Early Education and Care
How Nonprofits Spot Loss‑Leading Programs Early and Keep Their Mission Moving Forward
Key Takeaways: Identifying Loss-Leading Programs Early Nonprofit leaders balance mission and financial responsibility every day. For organizations with multiple programs, that balance grows even more complex as funding sources multiply, staffing challenges persist, and reporting expectations increase. Over time, financial pressure may emerge in subtle ways. An organization may continue to meet its obligations and […]
How Nonprofits Can Prepare for Any Financial Scenario
Key takeaways: Organizations rarely have the luxury of planning in calm conditions alone. Funding models change, costs rise, programs evolve, and expectations continue to grow. The organizations best positioned to respond are not those that predict every outcome, but those that have already done the work to understand their cost structure, program sustainability, and financial […]
Shift in EEC Funding Model Requires Business Process Assessment
Effective October 1, 2024, the Massachusetts Department of Early Education and Care (EEC) shifted its contract reimbursement from a primarily unit-rate model to a mix of unit-rate and cost-reimbursable contracts. Under the new contracts, childcare seats will be reimbursed on a unit-rate basis while administrative and supportive services will be funded through cost reimbursement contracts. […]
Human & Social Services Pod End of Summer Get Together
Team members in AAFCPAs’ Human & Social Services Pod enjoyed an end of summer 2022 get together, hosted by partners Jeffrey Cicolini, Tom Muldoon, and Katie Belanger.
Guidance on New Lease Accounting Standard
In 2016, FASB issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) to increase transparency and comparability of lease transactions. AAFCPAs has summarized some of the most significant changes resulting from the new ASU for your convenience: AAFCPAs has provided a detailed Whitepaper providing guidance on the FASB’s new Lease standard so clients may proactively […]
OSD Clarifies UFR Reporting of COVID-Related Funds
AAFCPAs recently received clarification for UFR filers related to reporting of certain COVID-related funding. (As a reminder, due to COVID-19, the Operational Service Division (OSD) granted a 30-day extension to the Uniform Financial Report (UFR) FY2021 filing deadline, now due December 15th. UFR filers are not required to file a request for this extension.) AAFCPAs […]
Chapter 257 Salary Report Due by January 15, 2021
Updated 10.21.20: The Executive Office of Health and Human Services (EOHHS) has extended the deadline for the Chapter 257 Salary Report for FY 2019 – FY 2021. Please note that the Salary Report submission date is now January 15, 2021 to coincide with the submission of the FY2020 UFRs. This report is required by Chapter […]
Cancelled Fundraising Events, Written Notice Requirements
On March 10, 2020 MA Governor Charlie Baker declared a state of emergency for the Commonwealth of Massachusetts in response to the spread of the Coronavirus. The Governor’s administration offered guidance to the public to limit or eliminate attendance at large gatherings. As a result, several of AAFCPAs’ nonprofit clients have made the difficult decision […]
Viewpoint: Nonprofits should stay vocal about transportation 'tax'
Boston Business Journal | “Organizations are tax-exempt for a reason: to optimize their abilities to benefit society,” says Carla McCall, CPA, CGMA, AAFCPAs’ Co-Managing Partner. In this op-ed, Carla urges nonprofits to participate in the survey to show Congress how detrimental the original provision in the TCJA was to their mission.