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
The CBIZ Main Street Index report takes the pulse of organizations like yours and provides useful data and insights for your organization to leverage. The information below highlights the data from Main Street Index for the Not-For-Profit Industry. See how your organization compares to other not-for-profits in the areas of revenue, growth areas, and workforce arrangements.
Topics: NFP, nonprofit, Nonprofit Board, COVID-19, Paycheck Protection Program, PPP, higher education, ERTC, health and human services, revenue, emergency disaster loans, post-pandemic, hybrid, main street index results
Higher Education continues to be an attractive target for cyber criminals. In July 2020, Comparitech reported that 1,327 data breaches in the education sector had resulted in the exposure of 24.5 million records since 2005. Higher education accounted for three-quarters of those breaches. Why not, with the gold mine of data that pays the bills for cybercrime, including students, families, employees, faculty, partners and donors’ information?
Topics: enterprise risk management, Chief Financial Officers, CFO, NFP, board members, cybersecurity, cyber risk assessment, nonprofit, Nonprofit Board, cyber attacks, risk assessment, higher education, NIST
On July 27, 2021, the Government Audit Quality Center of the AICPA announced that the initial 2021 compliance supplement relative to federal awards is expected to be released in August 2021. This should resolve much of the ambiguity around major program determination and testing requirements for this year. The key take-away points are as follows:
Topics: AICPA, NFP, nonprofit, Nonprofit Board, COVID19, higher education, SEFA, health and human services, HEERF, Provider Relief Funds, compliance supplement
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, 2020 the Internal Revenue Service (IRS) extended the mandatory 403(b) plan document restatement deadline from March 31, 2020 to June 30, 2020 due to the current COVID-19 pandemic. All organizations that sponsor 403(b) retirement plans must restate their plan documents by this new date using either the IRS’s pre-approved document or an individually designed plan document.
Not-for-profit organizations have an opportunity during the restatement period to align their retirement plan procedures with their written plan documents to help ensure that their retirement plans are following best practices. Changes may need to be made to the operations of the plan, the provisions in the plan documents, or both. The following can help organizations with their review process.
Topics: not-for-profit, IRS, 403(b), NFP, nonprofit, 403(b) Plan Document Restatement, Department of Labor, DOL, Internal Revenue Service, COVID-19, extension, deadline
In response to the financial damage related to the COVID-19 pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among its other provisions, the CARES Act enhanced lending programs and offerings for not-for-profit organizations, which have particularly been affected by the stay-at-home orders and financial uncertainty caused by the coronavirus disease.
There are several loan programs available that may benefit your organization. We have compiled some frequently asked questions to help capture information on how your not-for-profit can take advantage of the relief provisions.
Topics: nonprofit, Coronavirus, COVID-19, Main Street Lending Program, Economic Injury Disaster Loan Funding, EIDL, disaster relief, loan
