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AAFCPAs 2019 Nonprofit Seminar Keynote: Jo Ann Simons, CEO, Northeast Arc

AAFCPAs 2019 Nonprofit Seminar Keynote: Jo Ann Simons, CEO, Northeast Arc

Listen to Podcasts: Jo Ann is the Executive Director of AAFCPAs’ client Northeast Arc, a large multi-service nonprofit with an operating budget of $280 million serving over 10,000 people annually in Massachusetts. The goal of the Northeast Arc is to ensure that children and adults with disabilities are able to live, work, engage in civic life and play in the community. Jo Ann shares her inspiring experiences successfully harnessing the... continue reading

Personal Financial Health Check

Listen to Podcasts:   As the flight attendants often say, “It’s critical that you put your oxygen mask on first, before helping others…” This is an important metaphor for all who lead the charge to realize impact on your missions—while maybe sacrificing the time it takes to achieve personal financial health! This fast-paced session led by AAFCPAs Wealth Management’s Wealth Advisor and Partner Carmen Grinkis provides tools so you may begin to... continue reading

Podcast: AAFCPAs’ 2019 Nonprofit Tax Update

Listen to Podcasts:   The IRS issued new guidance related to the Tax Cuts & Jobs Act (TCJA) and the widespread changes affecting charitable nonprofits. In this podcast, AAFCPAs’ in-house Tax Consulting Strategist Josh England provides guidance on the TCJA’s impact on nonprofit operations and filing requirements, including: UBIT changes, “siloing” requirements, taxability of qualified transportation fringe benefits, how changes influence the way donors approach their giving, and more. These audio... continue reading

AAFCPAs #DunkTankChallenge Raises $1500 for Immunotherapy Research

AAFCPAs Team members cooled off on a hot summer day participating in the firm’s second annual #DunkTankChallenge. Volunteers, including Partners & Managers, took turns in the hot seats while team members donated money for the chance to strike the targets. The dunk tanks provided entertainment for all at the firm’s annual Summer Outing, while allowing us to provide a very meaningful gift to charity. Proceeds Donated to Help Advance Immunotherapy... continue reading

Eye on Cyber: A Day in the Life of an Ethical Hacker

Listen to Podcasts:   “Innovation, organization, and sophistication—these are the tools of cyber attackers as they work harder and more efficiently to uncover new vulnerabilities,” reports Symantec in their 2018 Internet Security Threat Report. Ethical hacking services are a great way for organizations to unearth security weaknesses before they can be exploited by online criminals. In this instructive session, AAFCPAs’ IT Security professionals James Jumes and Vassilis Kontoglis go behind the disguise with our... continue reading

Bill to Retroactively Repeal Nonprofit Transportation Fringe Benefit Tax Passed by House Ways and Means Committee

On Thursday, June 20, 2019, the House Ways and Means Committee passed H.R. 3300, officially called the “Economic Mobility Act of 2019” (the “Bill”).  The Bill, among other things, repeals the unrelated business income tax (UBIT) on nonprofits providing employees with qualified transportation fringe benefits. AAFCPAs is also pleased to report that the Bill states this repeal will be retroactive, as if the original provision was never included in the... continue reading

Common Social Engineering Cyber Attacks and Prevention Strategies

What is Social Engineering & what are the risks? The human component of cyber security is the weakest link in protecting your organization against external threats. Recently, social engineering attacks have become the most prevalent type of threat within reported cyber breaches. Social engineering is a malicious activity in which bad actors produce items such as false emails with the intent to persuade the recipient to unwittingly perform an action;... continue reading

Donor Advised Funds: Compelling Talking Points for Fundraisers

Listen to Podcasts:   The giving vehicle used more and more often by major gift donors is the donor-advised fund (DAF). AAFCPAs Wealth Management advises our nonprofit clients to become familiar and able to articulate the various types and uses of DAFs. AAFCPAs’ Wealth Advisor Jonathan Bloom outlines the key points pertinent to DAFs becoming more mainstream since the Tax Cuts & Jobs Act as a preferred method by which donors will manage their... continue reading

Update Debt Disclosures in Compliance with GASB-88

AAFCPAs would like to remind clients and friends that, in April 2018 the Government Accounting Standards Board (GASB) issued Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements. This standard is applicable for entities following governmental accounting standards, including AAFCPAs’ Charter School clients in Massachusetts and New Jersey, as well as other quasi-governmental organizations. The standard is applicable for reporting periods beginning after June 15,... continue reading

5 Tips for an Accurate Financial Statement in a Divorce

5 Tips for an Accurate Financial Statement in a Divorce

The decision to divorce is never an easy one, and perhaps one of the most painful life events there is. Separation of finances can be one of the more contentious aspects. AAFCPAs provides the following guidance regarding the development of your divorce financial statement, which is a crucial component of divorce processes where financial relief is requested. In Massachusetts divorce actions, Supplemental Probate and Family Court Rule 401 requires that... continue reading