Not-for-Profit

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…

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…

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…

Fundraising During Uncertainties: A Not-for-profit Organization Forum Recap

From actively engaging on social media to hosting online galas, we spoke virtually with local not-for-profit leaders to discuss best practices for fundraising during…

Updates to the Accounting Methods for the Paycheck Protection Program Loan

As the U.S. Small Business Administration (SBA) continues to issue interim final rulings with clarifications and illustrations regarding the various aspects of the Paycheck…

Federal Reserve Releases Guidance on “Main Street Lending Program”

With all the buzz around the COVID-19 pandemic hardship loan programs, the Main Street Lending Program (MSLP) is probably one that you’re least familiar…

Proposed Regulations & FAQs for Not-for-Profit Organizations to Keep on Their Radar

The IRS Releases Proposed Regulations on Wage Excise Tax and FAQs on NOL Carrybacks The IRS has stayed busy during the pandemic, offering guidance…

Critical Investment Strategies for Not-For-Profits During COVID-19

As businesses in industries across the board continue to adapt to the unique challenges presented by COVID-19, many not-for-profit organizations had to think outside the…

Potential Extension for Not-for-Profit Organizations Adopting the Revenue Recognition Standard

As the COVID-19 crisis postpones the Olympics, the Tony Awards, the Kentucky Derby and more, the Financial Accounting Standards Board (FASB) also determined a…

Clarification on Return of Title IV Funds for Postsecondary Institutions

The entire world is affected by the Coronavirus (COVID-19) pandemic, and many industries are being impacted in different ways. Look no further than postsecondary…

Federal Financial Assistance Impacted by COVID-19

Article updated on May 11, 2020 On March 9, 2020, the Office of Management and Budget (OMB) issued M-20-11, “Administrative Relief for Recipients and…

Proposed Regulations Under Section 512(a)(6) for Not-for-Profit Organizations

Amidst the large amount of guidance pending for the CARES Act, the IRS has released the long-awaited Proposed Regulations under Section 512(a)(6), related to…

Webinar: Composite Score and Financial Responsibility Changes

Join our expert Raymond Krouse, CPA as he covers how recent accounting standards required the Department of Education to modify terminology used to calculate…

Accounting Methods for the Paycheck Protection Program Loan

As legislation is passed at an increased speed to combat challenges presented by the COVID-19 crisis, accounting methods for the Paycheck Protection Program (PPP)…

Proposed Deferral of Lease Standards Due to COVID-19 Business Interruptions

On April 8, 2020, the Financial Accounting Standards Board (FASB) proposed the deferral of Accounting Standards Update No. 2016-02, Leases (Topic 842), and subsequent…

COVID-19 Guide for Not-for-Profit Organizations

As the COVID-19 pandemic continues to disrupt our day-to-day, we are presented with unprecedented challenges that force the not-for-profit industry to quickly adapt to…

Statement on Auditing Standards 134: What You Need To Know for Your Audit

Your organization’s audit might not be top-of-mind at the moment due to changing legislation relative to COVID-19. That said, it’s important for not-for-profits to…