Nonprofit Resources
Board Monitoring of Church Finances: What to Do — and When
Here is a summary of financial actions your church board finance or audit committee should complete during their meetings throughout the year.
Qualified Charitable Distribution Trap for IRA Checkbook Holders
There's a potential pitfall for IRA owners whose account is with a custodian that provides the owner with a checkbook they can use to write checks on their IRA account. Here's what your organization should know about this issue.
Challenges in Auditing GIK
Assessing an nonprofit’s policies and procedures related to valuing material gift-in-kind (GIK) transactions is an important part of an NFP audit. Because there is no single source of pricing that is appropriate for valuing GIK donations, it falls on the NFP to arrive at an appropriate estimate of fair value. Here are some key considerations.
Reconciling Liquidity to Net Assets without Donor Restrictions, an Addendum
Further insight on ASU 2016-14 for churches, with a focus on reconciling liquidity to net assets without donor restrictions.
Are Voluntary Donations to Ministers Gifts or Taxable Income?
Churches should be aware of a recent Tax Court ruling on voluntary donations to ministers.
Qualitative Liquidity & Availability Disclosure Considerations for Churches in ASU 2016-14
Even churches that don’t issue external financial statements should have a written cash management policy that could have content and attributes similar to these new qualitative disclosure requirements.
Liquidity & Availability Disclosure Considerations for Churches in ASU 2016-14
We’ve received a number of questions from church clients about the additional disclosures related to liquidity and availability. Here a look at the requirements and what your church should consider as you plan for this significant implementation.
4 Steps to a Solid User Administration Process
Although it may seem like a small detail in the grand scheme of cybersecurity, a good user administration process plays an important role. Taking some basic steps will help your organization create a solid process and reduce your organization’s risk of a breach.
Christian Colleges Rank High for Student Engagement
Among the colleges and universities in the Wall Street Journal/Times Higher Education College Rankings with the highest student engagement, nine of the top 12 are faith-based.
Gifts-in-Kind: Reporting Contributions of Nonfinancial Assets
Since the standards for recognizing contributions at their fair value were issued in 1993, NFPs have been challenged to measure the value of the myriad contributions they receive. This controversial area is once again being addressed by watchdog agencies and state attorneys general and, thus, is one that NFPs should navigate with care.