Nonprofit
Best Practices in Managing Your Nonprofit Operating Budget
Accurate budgeting is critically important to the success of any business, and especially important for nonprofit organizations that may have stretched resources, fluctuating funding, and/or heavy reliance on specific funders. The operating budget is a key tool in effectively and efficiently achieving the organization’s stated purpose, and should align with your organization’s strategic plan. A […]
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, […]
Best Practices for Complying with HIPAA & Safeguarding Patient PHI Accessible to Your Business Associates
Healthcare is predicted to be the most targeted industry for cyberattacks in 2017, according to the 2017 Data Breach Industry Forecast from Experian. “Electronic health records remain likely to be a top target for hackers,” Experian found. To further heighten & complicate these risks, providers’ responsibilities for protecting personal health information (PHI) under the […]
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 […]
OMB Further Extends the Effective Date for the Procurement Standards of the Uniform Guidance
AAFCPAs would like to make clients aware that on May 17, 2017, the U.S. Office of Management and Budget (OMB) issued a correcting amendment extending the effective/applicability date of the procurement standards under the Uniform Guidance (UG). The procurement standards were one of the areas of significant change under the UG, and nonprofits receiving federal […]
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
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 […]
AAFCPAs Clarifies FASB Nonprofit ASU for Boston Bar Association Members
AAFCPAs’ Amanda Pelcher, CPA will provide insight to Boston attorneys on Understanding the New Nonprofit Financial Statement Presentation Standards. In August 2016, the FASB implemented an accounting standards update (ASU 2016-14) to refresh the previous reporting model. Amanda will discuss both the current standards for nonprofit financial statement presentation and the main provisions of this […]
Nonprofit Valuations: Transactions Requiring an Accurate Valuation of Your Nonprofit
Did you know that nonprofit organizations, like their for-profit counterparts, can benefit from an independent business appraisal? AAFCPAs advises nonprofit organizations to obtain a business valuation from a qualified, accredited appraiser under the following circumstances: Converting from nonprofit status to for-profit status – There are necessary procedures when companies no longer desire nonprofit status and […]