In December 2023, the FASB issued ASU 2023-09, which amends ASC 740, Income Taxes, to enhance the transparency and disaggregation of income tax disclosures. While many nonprofit organizations are tax-exempt under IRC Section 501(c) and therefore do not recognize income tax expense, the amendments are relevant to nonprofits with unrelated business taxable income (UBTI), taxable subsidiaries, or state and foreign tax exposure.
The ASU is disclosure-only and does not change recognition or measurement under ASC 740.
Featured Articles
Feb 17, 2026
Nov 17, 2025
Nonprofit organizations rely heavily on their finance department staff. Their services are critical to day-to-day operations and essential to safeguarding and stewarding the allocation of financial assets to meet the mission of the organization. Investing in improving and increasing finance department staff skills, capacity, and professional development are actions that “speak louder than words,” and will improve operations and performance while demonstrating a culture of staff appreciation.
Recent Articles
