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AAFCPAs releases 8-part educational podcast series, designed to help nonprofits thrive
AAFCPAs Educational Podcast Series

AAFCPAs releases 8-part educational podcast series, designed to help nonprofits thrive

AAFCPAs is excited to announce the release of our 8-part educational podcast series offering actionable takeaways for organizations to improve efficiency, effectiveness and performance controls. This collection of podcasts is the 2nd series of recordings from AAFCPAs’ Annual Nonprofit Educational Seminar. These podcasts, and accompanying introductory videos, feature full audio of thought-provoking sessions recorded on May 3rd, […]

The Bucket System: Managing Your Assets in the Face of Volatility
Nonprofit World Magazine

The Bucket System: Managing Your Assets in the Face of Volatility

Nonprofit World Magazine – Joel Aronson, wealth advisor, AAFCPAs Wealth Management provides members of the national Society for Nonprofits (subscriber content) with insight into a simple system that is key to financial stability. As a nonprofit leader, you’re no stranger to cash flow crunches. But you can attain a new level of stability if you persevere […]

How Your Form 990 May Trigger an Audit

How Your Form 990 May Trigger an Audit

AAFCPAs would like to make our clients aware that the IRS is now taking a data-driven approach to reviewing the Form 990, Return of Organization Exempt From Income Tax, to scrutinize governance, accountability and oversight of exempt organizations.   The IRS’s Exempt Organizations (EO) compliance specialists are now using data queries to better focus their examination […]

AAFCPAs Hosts 9th Annual Nonprofit Educational Seminar & Reception
AAFCPAs

AAFCPAs Hosts 9th Annual Nonprofit Educational Seminar & Reception

Westborough, Mass. (April 24, 2017) – AAFCPAs, a best-in-class public accounting firm known for assurance, tax and advisory solutions, announced its 9th annual Nonprofit Educational Seminar & Reception. The invite-only event will be held May 3rd at the Newton Marriott, and will host the firm’s clients, friends and colleagues for a day of education and […]

Biggest Improvement of Financial Reporting Guidance in Two Decades for Not-for-Profit Entities

Biggest Improvement of Financial Reporting Guidance in Two Decades for Not-for-Profit Entities

On August 18, 2016, the FASB issued a final ASU 2016-14, Not-for-Profit Entities (Topic 958), Presentation of Financial Statements of Not-for-Profit Entities, to improve financial reporting guidance for not-for-profit entities (NFPs).  The existing financial reporting guidance was established in 1993 when the FASB issued the Statement of Financial Accounting Standards (AFAS) No. 117, Financial Statements […]

Guidance on How to Comply with Procurement Standards Under the Uniform Guidance

Guidance on How to Comply with Procurement Standards Under the Uniform Guidance

In December 2013, the Office of Management and Budget (OMB) issued the new Uniform Guidance (UG), which includes comprehensive reform rules affecting all nonprofits receiving federal grants and contracts. One of the areas of significant change under the UG is the procurement standards, a component of Subpart D, Post-Award Requirements, contained in Sections 200.317 through […]

MassHealth Issues One-Time Payments to Behavioral Health Care Providers

MassHealth Issues One-Time Payments to Behavioral Health Care Providers

Please be aware that MassHealth has authorized its MassHealth Reinvestment Payment 2016, a distribution of managed care savings to Massachusetts behavioral health care providers.  These payments are from managed care savings that the State has authorized to be disbursed to providers under contract with a Medicaid Managed Care Organization in CY 2014. MassHealth has requested […]

Massachusetts to Issue Changes to Surplus Revenue Retention Regulations

Massachusetts to Issue Changes to Surplus Revenue Retention Regulations

AAFCPAs is pleased to report that there will be changes to the Massachusetts regulations regarding Surplus Revenue Retention, which appear favorable to human & social service providers.  The 20 percent lifetime cap on Surplus Revenue Retention will be eliminated.  Additionally, the 5 percent annual cap on Surplus Revenue Retention will be changed to a 20 […]

Form SF-SAC Submission for Single Audits Deadline Extended

Form SF-SAC Submission for Single Audits Deadline Extended

The U.S. Office of Management and Budget (OMB) created, but has yet to issue its new data collection form (Form SF-SAC) applicable to single audits performed under Uniform Guidance (UG).  Nonprofits whose audits were performed under the Uniform Guidance are unable to submit the Form SF-SAC and their reporting package to the Federal Audit Clearinghouse […]