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Nonprofit organizations with federal tax-exempt status must file Form 990 with the IRS each year. This form requests information about an organization’s operations, management, revenue and expenses....
Nonprofit organizations must keep up with a rather large amount of paperwork to maintain their tax-exempt status with the IRS. This includes filing regular tax and information returns. New IRS...
Nonprofit organizations (NPOs) that serve low-income communities often have difficulty raising funds to pursue their missions. The COVID-19 pandemic made fundraising even more difficult. Many NPOs...
A set of accounting standards for leases is now mandatory for most business entities in the U.S., including not-for-profit organizations (NFPs). These standards, known as ASC 842, began to take...
Government funding brings some rather complicated reporting and auditing requirements. This can apply to both for-profit businesses and not-for-profit organizations (NFPs) that receive federal...
Inflation has recently soared to the highest levels the United States has seen in about four decades. In June 2022, the U.S. Bureau of Labor Statistics reported that prices had risen 8.6 percent over...
David Ovesen, CPA started with LGT on September 1, 1987 as a staff accountant and along Lee Ann Collins, the current managing partner; Bill Walsh, financial advisors partner; and tax principal Renee...