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AAFCPAs Cultivates Lush Giving Tree Again for #GivingTuesday

AAFCPAs Cultivates Lush Giving Tree Again for #GivingTuesday

We are happy to announce that AAFCPAs will again participate in #GivingTuesday, November 27th, 2018, a global day dedicated to giving! Celebrated on the Tuesday following Thanksgiving, #GivingTuesday provides a shift in focus from the widely promoted shopping events of Black Friday and Cyber Monday to the charitable giving season that comes with the holidays, AND the year-end deadline for charitable tax deductions. AAFCPAs is committed to maintaining our culture... continue reading

AAFCPAs & MENTOR’s Partnership in Charting a Sustainable Future

AAFCPAs & MENTOR’s Partnership in Charting a Sustainable Future

How Did One Nonprofit Explore Creative Approaches to a Sustainable Model? For nonprofits, charting the future is complex. The search for creative, strategic approaches to sustainability is continuous, and many organizations have struggled to achieve long term, mission-aligned profitability. In its work with MENTOR: The National Mentoring Partnership, AAFCPAs evaluated the organization’s financial and operational position and helped illuminate avenues for growth. Their work together led to an improved outlook,... continue reading

AAFCPAs Outlines State Applicability, IRS Guidance Related to TCJA that Nonprofits Need to Know

AAFCPAs would like to make Tax Exempt Organizations aware of state by state applicability and recent IRS guidance on the Tax Cuts and Jobs Act, known officially as H.R. 1, (the “TCJA”) and how it pertains to charitable nonprofits. AAFCPAs has outlined the following applicability and guidance that are especially noteworthy: State by state applicability of TCJA changes to nonprofits As outlined in an earlier post, the TCJA enacted widespread... continue reading

AAFCPAs’ Brittany Besler, CPA, JD, MBA to Present Legal Seminar on Nonprofit Compliance Requirements

AAFCPAs Tax Consulting Attorney Brittany Besler, CPA, JD, MBA will volunteer her expertise and lead Lawyers Clearinghouse’s Legal Workshop for Nonprofits: How to Maintain Nonprofit, Tax-Exempt, and Public Charity Status on October 2nd in Boston, MA. This two-hour educational workshop offers an overview of compliance requirements with various government agencies and practical tips for nascent nonprofits, including the IRS rules on fundraising and political activities. Brittany will be joined by... continue reading

Educational Podcast: CFO Survey Report: Behind Every Thriving Organization is a High-Functioning CFO

Educational Podcast: CFO Survey Report: Behind Every Thriving Organization is a High-Functioning CFO

AAFCPAs, in collaboration with The Boston Chapter of Financial Executives International (FEI-Boston), conducted a survey of over 250 Chief Financial Officers in an effort to capture what issues are currently ‘top of mind’ for senior financial executives in the Northeast region of the United States. We asked CFOs to provide their thoughts, opinions, and experiences in an effort to glean insight into how the role may be evolving, and why.... continue reading

Educational Podcast: Keynote Marylou Sudders

Educational Podcast: Keynote Marylou Sudders

Marylou Sudders leads the largest executive agency in state government, overseeing a $22 billion state budget, twelve agencies and 22,000 public servants. EOHHS services directly touch the lives of slightly more than 1 in 4 residents of the Commonwealth. Sudders’ responsibilities include the state’s MassHealth (Medicaid) program that provides health coverage to 1.9 million low income or disabled residents, chairing the board of the state’s health care marketplace (The Connector),... continue reading

Educational Podcast: How to Right-Size Your Finance Function

Educational Podcast: How to Right-Size Your Finance Function

Over one third of CFOs surveyed report human resource limitations and team bandwidth as the PRIMARY challenge in meeting the expectations of their CEO. Nonprofit finance departments are often juggling the day-to-day accounting and bookkeeping responsibilities alongside more complex and time consuming tasks, such as: HR-related activities; optimizing revenue; mergers & collaborations; data & cyber security; managing the IT investment decision-making process; business process improvements; implementing new accounting standards; and... continue reading

Educational Podcast: Cybersecurity in 2018

Educational Podcast: Cybersecurity in 2018

Techniques of cyber-criminals continue to evolve. A recent study shared by InfoSecurity Magazine reports “Cyber-criminals have adopted an organizational shift in how they carry out their work, implementing corporate best practices and establishing professional businesses to increase the efficiency of their attacks against enterprises and consumers.” This means advanced persistent threats specifically targeted at your organization and employees. AAFCPAs presented this important, and informative session again this year, recognizing that IT security... continue reading

Educational Podcast: Unraveling the Mysteries of Employee Benefit Plan Costs

Clients often ask “How much does my employee benefit plan cost, and how do costs relate to compliance and risks?” Plan costs are often buried and difficult for plan sponsors to truly figure out. In order to meet their fiduciary responsibilities, plan sponsors must ensure they “pay only reasonable plan expenses…” among other things. Plan sponsors take on substantial personal risks. As a decision-maker, you are a fiduciary, personally liable... continue reading

Statement of Cash Flow Considerations for Nonprofits Implementing the New Financial Statement Presentation Framework

AAFCPAs advises nonprofits in assessing the impact of the new Accounting Standards Update (ASU) No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, and we provide guidance throughout the transition process. The new financial statement framework affects nonprofit organizations in all industries (i.e. healthcare, affordable housing, social services, foundations, and education) and is effective for fiscal years beginning after December 15, 2017 (CY 2018 or FY 2019).... continue reading