Nonprofit Accounting Basics

Recent Articles

Give Me Your 990!

Originally Posted: May 9, 2022

Public Disclosure Requirements for Tax-Exempt Organizations | 2022 Edition

Reporting the Total Number of Volunteers on the Form 990

Originally Posted: April 25, 2022

Nonprofits have only a few touchpoints where a lasting impression can be made in the blink of an eye.

Top Ten Items to Review at Year-End

Originally Posted: April 13, 2022

Your year-end review and audit preparation should include these items among others depending on your organizations form, accounts and transactions.

Public Support Tests: Does Your Public Charity Pass the Section 509(a)(1) Test?

Originally Posted: March 28, 2022

To be a public charity, an organization must meet one of the Internal Revenue Code (Code) Section 509(a) tests.

Decision-Making Policy & Procedures for Small and Midsize Nonprofit Organizations

Originally Posted: March 14, 2022

Nonprofit organizations are routinely faced with making decisions of varying magnitude and impact.

5 Steps to Make an Audit Easier

Originally Posted: February 28, 2022

Undergoing an audit, or any type of engagement, is a cumbersome process.

Revenue Classification Tool: Factors to Consider

Originally Posted: February 13, 2022

Revenue classification in compliance with generally accepted accounting principles (GAAP) has changed with the implementation of accounting standards updates (ASU’s).

Lessons Learned from Adoption of Topic 606, Revenue Recognition

Originally Posted: January 28, 2022

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09

Drafting a Gift Acceptance Policy

Originally Posted: January 14, 2022

A gift acceptance policy explains an organization’s position on accepting both cash and non-cash gifts and outlines any prohibitions on the type of donor or donations to be accepted by the organiza

Policy Development Outline for Small and Midsize Nonprofit Organizations

Originally Posted: January 14, 2022

The following steps are designed to prompt responses that can become the components of a gift acceptance policy that can serve as a guideline for staff and board.  

more