Nonprofit Resources
Nonprofit Issues Newsletter, April 2022
Insight on implementing the new accounting standard for leases, cryptocurrency reporting requirements, how weak IT controls can affect your financial statement audit, and more.
Implementing the New Accounting Standard for Leases: Part Two
The new accounting standard for leases, ASC 842, brings significant changes, including new definitions, classifications, and disclosures. Our new article series provides important action items in a quick, easy-to-read format to make the adoption of the new standard more manageable.
Part Two walks you through the steps of determining the lease term, discount rate, and classification. Read more.
Gifts-in-Kind of Cryptocurrency: Applying FASB ASU 2020-07
Did you know that ASU 2020-07, Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets, applies to contributions of cryptocurrency?
This article outlines the reporting requirements.
Higher Education Emergency Relief Fund Updates
The performance period for all open Higher Education Emergency Relief Fund (HEERF) grants with a balance of more than $1,000 has been extended through June 30, 2023.
In addition, the HEERF reporting portal is now open through May 6, 2022. Learn more.
Newsbits
Employee Retention Credit Assistance
Many questions about the Employee Retention Credit (ERC) remain, including how to navigate through the rules and regulations to determine eligibility and what counts as qualified wages.
Access our new video and answers to frequently asked questions here.
New E-Book Now Available
It’s vital for your organization to understand the implications your IT environment can have on your financial statement audit.
Our new CapinTech e-book, How Weak IT Controls Can Affect Your Financial Statement Audit, provides a guide to building and enhancing your organization’s control framework. Download your free copy today!
Don’t Miss Our Cyber Series Webcast on Vulnerability Management
Vulnerability management is critical to the security of nonprofits. Join our free CapinTech Cyber Series webcast on May 18 for practical steps you can take to identify, mitigate, and respond to vulnerabilities within your organization. Learn more and register.
Can’t make it? Sign up to receive the recording.
CapinCrouse Named an Accounting Today Top Regional Leader for 2022
We are honored to have once again been designated as an Accounting Today Top Regional Leader. It is our second year in a row being named to this annual ranking of leading firms, based on revenue.
CapinCrouse has served mission-focused nonprofit organizations, churches, and higher education institutions nationwide for 50 years by providing support in the key areas of financial integrity and security.
We are grateful for our clients and dedicated team members who make the firm’s success possible. Thank you!