Not-for-Profit & Education

INSIGHTS

Unclaimed Property and Spring Reporting Due Dates Beginning March 1

Unclaimed property refers to certain types of “intangible property” (such as uncashed checks, securities, refunds, customer overpayments, etc.) that a business owes to its employees, customers, vendors, creditors, or shareholders where there has been no activity/contact with the owner of the property for a specified period of time (“dormancy period”).

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4 Reasons Private Companies Should Care About ESG

By now, ESG is an acronym that every business leader should recognize. That’s because environmental, social, and governance (ESG) programs have become increasingly common across the business landscape, regardless of industry.

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Proposed Requirements for Private Fund Advisors Aim for Transparency, Audits

Private fund advisors could face a financial statement audit and other reporting requirements under a proposed SEC rule change.

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What Not-for-Profits Need to Know About Restricted Grants

Donor-restricted grants can be a great way to fund your organization, but they can also be challenging. In this article, we'll look at the details related to restricted grant usage, how to navigate the complexities, and proactive steps you can take to address them in the future.

3 Takeaways from the OMB 2021 Compliance Supplement

In August the Office of Management and Budget (OMB) released its 2021 Compliance Supplement, 2 CFR Part 200 Appendix XI (Compliance Supplement), effecting Not-for-profits that receive federal grants.

This Not-for-Profit Sector is in the Crosshairs of Cyber Criminals

Some not-for-profit entities may be more vulnerable to information security incidents and data breaches. Here’s what your organization needs to know about to protect itself from key cybersecurity risks.

How Not-for-Profits Can Navigate the Intricacies of the Employee Retention Tax Credit

The Employee Retention Tax Credit (ERTC) was enacted as part of the early COVID-19 stimulus measures, and can be claimed through Dec. 31, 2021 by eligible employers who retained employees during the COVID-19 pandemic.

American Rescue Plan’s Impact on Not-for-Profits

Here’s a look at what the recent stimulus law means for not-for-profit organizations.

No PPP Loan for Your Not-for-Profit? Consider Shuttered Venue Operator Grants

Shuttered Venue Operator Grants may help cultural institutions hard hit by the COVID-19 disruption.

Ways Not-for-Profits Can Maximize the Consolidated Appropriations Act Stimulus Relief

Here are some ways that not-for-profit organizations can tap into stimulus benefits.

Developments That Could Affect 2020 Charitable Giving Results

The following are key developments not-for-profit organizations should know about charitable giving in 2020.

4 Things Your Not-for-Profit’s Board Should Know About COVID-19 Recovery

Here are four elements not-for-profits should be telling their boards about COVID-19 recovery.

Here’s How the Employee Retention Credit Can Help Not-for-Profit Organizations

Many not-for-profit organizations were forced to completely shutter operations because of the COVID-19 pandemic, making them eligible candidates for the Employee Retention Credit (ERC) benefit in the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

3 COVID-19 Impacts to Expect When Undergoing a Single Audit in 2020

Not-for-profit organizations that receive federal funds are subject to the requirements of the Uniform Grant Guidance, and the Subpart F Single Audit.

What Additional COVID-19 Legislation Could Look Like for Not-for-Profits

Proposed stimulus legislation would offer the following benefits to not-for-profit organizations.

Liquidity Concerns Troubling Your Not-for-Profit? Consider the Main Street Lending Program

Details were recently finalized about how nonprofits can access the Main Street Lending Program.

Reporting Requirements Impact Private Colleges and Universities

Private colleges and universities face reporting changes.

Memo Clarifies Single Audit Relief Provisions

A recent memo clarifies Single Audit requirements.

Federal Reserve Considers Expanding Main Street to Not-for-Profits

As part of its recent review of the CARES Act loan programs, the Federal Reserve is evaluating whether to expand its Main Street loan facilities to include not-for-profit organizations.

How Not-for-Profits Account for PPP Loans

Not-for-profit organizations have clearer guidance on how to account for PPP loans than other types of organizations.

FASB Vote on Rev Rec and Leasing Deferral Sends Mixed Relief for Not-for-Profits

A recent decision to delay the effective date for the revenue recognition and leasing accounting standards may bring some relief for not-for-profits, but for those approaching their June 30 financial statements, some of the changes may be coming too late.

Campus Is Shut Down – What Can Be Done to Maximize This Time?

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.

Coronavirus Capital Assistance and Disaster Relief Fund Guide for Not-for-Profit Organizations

In response to the financial damage related to the COVID-19 pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

5 Ways Not-for-Profits Can Capture the Benefits of the CARES Act

Not-for-profit organizations should look to the CARES Act for COVID-19 pandemic relief.

6 Tips to Help Not-for-Profits Manage Coronavirus Impact

The following tips may help not-for-profits manage the repercussions from the coronavirus pandemic.

Biggest Stories in 2020 for Not-For-Profit Risk Management

Our team recently gathered feedback from not-for-profit and higher education professionals about their approach to key risks and challenges. Their insights may be a useful guide in allocating your organization’s risk management resources this year.

Clarifications Coming to Not-for-Profit Accounting for Contributions of Nonfinancial Assets

Insight into how not-for-profit organizations use financial donations has long been easier to get than information on how organizations use their nonfinancial contributions, such as donated services. A proposed accounting change would require organizations to disclose more detail about their use of nonfinancial assets.

2020 Not-for-Profit Accounting Preview

Complex standards and organizations’ implementation efforts related to those standards will continue to dominate the accounting conversations for not-for-profits throughout the year.

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Key Contact

Michael Burns

mburns@cbiz.com (617) 761-0584

Not-for-Profit & Education