Nonprofit
Continuous Close Approach Allows Nonprofits to Streamline Month-End Processes
For many nonprofits, month-end close follows a familiar rhythm: reconcile books, gather receipts, post final entries, and generate reports. It is a routine shaped by habit and deadlines, often carried out under pressure. But in practice, this model can create as much friction as it resolves, especially when organizations rely on outdated systems or must […]
MA Nonprofit Annual Report Due by Nov 1
AAFCPAs reminds clients that every nonprofit corporation organized under the laws of the Commonwealth of Massachusetts must file a nonprofit annual report with the Corporations Division on or before November 1st of each year. Failure to file can lead to a loss of good standing as a corporation in Massachusetts. Learn more here: https://www.sec.state.ma.us/cor/corpweb/cornp/npfrm.htm
Belanger, Whittemore to Present Audit-Proofing Strategies for Nonprofits at MNN Conference
Katie Belanger, Partner at AAFCPAs and leader in the firm’s Human & Social Services practice along with Lisa Whittemore, Partner, Risk Advisory presented at the 2025 MNN Annual Conference on October 22 at the DCU Center in Worcester, Massachusetts. This workshop, A CPA, CFO and CFE Walk Into A Bar… Audit-Proofing Your Organization, equipped nonprofit […]
Regulatory Update: Massachusetts Extends FY25 UFR Deadline to January 15, 2026
AAFCPAs would like to make clients aware, in response to the delayed release of the Federal Compliance Supplement, the Massachusetts Operational Services Division (OSD) has announced a statewide extension for FY25 Uniform Financial Report (UFR) submissions. This update provides clarity and relief for providers navigating compliance timelines. Note: The 60-day extension applies only to contractors required […]
Maximizing Meal Expense Deductions: IRS Rules and Exceptions Every Organization Should Know
Meal Expenses: An Overlooked Tax Opportunity Meal expenses are often an overlooked area in tax planning, with significant potential to affect an organization’s bottom line. While the IRS generally allows only a 50 percent deduction under IRC §274, certain circumstances may permit full deductibility. Understanding these exceptions enables businesses, including tax-exempt organizations that may incur […]
How Close Automation Tools Support Smarter Nonprofit Operations
The nonprofit month-end close has become an exercise in endurance—manual checklists, spreadsheet reconciliations, and long hours spent assembling reports under deadlines. For lean finance teams, the process is not only inefficient but difficult to sustain. Close automation platforms help reduce that burden by bringing structure, consistency, and transparency to the process. These tools organize workpapers, […]
How to Build a Reliable System of Record with Practical Data Strategy Insights
Financial systems are rarely as connected as they appear. As organizations grow and adopt specialized tools, each serving a distinct purpose, questions begin to emerge. Where does the most accurate version of a transaction live? Which system should drive reporting? Where does accountability reside? Without a clearly defined system of record, even routine tasks may […]
AAFCPAs to Speak on Enhancing Audit Value at MassCPAs Nonprofit Infoshare
Boston, MA (July 30, 2025)—AAFCPAs’ Partner David Kelleher, CPA, CGMA spoke at the Nonprofit Infoshare, hosted by MassCPAs. The program included a cybersecurity session, an industry update panel on enhancing audit value, and a discussion on navigating operational and financial uncertainty. Kelleher served as a panelist during the Industry Update Panel, Beyond the Numbers: Enhancing […]
Is Your Tech Stack Built for Real-Time Decision Making?
Finance leaders face increasing pressure to produce faster, accurate reports and maintain strong internal controls—all while managing lean teams and limited resources. Technology should help ease this burden. However, when systems are disconnected, it often creates more work. Teams spend more time managing data across platforms than leveraging it for decision-making. Reconciliations get delayed. Reports […]