Nontraditional Partnerships for Not-for-Profits: What to Consider Before Signing On

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 even other NFPs. Health care systems operating in the NFP industry have led the way by entering into partnerships with businesses to co-brand pharmacies, provide direct services for businesses’ employees, and to develop new technology and apps.

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Topics: Not-for-Profit, Nontraditional Partnerships

Donor Statements are the Key to Building Trust and Accountability

Posted by Scott Gorby, Staff II, ACS on Feb 3, 2020

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.

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Topics: Not-for-Profit, Donor Statements

Strategic planning: A better “real-time” approach

“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 approach to strategic planning, spending months or even years to develop formal written plans that lay out specific goals for set periods of time.

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Topics: Not-for-Profit, Strategic Planning

Recognizing Revenue in Not-for-Profits: The Effects of ASU 2018-08

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 all revenue streams for all industries except for recognition of revenue from contributions to not-for-profit (NFP) organizations. The FASB vowed to return one day and finish what they started by addressing how NFPs should account for contributions, and four years later they did. ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made, was issued in June 2018 to tackle diversity in practice regarding recording contributions, to clarify the steps a NFP organization should consider in determining whether a transaction is a contribution or an exchange, and to refocus attention on what constitutes a donor restriction and a donor condition.

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Topics: Not-for-Profit, Revenue Recognition

Is a merger right for you?

Posted by Cindy Salazar on May 29, 2019

In the wake of the new tax law and other developments, many not-for-profits are looking for ways to solidify their financial footing—including the possibility of merging with another organization. However, a merger isn’t something into which any organization should enter lightly.  It’s a big step that requires careful planning and consideration.

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Topics: Not-for-Profit

Is Your Company Ready For Any Kind of Disaster?

Posted by James Youngblood, Partner, Tax Services on Apr 1, 2019

No organization today, nonprofit or otherwise, can afford to ignore the possibility of a natural or manmade threat that cripples operations. From hurricanes and wildfires, active shooters and cyberattacks, to things as seemingly minor as a burst pipe, your operations are vulnerable. While some disasters are unpreventable, you nonetheless can reduce the repercussions by preparing now.

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Topics: Not-for-Profit, NFP

Changing the Rules: The TCJA and how it effects UBI

As the Tax Cuts and Jobs Act (TCJA) made its way through Congress, many nonprofits understandably focused on the provisions likely to affect charitable giving. But the law also contains some significant requirements affecting unrelated business income (UBI). If you engage in “unrelated business” — and even if you don’t — you could find that your unrelated business income tax (UBIT) liability increases under the new law.

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Topics: Accounting Tips, Not-for-Profit, accounting, TCJA, UBI

Four ideas to counter shrinking donations under the new tax law

Posted by James Youngblood, Partner, Tax Services on Jul 25, 2018

Passage of the Tax Cuts and Jobs Act (TCJA) last year spread dismay in the nonprofit community. With several provisions in the law expected to depress charitable giving, nonprofits should mobilize to minimize the negative impact on their bottom lines.

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Topics: Not-for-Profit, Tax, consulting, accounting

News for Not-for-Profits — June 2018 edition

Do you qualify for the new family leave credit?

The new tax law creates a credit for eligible employers in 2018 and 2019 based on paid leave for up to 12 weeks, granted under the federal Family and Medical Leave Act ("FMLA"). Employers aren’t required to pay employees for FMLA leave, but — for 2018 and 2019 — those that do may qualify for a tax credit of 12.5% of the wages paid. That’s if the rate of payment under the leave program is at least 50% of employees’ regular rate.

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Topics: Accounting Tips, Not-for-Profit, Audit, Financial, consulting

Seven more tips and tricks for SEO

Posted by Victoria Hernandez, Communications on May 30, 2018

The more people come to your site, the more likely they are to become clients or customers. Continuing to drive people to your site is beneficial for your overall business. In this last installment of the search engine optimization (“SEO”) series, we’ll be covering a few more tips that will help bring traffic to your site again and again.

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Topics: Auto, Manufacturing & Distribution, Real Estate, Not-for-Profit, Healthcare, Construction

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