The Financial Accounting Standards Board (FASB) has released Accounting Standard Update (ASU) 2020-07, Not-for-Profit Reporting of Gifts-in-Kind. The purpose of the ASU is to improve GAAP...
In my desire to be more philanthropic I began serving on a finance committee for a foundation. During this time, I was introduced to one of the most impactful giving tools—the donor advised fund....
Like all business operations, the COVID-19 pandemic is changing how not-for-profit organizations execute their fundraising activities. No one knows how long the crisis will last, and...
As the new paradigm of the global pandemic sets in, many not-for-profit organizations are pivoting to adapt and cope. Many organizations are making changes to their services, operations, and...
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...
The U.S. government has approved far-reaching legislation to provide relief to American families, businesses, and not-for-profit organizations. Two significant bills are the Families First...
Reductions in state and federal budgets have prompted many not-for-profit (NFP) organizations to find new ways to achieve their mission by seeking nontraditional partnerships with businesses and...
Donors have a desire to make a difference. This is why they seek organizations that align with their own personal missions and make an impact in their communities.
“Life moves pretty fast.” So observed Ferris Bueller back in the summer of 1986 — and that pace has only accelerated in the 30+ years since. Yet many not-for-profits continue to take an old-school...
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU affected predominantly...