Not-for-Profit

Updates to the Accounting Standards for Gifts-in-Kind and How They Impact Your Organization

In September 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed…

Recent Department Of Education Guidance On HEERF Grants

Much anticipated guidance for higher education institutions from the Department of Education was released following the Higher Education Emergency Relief Fund (HEERF) III under…

Common Findings Corner: Top 10 Compliance Findings

As much as everyone wants a clean audit each year, chances are that most audits will contain at least one finding. Title IV is…

5 Key Performance Indicators to Measure Your Association’s Success: Part 2

In today’s virtual environment, it’s more important than ever to know the difference between crucial information and noise when it comes to decision-making. In…

FAQs for Not-for-Profit Organizations and the COVID Relief Packages

At the onset of the COVID-19 pandemic last March, Congress enacted three pieces of legislation over a few short weeks – the largest being…

IRS Issues Final Regulations on Executive Compensation Tax for Exempt Organizations

On January 11, 2021, the IRS issued final regulations providing guidance on the federal excise tax on executive compensation in excess of $1,000,000 paid…

Final Regulations Released for UBTI of Separate Trades or Businesses in an Exempt Org

Back in May, the IRS released Proposed Regulations under Section 512(a)(6), related to the separate reporting for each unrelated trade or business of tax-exempt…

What to Consider When Converting from a Title IV School to a Not-for-Profit

Are you a for-profit institution owner considering an entity change? Are you curious what the benefits of being a not-for-profit educational institution are? There…

5 Key Performance Indicators to Measure Your Association’s Success: Part 1

We rely heavily on data when making strategic decisions. This is especially true today with the process of information sharing, in which data is almost always readily available. However, some data can be so voluminous…

Sustainability Through Hardship – Not-for-Profit Edition

Not-for-profit leaders have learned to quickly adapt this year, not by choice but out of necessity. Unlike many other industries, not-for-profit organizations rely entirely…

2020 Year-End Hot Topics for Not-for-Profits Webinar Recording

3 Ways PR Can Boost NFP Fundraising Efforts

Fundraising is essential to the livelihood of any not-for-profit organization – especially in the age of the coronavirus pandemic. While fundraising is top of…

Year-End Fundraising Strategies for Not-For-Profits

As we enter the last few months of 2020, it’s time for not-for-profit organizations to implement and activate their year-end fundraising strategies. Many challenges…

Pam Wright Featured in Crain’s Cleveland Business

Pam Wright authored an article, NEO nonprofits should rethink event fundraising beyond COVID-19, which appeared in Crain’s Cleveland Business. The article discusses the future…

Pattie Wagner Featured in University Business

Pattie Wagner authored an article on employee engagement for higher education professionals, which was featured in University Business. Pattie, SPHR, is a managing director…

Updated PPP Loan Forgiveness Application Forms: Impact on Not-for-Profit Organizations

On June 5, 2020, the President signed H.R. 7020, “The Paycheck Protection Program Flexibility Act of 2020” (“PPPFA”) into law, putting several tax efficient…

Not-for-profit Leadership Transition Planning

Leadership transition planning for any organization is a challenge. For mission-driven organizations, these transitions can be even more daunting, as planning relies on the…

Single Audit – Recent Developments from the Office of Management and Budget

The Office of Management and Budget (OMB) recently issued a memorandum repealing previously issued guidance on the extension of time to file with the…

Sikich’s Teri Taylor named one of Springfield’s ‘40 under 40’

SPRINGFIELD, Ill. — July 9, 2020 — The Springfield Business Journal recently named Teri Taylor, an audit manager on the not-for-profit and higher education team…

Managing Cash Flows During Times of Uncertainty

During times of uncertainty, understanding your not-for-profit organization’s cashflow becomes a valuable tool so you can better navigate your options, manage cash and direct management decisions. In this article, we explore how to take a closer look at and…