCann P.C.) acquired the attest practice of Marks Paneth, LLP, on January 1. Marks Paneth is a top 50 accounting provider in the nation with over 600 team members, representing the largest transaction in its history for both CBIZ and MHM. Marks Paneth provides services to many markets including a widely recognized and respected group dedicated to serving the not-for-profit sector.
Topics: non-for-profit, Non-profits, nonprofit, CBIZ & MHM, aquired, Marks Paneth, non-attest, attest, aquisition
The continuing COVID-19 pandemic has spared no industry, and the entertainment industry was particularly hard hit because of the lengthy lockdowns mandated by state regulations. The damage spanned various forms of entertainment and venues.
Topics: non-for-profit, Non-profits, single audit, nonprofit, federal government, Shuttered Venue Operator Grant, SVOG grant
Candidates for non-profit leadership roles often have for-profit or commercial backgrounds, and the reality is that non-profits are often unable to match the salaries they received in those roles. However, recent studies indicate that, among top talent, salary isn’t always the most important factor in a total rewards package.
Topics: non-for-profit, Non-profits, competing for talent, nonprofit, Nonprofit Board, leadership, Not-for-profit leadership, talent aquisition, how-to, Diversity, Equity and Inclusion, diversity, equity, inclusion
Organizations should be gearing up to file the Massachusetts “Return of Property Held for Charitable Purposes” (State Tax Form 3ABC). If you are a Massachusetts-domiciled charity that owned real or personal property as of January 1, you must file Form 3ABC by March 1 of that year to receive a local tax exemption for the fiscal year that begins the next July 1.
Topics: Massachusetts, non-for-profit, Non-profits, Form 3ABC, nonprofit, form PC, 3ABC
Summer started early for university campuses across the country. Many closed their campuses well in advance of the end of the semester in efforts to protect students and faculty from the COVID-19 pandemic.
Topics: non-for-profit, Non-profits, nonprofit, CCR, Construction, Construction Cost Review, Coronavirus, COVID-19
On March 27, President Trump signed into law a $2.2 trillion economic stimulus package in response to the COVID-19 pandemic. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes tax and non-tax provisions to assist individuals and not-for-profit organizations.
Topics: accounting, Non-profits, NFP, COVID19, Coronavirus, Families First Coronavirus Response Act, COVID-19
Repercussions from the COVID-19 virus affect almost every facet of your not-for-profit’s operations, from the delivery of your services to managing your workforce. Many cultural organizations and educational institutions must grapple with the public health safety measures that may have temporarily shuttered their operations. Protecting your employees and staff from contracting the highly contagious COVID-19 virus may be resulting in new policies around meetings, and remote work arrangements. To help protect your staff still on the premises, you may be called to increase the frequency and scope of your cleaning services.
Topics: accounting, Non-profits, NFP, COVID19, Coronavirus, Families First Coronavirus Response Act, COVID-19
Directors and Officers (D&O) coverage plays a vital role in an organization’s risk mitigation strategy, but for some not-for-profits, the insurance coverage may go under the radar. Executive leaders and board members should understand the basics of D&O coverage so they can carry out your fiduciary duties, as well as protect personal and organizational assets. The following provides a primer for what a not-for-profit’s C suite and board should know.
Topics: Non-profits, Not-for-Profits, NFP, D&O Insurance, Directors & Officers Insurance, D&O Coverage
Chief financial officers (CFOs), boards, and donors all want to see their not-for-profit organizations manage their financial resources well. They want as many dollars as possible put toward the programs and activities that further the organization’s mission. In other words, they want overhead and operating costs to be lower than program-related expenses. The question not-for-profits must ask is: are they setting the bar for overhead expenses too low?
Topics: Non-profits, Not-for-Profits, NFP, operating environment, operating costs, overhead costs, Overhead Caps
Not-for-profit organizations must be vigilant and careful shepherds of their monetary resources. Sometimes sound financial management takes some outside-of-the-box thinking. Not-for-profits do not have the same avenues to offset rising operational costs that for-profits might. They cannot, for example, raise additional revenue through price increases, product or packaging enhancements, or even service line extensions.
Topics: non-for-profit, Non-profits, nonprofit, CCR, Construction, Construction Cost Review
