Nonprofit Accounting Services

The Internal Revenue Service (“IRS”) recently introduced several changes that could have a material impact on not-for-profit organizations in 2020...

President Trump recently signed into law a government funding bill that repeals Sec. 512(a)(7). Prior law required that tax-exempt organizations...

The passage of the Taxpayer First Act (“TFA”) in 2019 redefines some of the IRS’ processes and structure, with the...

This edition of Nonprofit Advisor delivers an attorney’s insights on representing clients whose revenue streams have come under Internal Revenue...

According to a recent Fidelity Investments report, a relatively low percentage (36%) of donors understand the fundamental principles of donor...

Missed our recent webinar on the New Nonprofit Reporting Standards? Don't worry, you can still tune into the webinar to tap into valuable...

Your nonprofit's mission is too valuable to be impeded by speed bumps in the new accounting pronouncements. Our nonprofit tax and accounting...

Equifax. Yahoo. Marriott. Large scale data breaches only affect large, well-known, for-profit organizations, right? Unfortunately, as The Utah Food Bank...

Today’s diamond industry is fraught with ever-growing challenges, including those associated with transparency, privacy, traceability, compliance and trust. Compliance costs...

Watch this exclusive video featuring Jonathan Curry-Edwards, CPA on ways to help you maximize the tax benefits of your charitable contributions. Read the Transcript It’s...

Of all the changes in the new nonprofit financial reporting standard (ASU 2016-14), the Nonprofit Liquidity Disclosure has drawn the most...

The new revenue recognition guidance, issued by the Financial Accounting Standards Board, takes effect for fiscal years beginning December 15,...

Join Nonprofit Director, Sarah Avery for an exclusive on-demand webinar addressing tax laws surrounding private foundations. The webinar will cover critical topics including: Applying for...

Prevent unwelcome surprises when filing 2018 returns with must-know details on the changes impacting the Unrelated Business Income Tax ("UBIT")...

Amish Mehta, Partner and Nonprofit Practice Leader and Denise McKnight Partner in Friedman's Philadelphia office led an exclusive training session on...

A nonprofit doesn’t need to be in “crisis mode” to consider the benefits of a collaboration or merger. Sometimes, the...

Since January 2016, cyber security incidents in Kindergarten through 12th grade public schools across the United States are up 223%...

Donors want to know how the Tax Cuts and Jobs Act will impact their taxes and affect their donations to...

Nonprofits may suffer immensely from the impact of the new 2017 tax law. as The Tax Policy Center “expects giving...

Living in the peak of digital existence makes Warren Buffet’s timeless quote more appropriate than ever, "It takes 20 years...

Pennsylvania Act 71, signed by Governor Tom Wolf into law on December 22, 2017, raises the contribution thresholds at which...

The “Tax Cuts and Jobs Act,” signed by President Trump on December 22, 2017 includes three sweeping tax law changes...

Donors and policymakers have become increasingly systemic in their consideration of nonprofit endowment management. Whereas the more traditional approach...

Friedman LLP’s Mike Greenwald shares insights in Long Island Business News in an article about “The Consequences of Saying ‘No’...

Knowing the best steps to take in order to secure your nonprofit’s longevity can be daunting in an ever-changing tax...

Hiring a nonprofit consultant to execute and amplify your organization’s philanthropic initiatives may seem like a no-brainer. However, subpar fundraising...

CPA Practice Advisors spotlights the Friedman Share to Care Social Giving Campaign in support of nonprofit client, Urban Arts Partnership....

In the aftermath of the devastation caused by Hurricanes Harvey, Irma and Maria alongside earthquakes in Mexico, many rush to...

Knowing your options for providing assistance is the first step toward making a big impact on communities that have been...

As charitable organizations continue to struggle to raise funds in support of their mission, some of which still haven’t recovered...

The potential impact of tax reform proposals by the Congressional House Ways and Means Committee and the Trump Administration has...

“Capacity building” is a broad term which is in vogue among non-profit organizations. In a nutshell, capacity building refers to...

It’s a year after implementation of the Uniform Guidance, which was effective for all federal awards provided after December 26,...

Most organizations exempt from tax under Internal Revenue Code (“IRC”) Section 501(a), including charitable, religious, scientific, and other organizations described...

Every nonprofit board in America has had a conversation similar to this at least once: -Board Member #1 – “We have...

The current political climate has landed tax advisors in an unpleasant quandary, forcing them to be the bearer of both...

As we begin 2017, many non-profits are entering the year with a level of uncertainty about how the upcoming changes...

With the President-elect now officially confirmed through the Electoral College vote and expected to take office on January 20, 2017,...

Since the reporting requirements for 403(b) plans changed in 2009, our audits have uncovered certain common deficiencies. In this article,...

Amid mounting concerns over cybersecurity, social media scrutiny and reputational risk, it is crucial that not-for-profit organizations (“NFP’s”) have good...

In August of 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-14, “Presentation of Financial...

It was recently reported that the Schlichter Bogard law firm filed lawsuits against NYU, MIT, Yale, Duke, Vanderbilt, Johns Hopkins,...

On May 18, 2016, the Department of Labor (DOL) announced the Overtime Final Rule. Since then, volumes have been written...

To help you better understand the Form 990, and as a follow-up to last month’s Nonprofit Advisor article on marketing considerations,...

As most exempt organizations know all too well, preparing federal tax Form 990 can be a time consuming and complicated...

For nonprofit board members and senior managers, creating a performance dashboard is a beneficial tool to help their organization meet...

Friedman’s Amish Mehta, Not-for-Profit Practice Leader, and Peter Manzetti, Director of Governance, Risk, and Compliance Services, presented this Guidestar webinar...

At a time when digital and social marketing is becoming an essential component of overall advertising strategy, nonprofit organizations often...

Financial Accounting Standards Board issues simplified revenue recognition guidance effective for annual reporting periods after December 15, 2018. How will this...

In 2013, Guidestar, BBB Wise Giving and Charity Navigator, three of the leading sources for information on nonprofit organizations, joined...

For busy nonprofit business leaders and board members, a seemingly endless stream of reports, meetings, emails, phone calls and text...

Charitable organizations continue to be subjected to increasing scrutiny by the public and by the Internal Revenue Service (“IRS”). In...

If you have ever served as a board member to a nonprofit organization, you probably know the rewards, as well...

Amish Mehta, Friedman LLP partner and not-for-profit practice leader, sat down with The Street to discuss charity fraud.

The Financial Accounting Standards Board ("FASB") issued an exposure draft on April 22, 2015 proposing sweeping changes to the not-for-profit financial reporting model encompassing liquidity, cash flows, operating results, expense reporting and other disclosures intended to enhance comparability between nonprofits. But changing a model that professionals, management, and other users have become accustomed to may shake up the not-for-profit reporting world for financial professionals.

When it comes to not-for-profit organizations and their retirement plans, enterprise-wide governance and internal controls are critical considerations for senior executives. The ultimate goal is to create and administer retirement plans that offer employees viable savings opportunities and that comply with Internal Revenue Service and Department of Labor regulations. What factors should be considered as you strive to achieve that goal?

One of the more difficult reporting issues facing not-for-profit organizations is the classification of net assets between unrestricted, temporarily restricted, and permanently restricted categories.  These categories are based on the existence or absence of donor-imposed restrictions, and are defined in the accounting standards under FASB ASC 958-210-20.  Readers rely on these classifications to determine what assets have external purpose or time restrictions or to put it simply, what assets are spoken for and what assets are available for use.  While this net asset reporting model has been around for quite some time, challenging classification issues and reporting pitfalls still exist. 

OMB Circular A-133 requires higher education and nonprofit institutions that expend a specific threshold of federal funds to annually undergo...

As the world continues to get smaller and as more and more taxpayers want to see the instant benefit that their...

This past October, the Friedman LLP team was a first-time sponsor at the 2014 BoardSource Leadership Forum (BLF) held in Washington, D.C. The annual two-day conference was attended by BLF members from around the United States, which included nonprofits' board members, chief executives, staff and professionals. BoardSource's mission is dedicated to the advancement of the public good by building exceptional nonprofit boards who will aspire to quality board service.

Encompassed in sweeping tax reform changes proposed by the Committee on Ways and Means and the Senate Committee on Finance...

Given the challenging economic times we find ourselves in, many nonprofit organizations are questioning whether to hire a professional fundraiser to supplement their own fundraising efforts. Often the perception is that professional or paid fundraising campaigns are expensive and only for the larger nonprofit organizations. So, does size really matter, and when does it make sense for a charity to work with a professional fundraiser?

GuideStar, a public charity that provides unbiased information about nonprofits, is one of the nation's most visible advocates for advancing nonprofit transparency.

Friedman LLP Partner and Director of the Not-For-Profit Services Group Amish Mehta was recently interviewed by AccountingToday.com Editor-in-Chief Michael Cohn for the site's Podcast.

The Committee of Sponsoring Organizations (COSO) is a joint initiative of five private sector organizations that is dedicated to improving organizational governance through the development of frameworks and guidance on risk management, internal control and fraud deterrence.

According to the IRS, tens of thousands of nonprofit organizations have their tax-exempt status revoked every year.

The practice of philanthropy has played an enormous role in the building and promoting of education, religion, social welfare, the arts and charitable institutions.

Earlier this year, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-06, "Not-for-Profit Entities (Topic 958)...

If you haven't already taken steps toward compliance with the next wave of Affordable Care Act requirements, now is the time to do so.

Increasingly, globalization is impacting the tax-exempt sector's activities including fundraising, grantmaking and investing.

Friedman is proud to sponsor the Women in Nonprofit Leadership Conference! The goal of the conference is to bring together women...

Friedman LLP is proud to be a sponsor of the Nonprofit Leadership Breakfast Series event, "Optimizing the Use of Technology to Drive...

Friedman LLP is hosting an exclusive webinar in collaboration with Firespring. Join host, Nonprofit Practice Leader Amish Mehta as we examine how...

Denise McKnight, CPA, Partner at Friedman LLP will present a training session on everything you need to know about the...

Join Friedman LLP and U.S. Trust for a dynamic discussion covering the latest information on tax reform and its impact...

Friedman LLP is a proud sponsor of the 2018 Women in Nonprofit Leadership Conference. The ever-evolving management structure in the...

Numbers tell the story when it comes to surviving the mounting pressures nonprofit leaders face when proving that they are...

Friedman LLP is hosting an engaging discussion on leading questions that are dominating the nonprofit sector. Industry thought leaders answer...

Friedman LLP is hosting an exclusive webinar in collaboration with Firespring. Join host Nonprofit Practice Leader Amish Mehta as we...

On October 20th Sarah Avery, CPA, Director in Friedman LLP’s Nonprofit Practice will be co-hosting a webinar on the best...

Friedman is a proud platinum sponsor of ‘The Right Notes: Wine Tasting Benefit’. Guests will convene for an evening of...

Friedman is a proud sponsor of the Hopeworks Annual Dinner! Hopeworks empowers today’s youth to earn a sustainable living by...

Amish Mehta and Denise McKnight will present a training session on everything you need to know about the new financial...

Sarah Avery, Director in Friedman’s Not-for-Profit Practice, will moderate at the next Association of Fundraising Professionals – New Jersey chapter...

Friedman LLP is proud to be presenting and exhibiting at the 2015 annual New Jersey Non-Profit Conference. Join us to...

Friedman LLP is proud to be speaking this year at the Boardsource Leadership Forum on November 9-10 in New Orleans. Amish...