Not-for-Profit & Education Archives

Navigating the New OMB Compliance Supplement: What You Need to Know

The much-anticipated 2023 OMB Compliance Supplement was issued in May 2023; however, it is effective for year ends beginning after June 30, 2022, so…

Endowments in an Underwater Environment

In today’s ever-changing marketplace, not-for-profit organizations face many difficulties, such as generational turnover, sourcing new major donors, reduction in past donors’ willingness to give,…

Energy Credits & Not-for-Profits: What You Need To Know

The Inflation Reduction Act (IRA) of 2022 created and expanded many useful energy-related credits and even included a few ways for not-for-profit organizations to…

Common Errors in Financial Statements and How to Avoid Them

This June, I had the opportunity to speak at the AICPA & CIMA Not-for-Profit Industry Conference about common errors in financial statements and how…

Not-For-Profit Board Governance and Internal Controls

While not-for-profit and for-profit organizations differ in several ways, such as funding and taxes, they are undifferentiated in two fundamental ways: identifiable risks and…

What’s the Latest? Changes to the 90/10 Rule

Updated April 28, 2023 A Recap of the Department of Education’s Changes to the 90/10 Rule In the fall of 2022, the Department of…

Gramm-Leach-Bliley Act (GLBA) Cybersecurity Updates in Higher Ed

To help address concerns relating to consumer information, the Gramm-Leach-Bliley Act (GLBA) ensures certain privacy protections and safeguards are in place for financial institutions….

Third-Party Servicer Guidance: Updates for Institutions and Servicers

Title IV Common Findings Corner The Department of Education recently released GEN-23-03, a “Dear Colleague Letter,” to redefine and clarify its position on which…

What You Need to Know about Cryptocurrency Contributions and Charitable Deductions as a Not-for-Profit Organization

Monetary donations are a large part of a not-for-profit organization’s funding portfolio. With many individual taxpayers contributing donations through non-cash means, it’s important to…

Updates to Changes in Ownership for Education Institutions

A Summary of the Department of Education’s Updates for Changes in Ownership On July 28, 2022, the Department of Education published its proposed revisions…

Improving your For-profit Institutions’ Cohort Default Rate after Loan Forgiveness

Prior to President Biden’s student loan forgiveness and payment extension announcement, the Department of Education stated it would help eliminate the impact of past…

National Student Loan Data System Website Updates to Know

On July 25, 2022, the National Student Loan Data System (NSLDS) launched a modernized website for professional users with the intention of improving customer…

When School Shootings Don’t Happen: Keeping Your Campus Safe

An analysis of averted school violence conducted in 2021 by the National Police Foundation and the U.S. Department of Justice’s Office of Community Oriented…

New Lease Accounting Considerations for Not-For-Profit Entities: No and Below Market Rents

It’s not uncommon for not-for-profit entities to be allowed to use real estate or equipment for no (or, de minimis) payment or for amounts…

What Your Organization Needs to Know About Form 990 – A Webinar Recap

At our recent not-for-profit webinar, we covered commonly asked questions about Form 990 with finance leaders and board members across our footprint. Form 990…

Sales Tax Revisions for Indiana & Wisconsin Not-for-Profit Organizations

Starting July 1 for Indiana and just recently started on June 1 in Wisconsin, new sales tax changes were passed that will impact not-for-profit…

Benchmarking, Outsourcing & Automating: The Benefits for Not-for-Profit Organizations

Not-for-profit organizations are always evolving to meet the needs of their communities and the people they serve. This can only be accomplished when employees…

Filling the Talent Gap in Not-for-Profits

Earlier this month, we met with leading not-for-profit executives and HR leaders to discuss strategies around combatting the talent gap in this industry. As…

D365 Cloud ERP 101: BI and Analytics Planning

As you set out on a new Microsoft Dynamics 365 ERP project, it is very important to plan for and consider the role of…

Common Findings Corner: Top 10 Compliance & Program Review Findings

Quick hits on hot topics for higher education institutions The Department of Education hosted the Federal Student Aid (FSA) Training Conference for Financial Aid…