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Not-for-Profit

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

Reading Time: 6 minutes
  • June 11, 2020
  • Accounting | COVID-19 | Not-for-Profit
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…
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Potential Extension for Not-for-Profit Organizations Adopting the Revenue Recognition Standard

Reading Time: 2 minutes
  • June 1, 2020
  • Accounting | Not-for-Profit
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…
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Clarification on Return of Title IV Funds for Postsecondary Institutions

Reading Time: 4 minutes
  • May 20, 2020
  • COVID-19 | Not-for-Profit | Title IV
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…
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Federal Financial Assistance Impacted by COVID-19

Reading Time: 5 minutes
  • May 11, 2020
  • Audit and Tax | COVID-19 | Not-for-Profit
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…
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Proposed Regulations Under Section 512(a)(6) for Not-for-Profit Organizations

Reading Time: 2 minutes
  • May 7, 2020
  • COVID-19 | Not-for-Profit | Tax
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…
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Sikich-On-Webinar-FI

Webinar: Composite Score and Financial Responsibility Changes

Reading Time: 1 minute
  • April 29, 2020
  • Not-for-Profit | Title IV
Join our expert Raymond Krouse, CPA as he covers how recent accounting standards required the Department of Education to modify terminology used to calculate…
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Accounting Methods for the Paycheck Protection Program Loan

Reading Time: 6 minutes
  • April 23, 2020
  • Accounting | COVID-19 | Not-for-Profit
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)…
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Proposed Deferral of Lease Standards Due to COVID-19 Business Interruptions

Reading Time: 2 minutes
  • April 23, 2020
  • Accounting | COVID-19 | Not-for-Profit
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…
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COVID-19 Guide for Not-for-Profit Organizations

Reading Time: 5 minutes
  • April 20, 2020
  • COVID-19 | Not-for-Profit | Tax
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…
Read More
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Statement on Auditing Standards 134: What You Need To Know for Your Audit

Reading Time: 3 minutes
  • April 20, 2020
  • Audit and Tax | Not-for-Profit
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…
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CARES Act Emergency Grants for Higher Education

Reading Time: 3 minutes
  • April 14, 2020
  • COVID-19 | Not-for-Profit
As higher education institutions and your students are encountering unique challenges and unexpected costs, the Department of Education has announced distribution of funding allocations…
Read More
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Clarifications of an Institution’s Composite Score

Reading Time: 6 minutes
  • April 13, 2020
  • Not-for-Profit | Title IV
The Department of Education’s clarification of an institution’s calculation of the composite score to confirm with changes in certain accounting standards On September 23,…
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Securing Donations During Difficult Times

Reading Time: 3 minutes
  • April 10, 2020
  • COVID-19 | Not-for-Profit | Tax
As you work to navigate these difficult times as a leader of a not-for-profit organization, it’s important to continue thinking about charitable contributions and…
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Fraud Happens: Prevention Starts with a Plan and a Strong Will

Reading Time: 6 minutes
  • April 9, 2020
  • Audit and Tax | Forensic & Valuation | Not-for-Profit
External audits are essential tools to help uncover critical information about a Not-For-Profit’s financial standing and overall health. Although auditors adhere to a strong,…
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How are NFPs and Their Auditors Reporting the Effects of COVID-19?

Reading Time: 4 minutes
  • March 25, 2020
  • Audit and Tax | COVID-19 | Not-for-Profit
Not-for-profit organizations and their auditors are now faced with the challenge of addressing the coronavirus pandemic (COVID-19) and its potentially harmful effects on the…
Read More
Audit Letters

What You Need to Know About Final Audit Determination Letters

Reading Time: 3 minutes
  • February 20, 2020
  • Not-for-Profit | Title IV
Final Audit Determination Letters (FADL) are the U.S. Department of Education’s (Department’s) final response to the institution’s annual Student Financial Aid (SFA) compliance audit….
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Financial literacy education

What to Do When You’re Thinking About Selling Your School

Reading Time: 4 minutes
  • February 19, 2020
  • Not-for-Profit | Title IV
An e-mail arrives in your inbox from an investor who is interested in acquiring your school. You have been on their radar for some time…
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Cars parked on the street at the Office corporate building.

The Repeal of the Parking Tax and Other Changes for NFPs

Reading Time: 2 minutes
  • February 3, 2020
  • Not-for-Profit | Tax
Major changes affecting not-for-profit organizations It’ll come as good news to all tax-exempt organizations that the “parking tax” was repealed and, to many, that…
Read More
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A Recap of Revenue Recognition for Tax-exempt Entities

Reading Time: 3 minutes
  • January 30, 2020
  • Not-for-Profit
Times can be trying for not-for-profits (NFPs) applying FASB Accounting Standards Codification (ASC) 606, Revenue for Contracts with Customers. As these standards keep changing,…
Read More
Pen Testing

The Differences Between Vulnerability Scanning and Penetration Testing

Reading Time: 7 minutes
  • January 16, 2020
  • Not-for-Profit | Technology
Today’s cybersecurity landscape has seen security consciousness grow amongst many organizations, such that organizations have moved from reactively scrambling to respond once a cybersecurity…
Read More
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