Nonprofit
FASB Votes to Propose a Deferral to the Effective Date for Revenue Recognition Standard by One Year
AAFCPAs would like to inform you of an update from today’s FASB Board Meeting (April 1, 2015), in which they voted to propose a one-year deferral of the effective date of Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“the new revenue standard”). Following a member comment period (30-days), we anticipate […]
New York State Nonprofit Revitalization Act – Guidelines to Compliance
Reminder: Review Fiscal Policies and Audit Procedures AAFCPAs strongly recommends that nonprofits registered to conduct charitable solicitations in New York State review and revisit their by-laws and policies to ensure compliance with the New York State Nonprofit Revitalization Act of 2013 (The “Act”). The Act, effective July 1, 2014, included sweeping reform legislation which reduces […]
Revised Massachusetts Charter School Audit Guide
AAFCPAs Highlights Changes and Practical Considerations to Ensure Charter Schools Are Well-Prepared for Your Financial Audit by John Buckley, CPA In June of 2014, the Massachusetts Department of Elementary & Secondary Education (DESE) issued its revised Charter School Audit Guide, including significant changes to the financial reporting and audit requirements of charter schools. This guide […]
Security Alert: NCCS Data Breach of Form 990 Online and e-Postcard Filing Systems
Urban Institute’s National Center for Charitable Statistics (NCCS) Alerts Users of Data Breach Users of the Form 990 Online and e-Postcard Filing Systems received an email today from the Urban Institute’s National Center for Charitable Statistics (NCCS) informing its constituents of a data breach. AAFCPAs has confirmed that this email is legitimate; NCCS’ 990 websites […]
Must-Know Federal and State Fundraising Rules and Regulations for Non Profits
Are you registered in each state where you fundraise? The majority of states and the District of Columbia require charitable nonprofits and/or professional fundraising consultants (sometimes referred to as “solicitors”) to register with the state before engaging in fundraising activities in that state. Charities that solicit contributions in more than one state, on the internet, […]
Are Raises the Same as Bonuses?
OSD Regulations on Salaries, Raises and Bonuses for Nonprofits Who File the UFR The Massachusetts Operational Services Division (OSD), as the responsible oversight entity for health and human services organizations who hold contracts with the Commonwealth, maintains compliance requirements specific to employee compensation. These requirements include specific parameters related to incentivizing employees with salaries, raises […]
Judge Orders State to Update Human Service Provider Rates
The new Baker administration has been ordered by a Superior Court judge to fully implement Chapter 257 by the beginning of the state’s 2016 fiscal year. The State has 60 days to appeal. Chapter 257 is a 2008 law aimed at updating rates paid to human service providers, and places authority to update these rates […]
Donation Systems for Nonprofits
In collaboration with The Alliance for Non-Profit Growth and Opportunity (TANGO), AAF cordially invites you to attend a complimentary program. Participants will discuss effective implementation and maintenance of donation systems for nonprofit organizations from the viewpoints of both the technical and compliance worlds. Details Wednesday, December 3, 2014 8am – 10am Wellesley Free Library 530 […]
A window to your world: Your annual report is a mighty communications tool
The end of the year is the time when organizations put together their annual reports. If you’re thinking “so much work and so little payoff,” consider this: The annual report is your organization’s No. 1 communications tool. What other vehicle has the potential to favorably impress new and prospective donors, volunteers, community partners, sponsors, board […]